C-Suite Leaders on AI: Embrace Tech Now or Risk Being Excluded
The realization that AI is a permanent fixture and not going away is seeping through the rank and file.
In the past week, coincidentally, a number of C-suite executives from around the world found themselves singing the praises of artificial intelligence (AI), encouraging professionals to dive into learning/adopting this emerging technology. Which is a change from the view some months ago when the same lot was gathering around coffee machines and whispering, “AI will kill all our jobs”. On the flip side, there are those who remain skeptical. This paradox is in sync with Amara's Law: We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run. (Roy Charles Amara, an American scientist and futurist, originally coined this idea.)
If you were to ask me, AI reminds me of the advent of PCs or the World Wide Web; of the move from analog to digital. Eventually, this new tech WILL encompass all aspects of our lives, so it’s futile to resist it. Might as well get off the block as quickly as possible and beat others in the race.
That said, let’s look at the AI Job Indicator.
In Today’s Newsletter:
Chairman of Tata Sons Promotes the Potential of AI to Generate Jobs
AI Adoption Soars in Latin America: 46% of Businesses Already Using the Technology
Microsoft President Says AI Will Help People Think Smarter and Faster
Study Reveals Unreliable Nature of AI in Selection and Recruitment Process
Australian Survey: Women Skeptical of AI, but Support Its Role in Recruitment
Amid Ethical Concerns, Legal Community Adopts AI Tools as US Bar Association Takes Measures
AI Disrupts Management Consulting: Tech Tools Better Than Humans?
Revolutionizing Learning and Teaching Approaches: The Role of Artificial Intelligence in Education
Reinforced Learning Brings Greater Intelligence to Language Models
UK MPs Urge Govt to Enact AI Legislation Quickly
US Copyright Office Initiates Inquiry on Artificial Intelligence
Pirated Works of These Authors Are Fueling Generative AI
Big Tech CEOs Will Attend Meet
Indian PM Modi Calls For Ethical Use of AI
Open Source AI is An Illusion
Spain Takes the Lead in EU: Establishes AI Regulatory Task Force
plus Events, TopPick, and much more.
Tata Sons Chairman Advocates AI's Potential to Generate Jobs and Empower Individuals in India
Promoting the utilization of AI and its advantageous prospects for India, N. Chandrasekaran, Chairman of Tata Sons and Air India, has said that within a nation like India, AI was poised to generate additional employment. He added that AI will equip individuals with skills by providing access to information. Furthermore, it's expected to alleviate the burdens on professionals, he noted.
Chandrasekaran also emphasized that Gen-AI brought in a distinct level of impact-making opportunities. The top honcho of the Tatas made his observations while participating in a Business 20 session in India under the theme, 'AI for Business and Societies: Opportunities and Regulations'.
Source: livemint.com
Latin America Sees Surge in Adoption of AI With 46% of Businesses Already Utilizing The Tech
Lately, Latin America has experienced a notable surge in the integration of AI across diverse industries. Companies are tapping into the possibilities of AI to enhance efficiency and foster growth, spanning areas such as process automation and sales and marketing optimization.
A recent report from venture capital fund ALLVP said 46% of corporate entities in Latin America had already incorporated AI into their daily operations. Many more companies were also planning to introduce AI in the foreseeable future. These numbers underscored the notion that AI was becoming indispensable to stay competitive in today's dynamic business environment.
Source: contxto.com
Microsoft President Says AI Will Help People Think Smarter and Faster
Microsoft President and Vice-chairman Brad Smith has said that AI was a tool that helped in quicker and more intelligent thinking.
AI, a technology that has caused revolutionary shifts across various sectors like work and education, had the potential to amplify productivity and facilitate learning, said Brad. Yet, despite its transformative capabilities, this potent tool also carried substantial risks.
Echoing the concerns voiced by other technology leaders, Brad stressed the necessity for human supervision and regulatory measures to govern AI. He cautioned against the potential for AI to be harnessed as a weapon, exploited for nefarious intentions.
Speaking exclusively to CNBC during the Business 20 Summit in New Delhi, India, Smith noted that throughout history, every technological advancement had exhibited a dual nature — as a tool and as a weapon, adding that the world had to ensure that AI remained under human control.
Source: indianexpress.com
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Role of AI in Selection and Recruitment Process Unreliable, Finds Study
Amidst the swift integration of AI technology within HR departments, a study has found that job seekers generally regarded the integration of AI in recruitment procedures as unreliable, resulting in algorithmic decision-making being deemed less equitable than methods involving human intervention. The report resulted from a collaborative research effort involving NUS Business School, the International Institute for Management Development (IMD), and The Hong Kong Polytechnic University. The focus was: What is the perception of jobseekers regarding AI's function in the process of selection and recruitment? The findings of this study have been documented in the Journal of Business Ethics.
The study engaged more than 1,000 participants, mainly in their mid-30s, encompassing diverse nationalities. The primary aim was to investigate individuals' perceptions of computer algorithm implementation within recruitment contexts.
In the initial two experiments, the focus was on understanding how algorithmic utilization influenced candidates' perception of fairness during the hiring process. The subsequent pair of experiments aimed to unravel the underlying causes for the lower fairness ratings.
The study's findings further revealed that the involvement of humans in resume screening and hiring decisions led to a higher perception of fairness compared to an exclusively algorithm-driven approach. Notably, this view persisted even among candidates who had achieved positive outcomes through algorithm-driven recruitment processes.
The discernible gap in fairness perception primarily stemmed from AI's limitations in recognizing the distinctive qualities of candidates. Unlike human recruiters, who tend to discern nuanced, qualitative differentiators among candidates, AI systems might overlook critical attributes, potentially causing the exclusion of competent candidates.
These findings thus challenge the prevalent notion that algorithms offer more impartial evaluations and eradicate human biases.
Source: phys.org
Australian Survey: Women Skeptical of AI, but Support Its Role in Recruitment
Contrary to the above-mentioned study, a recent survey by independent research firm “Roy Morgan” found the prevailing sentiment among Australians leaned toward the belief that AI exacerbated issues rather than resolve them. A significant proportion of women respondents expressed this view.
However, an interesting contradiction emerged when considering AI's role in recruitment.
The survey involving nearly 1,500 Australians showed individuals in older age groups and those residing in rural areas exhibit a greater tendency to harbor skepticism toward AI.
What’s more, PwC's 2021 AI Predictions Survey corroborates this perception, revealing that Australia stands as one of the more apprehensive nations concerning the adoption of AI technology.
Source: smartcompany.com
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Legal Community Embraces AI Tools Amidst Ethical Concerns, Bar Association Takes Action
As AI prepares to revolutionize the legal landscape in the near future, the most prominent voluntary association of attorneys in the United States is busy putting together a team of legal experts to facilitate this transformative journey.
The American Bar Association(ABA) has announced its intention to have a fresh initiative aimed at evaluating the influence of AI on legal practice and delving into the ethical quandaries that the technology will introduce to the legal profession.
In the wake of the introduction of new generative AI products like ChatGPT, the legal community has been progressively exploring the implementation of AI tools. However, this trend is accompanied by a simultaneous struggle to navigate through possible obstacles and ethical complexities.
ABA President Mary Smith said that in a climate where both private and public entities were swiftly adopting artificial intelligence, the legal fraternity found itself once more at the forefront, tasked with addressing the potentials and risks inherent in these emerging technologies. Mary emphasized the need for leadership in managing the dual aspects of promise and challenges associated with AI advancements.
Source: reuters.com
AI Disrupts Management Consulting: Tech Tools Better Than Humans?
Management consulting is a bit like Marmite; you either love it or hate it. If you've got an MBA and you're starting your career, landing a job at McKinsey, Bain, or BCG can be like hitting the jackpot. But for many others, the big paychecks of consultants and their even bigger fees make it a profession that's easy to criticize.
Now, there's even more of a twist. Tech-savvy entrepreneurs are creating AI-powered tools that claim to outperform these highly paid consultants in certain important tasks. Think things like finding companies to merge with and doing the research needed before making big business moves. At the same time, the consulting firms themselves are in a rush to use this technology to make their work better.
Basically, management consultants now have AI nipping at their heels. Experts say that some people in this field might find it hard to keep up with the changes brought by automation. It's like a new set of rules in the business jungle; not everyone might survive the shift.
Source: sifted.eu
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Artificial Intelligence in Education: Transforming Learning and Teaching Approaches
Similar to the impact computers had on a previous generation, technological advancements are reshaping both the learning methods of students and the teaching approaches of educators today.
The ascent of AI tech offers a diverse range of possibilities for learning, as well as innovative avenues to navigate the process of education.
The enduring presence of AI is undeniable, and numerous institutions and school districts in the US are actively adopting and incorporating it into their educational strategies, according to this news report.
So, if you can’t beat ‘em, may as well join ‘em.
Source: cbsnews.com
Reinforced Learning Brings Greater Intelligence to Language
The Development: Google DeepMind researchers have introduced 'Reinforced Self-Training' (ReST) Technique for enhanced language models. ReST employs reinforcement learning (RL) to fine-tune language models based on human preferences iteratively.
The Details: So, instead of the traditional process involving model training, data collection, retraining, and new data collection, ReST streamlines the cycle by training the model, generating an additional dataset autonomously, and refining the model using this dataset.
In essence, ReST accelerates the pace of enhancing AI systems. However, there's a notable caveat – conducting multiple iterations of ReST might lead to a decline in system performance due to potential overfitting to the reward signal used in dataset generation. Regardless, the technique displays promise and merits exploration. The study's authors underline the approach's simplicity, stability, and minimal hyperparameter adjustment.
The ReST process comprises two key phases – the 'grow' step and the 'improve' step. During the 'grow' step, a policy generates a dataset, which is subsequently utilized for fine-tuning the policy in the 'improve' step. This cycle is repeated iteratively.
DeepMind tested ReST's effectiveness in improving the machine translation capabilities of a language model. Results showed that ReST performs well when undergoing one 'grow' and 'improve' step. However, extending the 'grow' steps yields improved model scores that don't align with perceived human evaluation scores.
What Makes This Noteworthy? The importance of this matter stems from the possible balance between human and digital endeavors. Approaches such as ReST offer the potential to expedite the entire AI development procedure. With refinements to overcome overfitting challenges, leveraging computer time to iteratively enhance AI models could replace conventional human intervention.
Source: Reinforced Self-Training (ReST) for Language Modeling (arXiv).
UK Urged to Enact AI Legislation or Risk Lagging Behind EU and US in Regulation
Members of Parliament (MPs) have warned that the UK Govt must enact fresh legislation to govern AI to avoid lagging behind the European Union (EU) and the United States in terms of establishing regulatory frameworks for this technology.
The science, innovation, and technology committee emphasized that the current regulatory strategy outlined in a recent government white paper might risk losing ground to others. In an interim report on AI governance released earlier this week, the committee said while the AI white paper should be acknowledged as an initial endeavor to address this intricate task, its proposed approach could potentially fall behind the rapid progress of AI development.
The call for proactive action comes as the government under Prime Minister Rishi Sunak prepares to host a global AI safety summit in November this year at Bletchley Park, the historically significant site of the Enigma codebreakers in World War II.
Incidentally, the report from the committee featured an opening paragraph composed by the ChatGPT chatbot. It outlined a roster of 12 governance hurdles pertaining to AI. The report said these challenges demanded the attention of policymakers and should serve as guiding principles for the forthcoming Bletchley summit, set to be attended by representatives from global governments, prominent AI companies, and researchers.
Source: theguardian.com
US Copyright Office Initiates Inquiry on Artificial Intelligence
The United States Copyright Office has initiated a formal solicitation for comments and issued a notice of inquiry regarding the intersection of copyright and AI. The request, documented in the Federal Register, aims to gather "factual information and perspectives" concerning copyright-related matters stemming from recent advancements in generative AI models like OpenAI's ChatGPT and Google's Bard.
The U.S. Copyright Office, in a press release shared through the Library of Congress and seen by Cointelegraph, highlighted its focus on several pertinent aspects:
The utilization of copyrighted materials for training AI models.
Ensuring appropriate levels of transparency and disclosure in connection with copyrighted materials.
Determining the legal status of AI-generated outcomes.
Defining the suitable treatment for AI-generated outputs that replicate the personal characteristics of human creators.
Source: cointelegraph.com
Revealed: Pirated Works of These Authors Are Fueling Generative AI
One of the most concerning aspects of generative AI is its shroud of secrecy. The process of crafting human-like responses, as seen in systems like ChatGPT, involves the analysis of massive volumes of written content.
However, only a handful of individuals outside companies like Meta and OpenAI possess a comprehensive understanding of the extensive range of texts that these programs have undergone training on.
In a recent legal action initiated in California, authors Sarah Silverman, Richard Kadrey, and Christopher Golden have asserted that Meta engaged in copyright infringement by utilizing their books to train LLaMA. LLaMA, akin to OpenAI's GPT-4, is a substantial language model designed to generate text by emulating word patterns extracted from sample texts.
The world has remained in the dark about whether LLaMA was indeed trained on Silverman's, Kadrey's, or Golden's works, or on any other literary pieces, for that matter. But somewhere we do know that Stephen King’s pirated works are in the learning mix.
Source: theatlantic.com, marketinginstitute.com
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Big Tech CEOs Will Attend Meet
Tech CEOs like Meta's Mark Zuckerberg and OpenAI's Sam Altman are set to attend Senate Majority Leader Chuck Schumer's AI forum next month. Despite public distrust in government AI regulation, Schumer is leading efforts to establish a "new AI policy foundation" for the US.
Source: livemint.com
Indian PM Modi Calls For Ethical Use of AI
At the B20 Summit India 2023 organized by the CII, Prime Minister Narendra Modi underscored the significance of the ethical utilization of artificial intelligence.
Source: livemint.com
Is 'Open Source' AI Just an Illusion?
While the open source approach has played a significant role in democratizing software access, promoting transparency, and enhancing security over the years, the potential impact of this approach on AI might not be as straightforward.
A research paper authored by a consortium including Carnegie Mellon University, the AI Now Institute, and the Signal Foundation delves into the realm of AI models like Llama 2, often labeled as "open" in some manner.
Contrary to assumptions, the researchers argue that AI models marketed as "open" might not be without their caveats.
Llama 2 can be freely downloaded, customized, and employed, yet it diverges from the conventional open source model. Under Meta's licensing terms, the utilization of Llama 2 to train other language models is restricted, and a distinct license is mandated for developers who wish to incorporate it into an application or service catering to more than 700 million daily users.
Source: wired.com
Spain Takes the Lead in EU: Establishes AI Regulatory Task Force
In a pioneering move, Spain has emerged as one of the first nations within the European Union to set up a dedicated task force responsible for the regulation of AI. On August 22, the Council of Ministers gave its nod to a Royal Decree, formalizing the creation of the Spanish Agency for the Supervision of Artificial Intelligence (AESIA). The agency, in alignment with the national digital strategy, aims to ensure that AI development in the country maintains an "inclusive, sustainable, and citizen-centered" approach.
The AESIA is a pivotal component of Spain's comprehensive strategy, the National Artificial Intelligence Strategy, which aims to propel the nation into a leadership position in the AI landscape. The agency is being established through a collaborative effort between the Spanish Ministry of Finance and Civil Service and the Ministry of Economic Affairs and Digital Transformation. Spain's stride in establishing this specialized agency underscores its ambition to be at the forefront of AI innovation in Europe, marking a significant milestone as the first European nation to introduce such an agency.
Source: cointelegraph.com
..where every week, I shortlist interesting articles, posts, podcasts, and videos on AI.
Betsy Vereckey of MIT Sloan has written this interesting piece titled, “4 Questions to Ask Before Swapping Human Labor for AI”
Following the debut of ChatGPT in the previous autumn, an influential AI application capable of responding to inquiries, engaging in conversations, and producing text, both enterprises and individuals have been actively exploring the potential of generative AI. Whether the objective is cost reduction or productivity enhancement, numerous factors necessitate contemplation. In the event an organization contemplates substituting human labor with AI, what inquiries should employers pose?
When we are thinking about ‘Should AI do a task?’ it’s not really a question of ‘Could an AI do a task?’” said John Horton, an MIT Sloan associate professor and IDE research group lead, in the report. It’s actually whether the process of combining AI with human capabilities is worth the effort, he added.
Source: medium.com
Amazon CEO Andrew Jassy has made significant statements regarding the company's advancements in artificial intelligence, prompting further exploration of the topic.
During a recent discussion, prompted by a query from Brent Phil of Jeffries about Amazon's AI monetization plans and potential revenue generation in AWS, Jassy revealed that AWS has experienced substantial growth due to machine learning (ML) and AI over the past several years. This growth has primarily been evident in the domain of computing power usage by ML and AI-focused enterprises.
Furthermore, Jassy highlighted the availability of over 20 machine learning services that Amazon has offered for a number of years, complementing the compute-based services. He expressed enthusiasm about the potential surge in generative AI and stressed that these developments are still in their early stages, signaling a significant future impact.
The CEO discussed the transformative potential of AI on various customer experiences, emphasizing that virtually all customer interactions could be revolutionized by this technology. He noted a trend where companies are less inclined to develop their own large language models due to the associated high costs and time requirements. Instead, Jassy mentioned a strategy of utilizing pre-existing models and customizing them through services like Amazon's Bedrock, available within AWS. This approach allows companies to incorporate proprietary data and efficiently deploy models without the need for extensive investments.
Jassy's positive outlook on AI and Amazon's role in its advancement reflects his confidence in the transformative capabilities of AI. The discussion underscores the broader trend of AI shaping the tech industry and various sectors.
In the 2nd episode of my newly launched “quickie interview” segment, I spoke to Paul Napier, founder of Atometrix.com, a "game-changing", low-code platform that simplifies the app design and development process. Paul is a low-code mobile developer himself with a profound love for AI and mobile apps. He has many projects under his belt and possesses extensive experience in multi-platform development across modern native iOS, Android, web, and more, with a deep and broad knowledge of cross-platform frameworks. Paul is also skilled in prompt engineering for AI applications, driving innovation and empowering businesses to leverage the full potential of artificial intelligence.
Q1) Challenges of being an AI entrepreneur
PAUL: Navigating the swift current of change: As an AI entrepreneur, I've often found myself in a race against time. The landscape of AI evolves at a breakneck pace, and staying relevant means not only keeping up with the latest trends but also anticipating shifts. Adapting business strategies, reshaping product offerings, and retraining my team are recurrent challenges that demand my constant attention. Embracing agility and fostering a culture of continuous learning has become second nature to me in this ever-changing terrain.
Elevating awareness: Communicating the immense potential of AI solutions has been a gratifying yet demanding task. As I tread this entrepreneurial path, I've learned that it's not just about unveiling groundbreaking technologies; it's about translating their benefits into a language that resonates with various stakeholders. Educating potential clients, regulators, and society at large about AI's capabilities and ethical considerations has become a mission that requires strategic messaging and a commitment to fostering trust.
Velocity with responsibility: AI's acceleration to innovation is both exhilarating and challenging. I've come to understand that each leap forward necessitates a pause to assess ethical implications. Balancing the urgency of development with the responsibility to address issues of bias, privacy, and security is a delicate yet essential act. As an AI entrepreneur, I've woven ethical considerations into the fabric of my business strategy, ensuring that the rapid strides we take are aligned with our commitment to a responsible and sustainable AI future.
Q2) Name 2 of the biggest opportunities you see in the AI industry
PAUL: Revolutionising Health and Environment: My journey as an AI entrepreneur has been marked by awe-inspiring moments of realizing AI's potential in the health and environmental sectors. Witnessing AI's ability to analyze complex medical data for early disease detection, or to model environmental impacts for better conservation strategies, has been a driving force. Embracing these opportunities means not only transforming industries but also contributing to the betterment of humanity and the planet.
From SaaS to AI as a partner: Shifting the paradigm from Software as a Service to AI as a collaborative partner has been a defining milestone. In my entrepreneurial endeavors, I've witnessed the transformation of routine tools into intelligent allies. Empowering individuals to make data-driven decisions and automating repetitive tasks has unleashed a new era of efficiency and innovation. This evolution underscores the value of AI in augmenting human potential and reshaping work dynamics across sectors.
Technology's quantum leap: Being at the forefront of the AI industry has allowed me to witness the exhilarating acceleration of technology. Quantum computing, advanced robotics, and AI-driven simulations are opening doors to possibilities I could only dream of. My role as an entrepreneur extends beyond business—it involves pioneering solutions that redefine industries and push the boundaries of human achievement. These opportunities are a testament to the limitless potential of the AI ecosystem.
Q3) AI's impact on jobs and assistance
PAUL: Catalyst for change: Reflecting on the historical context of AI as a catalyst for change, I recognize that it both automates and redefines professions. This duality is at the heart of my experiences as an AI entrepreneur. Embracing automation while preparing for a paradigm shift in work dynamics has been a journey of resilience and adaptation. While certain roles may evolve, my focus is on enabling individuals to harness AI's power and transition into more creative, strategic, and fulfilling roles.
Evolving professional landscape: My entrepreneurial journey has convinced me that AI's impact on jobs is not a zero-sum game but a transformational evolution. The emergence of interdisciplinary roles that blend technical prowess with creative problem-solving has shaped my approach. By fostering talent capable of navigating this evolving landscape, I'm not just securing the future of my business but contributing to the growth of a dynamic and innovative workforce.
Beyond our imagination: Considering AI's profound influence on jobs, I'm reminded of the limitless potential that lies ahead. My experiences have shown me that the future holds jobs we can't conceive of today. Just as the caveman couldn't envision computers, we can't fully grasp the intricacies of AI's impact on our professional lives. As an AI entrepreneur, I'm driven by the excitement of pioneering solutions that will shape industries in ways we can only imagine, ensuring that the future workforce thrives in this unprecedented era of AI-powered innovation.
(*Interviews in this segment are edited for clarity and brevity.)
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