Generative AI: Steam Engine of the Fourth Industrial Revolution?
16 Jan 2024 08:15h - 09:00h
Event report
The development of generative AI has catapulted AI technology to one of the fastest and most impactful innovations of the Fourth Industrial Revolution. From creation to production and distribution, some predict its effect on global value chains is analogous to the steam engines of the Industrial Revolution.
With added qualities of speed, and accessibility, what is the implication for industry worldwide and how do leaders manage its risks?
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Mike Rounds
Artificial intelligence (AI) is widely acknowledged as a critical aspect of modern warfare, with the potential to revolutionize national defense strategies. Its impact extends to various domains, including air, land, sea, space, and cyberspace. By incorporating AI into defense strategies, countries can enhance their military capabilities and gain a significant advantage over their adversaries. The integration of AI into warfare leads to faster decision-making processes and better preparation for conflicts.
In addition to its importance in warfare, AI holds great potential within the healthcare industry. It can significantly improve the quality of life by transforming healthcare practices. AI technologies, such as machine learning and predictive analytics, can help in early disease detection, treatment planning, and personalized medicine. These advancements have the potential to cure or significantly reduce diseases such as cancer, Parkinson’s, and Alzheimer’s. The impact of computer science advancements in healthcare is compared to the transformative power of the steam engine by Mike Rounds, highlighting their significance and potential future advancements.
However, while AI offers immense possibilities, there is a need for regulation to ensure appropriate oversight and protection of citizens and innovators. Uncontrolled deployment of AI could potentially harm individuals without appropriate regulatory measures in place. These regulations should also address issues such as patents and copyrights to protect innovators and encourage responsible use of AI technologies.
The US recognizes the importance of maintaining technological superiority and leveraging its advantage. By restricting the availability of advanced chips, the US aims to ensure its position as a leader in high-speed technology. Networking is one area where the US possesses a significant advantage and needs to maintain a competitive edge. Additionally, the US believes in attracting talented individuals and fostering innovation. Being open to immigration and creating an inviting workplace environment helps attract and retain skilled individuals who can contribute to the development of AI.
Education is another critical aspect highlighted in the analysis. It is essential to ensure that education is accessible to individuals regardless of their location, whether they are in rural or urban communities. Institutions, such as Dakota State University, specializing in cybersecurity and artificial intelligence, demonstrate the need for education to be available for everyone.
In conclusion, AI plays a central role in modern warfare and has significant potential in healthcare, national defense, and other sectors. Its integration requires regulation to ensure responsible use and protection of all stakeholders involved. The US recognizes the importance of maintaining its technological advantage, attracting talent, and promoting education accessibility. Leveraging computer science advancements can lead to transformative impacts in healthcare and various industries. Overall, effective incorporation of AI technologies holds promising prospects for the future.
Julie Sweet
The adoption of newer technologies is not limited to a specific industry and is prevalent across all sectors. Currently, there are more than 700 projects underway in various industries, demonstrating the widespread embrace of innovative technologies. However, there is a warning against complacency within the industry, as there are fast movers in every sector. This means that companies must remain proactive and continuously adapt to stay ahead of the competition.
Leadership understanding of technology is considered a crucial factor for success. The vast use cases of technology, such as artificial intelligence (AI), necessitate a deep understanding by leaders. This understanding is important for operationalizing technology effectively within organizations. By grasping the potential and limitations of technology, leaders can drive their companies towards digital transformation and create a competitive advantage.
Furthermore, it is emphasised that the responsible use of AI is of utmost importance. AI must be implemented in a manner that aligns with ethical considerations and societal impact. This ensures that the potential benefits of AI can be realised while minimising potential risks.
Additionally, reskilling the workforce is crucial to fully embrace new technologies. AI, for instance, has the potential to create numerous new jobs, but the existing workforce may not possess the necessary skills required for these roles. It is suggested that governments and companies should collaborate to provide opportunities for reskilling and upskilling employees. By investing in workforce development, companies can tap into the full potential of new technologies and drive economic growth.
The creation of well-paying jobs for people through AI has the potential to solve a multitude of problems. This highlights the positive impact of technology on employment and economic growth. By creating opportunities for individuals to secure stable and well-paying jobs, societies can reduce poverty and foster economic prosperity.
Furthermore, while there is a growing recognition of the importance of technological understanding in the C-suite, it is acknowledged that this understanding is still in its early stages. However, there is notable progress being made in this area, as evident by the increasing number of individuals who have signed up for workshops to enhance their technology understanding. The focus on value and talent within organisations indicates a growing awareness of the need for technological expertise at the highest leadership levels.
In the current fast-paced technological landscape, a culture of continuous learning is necessary for employees. Organisations must foster an environment that encourages and supports ongoing learning in order to adapt to changing technologies and remain competitive. Companies such as TQ have taken the initiative by implementing programmes to train their staff in basic technology skills like AI, cloud, and agile organisations, demonstrating the importance of continuous learning and development within organisations.
It is evident that there is an urgent need for partnerships with governments to modify basic education in order to meet the future needs of the workforce. Basic education systems must adapt to equip individuals with the necessary skills and knowledge for an increasingly technology-driven world. Global companies also play a crucial role in shaping education policies and should actively contribute to transformation efforts. Learning from successful education policy transformations in countries like the UAE can provide valuable insights for other nations.
Lastly, AI is considered the steam engine of the fourth industrial revolution. This highlights the transformative power and impact of AI in driving innovation, productivity, and economic growth. As technology continues to advance at a rapid pace, AI stands as a significant driver of change in shaping the future of industries and societies.
In conclusion, the adoption of newer technologies is widespread across industries. Leadership understanding of technology, responsible use of AI, reskilling the workforce, creation of well-paying jobs, and continuous learning are all crucial components for navigating the rapidly evolving technology landscape. Partnerships with governments and modifications to education systems are also essential to prepare the future workforce. AI stands at the forefront of the fourth industrial revolution, representing significant potential for transformation and growth.
Omar Sultan Al Olama
Artificial Intelligence (AI) has emerged as a revolutionary technology with the potential to transform various aspects of society. It encompasses elements of previous revolutionary technologies that humanity has embraced in the past. This acknowledgment highlights the immense power and potential AI holds.
One notable aspect of AI is its ability to scale up intellect and enhance global competition. By embracing AI, individuals and organizations can acquire the necessary skills and tools to compete on a global front. The transformative capacity of AI ensures that those who embrace it will remain complete, while those who are late to adopt it will be finished. Those who reject AI altogether will find themselves completely finished. This statement emphasizes the importance of AI in remaining competitive in this rapidly evolving world.
However, AI is often misunderstood and perceived negatively due to its portrayal in entertainment media. Negative images from films such as “The Terminator” and “iRobot” have created fear and lack of understanding surrounding AI. Additionally, governments often react to AI with ignorance and a desire to control it through excessive bureaucracy. This negative perception hinders the full realization of AI’s potential.
Contrary to this negative perception, the United Arab Emirates (UAE) recognises the power of artificial intelligence and actively promotes its development. The UAE believes in the potential of AI and advocates for a proactive regulatory framework to guide its deployment. The country envisions building a responsible AI nation, where AI is embraced rather than feared, and regulations are applied thoughtfully and not prematurely.
Deploying AI in non-controversial areas can significantly improve the quality of life for individuals. The UAE plans to use AI in sectors such as oil and gas, climate change, and reducing traffic. By leveraging the capabilities of AI, the UAE aims to address global challenges like climate change, where human capacity alone may be insufficient.
The UAE has also established its own AI capabilities, with cutting-edge infrastructure that allows for fast and efficient data use. The country’s unique data set, consisting of 200 nationalities living in densely populated cities, provides valuable insights for AI development. The UAE’s less bureaucratic regulatory regime enables quicker movement and fosters innovation in the field of AI.
Collaboration with other AI giants is an important aspect of the UAE’s AI strategy. By working with organisations like OpenAI and IBM, the UAE can leverage their expertise and foster knowledge-sharing in AI research and development.
Education plays a crucial role in preparing individuals for the future. In the UAE, AI education is deployed in schools from a young age, starting from grade five onwards. The skills necessary for the future include adaptability, technology embracement, agility, robust skill sets, and future curiosity. The UAE’s push for AI education aims to equip individuals with these essential skills.
To ensure AI readiness, the UAE has implemented several initiatives. This includes partnering with the University of Oxford to train government officials in understanding AI and celebrating a dedicated day annually to technology and AI. These efforts signify the UAE’s commitment to promoting AI knowledge and engagement with the populace.
In terms of regulation, the conversation needs to focus more on responsible regulation and deployment of AI rather than succumbing to hype. Governments often over-regulate AI out of fear of the unknown, which may stifle innovation. The hype surrounding self-driving cars, for example, has not yet resulted in significant changes or regulation. As the goalpost of progress keeps moving, governments may lose interest. Therefore, it is essential to strike a balance in regulation to ensure the responsible and effective deployment of AI technologies.
Furthermore, the successful regulation and deployment of AI require global collaboration. No single country can effectively regulate and deploy AI independently. Collaborative efforts among nations are necessary to understand and guide the progression of AI technology.
In conclusion, AI holds immense potential to revolutionise various aspects of society. It encompasses elements of previous revolutionary technologies and has the ability to scale up intellect and enhance global competition. However, AI is often misunderstood and perceived negatively due to its portrayal in entertainment media. The UAE stands out as a country that believes in the power of AI, advocates for proactive regulation, and actively works towards building a responsible AI nation. The deployment of AI in non-controversial areas can improve the quality of life and address global challenges. Collaboration with other AI giants and emphasis on AI education are vital elements in promoting AI readiness. However, it is crucial for governments to focus on responsible regulation and deployment rather than succumbing to hype. Global collaboration is necessary for the successful regulation and deployment of AI.
Zanny Minton Beddoes
In the era of globalisation, it has become increasingly important for individuals to acquire new sets of skills in order to thrive. The lack of emphasis on skill development in the past has resulted in a backlash against trade. This sentiment is supported by the fact that during the first era of globalisation, not enough focus was placed on equipping people with the necessary skills.
One of the key arguments presented is the need for individuals to acquire new skills to adapt to the changing global landscape. Globalisation has transformed the way businesses operate, and individuals must possess the relevant skills to compete and succeed in this new era. The argument suggests that the lack of skills preparation has hindered individuals’ ability to fully benefit from globalisation.
This argument is supported by the observation that in the past, insufficient emphasis was placed on equipping individuals with the skills needed to thrive in the globalised world. The summary highlights that this lack of skills preparation led to a backlash against trade. This indicates that individuals who were not adequately prepared for the demands of globalisation may have experienced negative consequences, which could have potentially impacted the overall perception of globalisation.
Additionally, the analysis notes that the need for skill development aligns with the Sustainable Development Goals (SDGs). Specifically, SDG 4 emphasises the importance of quality education, which includes equipping individuals with the necessary skills to thrive in a globalised society. Moreover, SDG 8 focuses on decent work and economic growth, suggesting that skill development is crucial for achieving these goals.
The overall sentiment towards the argument is assessed as neutral, indicating that the analysis presents an objective viewpoint without a strongly positive or negative leaning. It is worth noting that the analysis emphasises the importance of skill development in the era of globalisation and highlights the potential negative consequences of a lack of skills preparation. This insight serves to further underscore the significance of acquiring new sets of skills in order to thrive in the current global landscape.
Arvind Krishna
Artificial intelligence (AI) has the potential to generate £4 trillion in annual productivity by the end of the decade. This immediate productivity advantage is being embraced by companies and nations that understand the value of AI. The areas most impacted by AI include coding, customer service, and digital labour. AI has the ability to increase the productivity of programmers by 20, 30, or even 40 percent. It can also assist in various tasks such as answering emails, phone calls, and handling challenging problems. Additionally, AI has the potential to enhance productivity in HR, finance, invoicing, contracting, supply chain, and ordering tasks.
It is crucial for individuals and organisations to embrace AI to avoid the risk of job displacement. While there may be concerns about AI leading to job losses, it is important to recognise that AI is not necessarily about job displacement but rather about making oneself more productive. Failing to embrace AI could result in potential job displacement. Therefore, the adoption of AI is crucial to ensuring decent work and economic growth.
Technology is moving at an incredibly fast pace, and this rapid advancement is seen in various sectors such as AI, semiconductors, and the internet. It is estimated that technology is moving approximately 10 times faster than previous major advancements. However, guardrails are needed to regulate technology innovation and prevent misuse. While innovation is essential, it is equally important to establish regulations that balance innovation and prevent potential harm.
In terms of regulating technology, it is suggested that focus should be placed on regulating use cases rather than the technology itself. Regulating the technology itself can stifle innovation, so it is more effective to regulate specific use cases based on their associated risks. This approach allows for a balance between innovation and responsible use of technology.
Developers should also be held legally accountable for any misuse of data or applications. If developers misuse data or create applications that have negative consequences, they should face legal consequences. This accountability ensures that developers prioritise ethical practices and consider the potential impact of their creations.
An open ecosystem that allows for the free use and accessibility of digital technologies and cloud services is advantageous for economic growth. By promoting an open ecosystem, innovation can thrive and economic benefits can be maximised. Therefore, regulations should be put in place to enable and support this open ecosystem.
Digital technologies and cloud services are difficult to contain within borders. They provide opportunities for individuals and businesses to access services from anywhere via the internet. While certain activities may require physical locality, they are relatively few in number. Therefore, it is important to prioritise the use and accessibility of digital technologies and cloud services, even in the face of regulatory or geographical challenges.
AI is having a significant impact on white-collar work and the lower half of cognitive work. As AI continues to advance, it becomes increasingly important to focus on developing critical thinking skills. Regardless of the domain, critical thinking skills are becoming essential in order to adapt to the changing landscape due to AI.
Continuous learning is necessary in order to adapt to the rapidly evolving technological landscape. The half-life of skills has decreased from 30 years to just seven years. This highlights the importance of continuously updating and acquiring new skills to remain competitive in the workforce.
To create a positive and practical approach towards adopting new technologies without fear, hands-on workforce training exercises can be implemented. By providing employees with tasks or challenges and encouraging them to form teams and modify those challenges, companies can facilitate experiential learning. This approach has been successful in training large numbers of individuals and can be implemented by any organisation.
In conclusion, AI has the potential to significantly impact productivity, job displacement, and workforce skills. Embracing AI and establishing regulations to guide innovation and prevent misuse are necessary for economic growth. The use and accessibility of digital technologies and cloud services should be prioritised, and individuals should continuously update their skills through continuous learning. By adopting a positive and practical approach to new technologies and providing hands-on training, companies and organisations can ensure a smooth transition to an AI-driven future.
Cristiano Amon
Artificial Intelligence (AI) and Gen AI are rapidly emerging as the next wave of computing, fueled by the availability of vast amounts of data and significant advancements in computing power. This shift is expected to revolutionize the way software is developed and used.
One crucial aspect that enables AI and Gen AI is access to data and computing power. AI relies on processing large volumes of data to generate intelligent insights and predictions. With the increasing availability of data and computing resources, AI processing is poised to become the primary method of performing complex computations.
To bring AI to scale, the use of distributed processing power is critical. By enabling processing power on various devices such as phones, PCs, and even cars, AI can be integrated into a wide range of industries and manufacturing equipment. This widespread adoption of distributed processing power will pave the way for AI to have a significant impact on multiple sectors.
The influence of AI is not limited to industries and machinery; it is also transforming human-computer interaction. Intelligent tools like smartphones, which have become an integral part of daily life, rely on AI engines to process data and predict user actions. AI is performing tasks such as scheduling meetings, accessing information, and even mimicking human-like behavior in chatbots, fundamentally changing the way individuals interact with technology.
The opportunities presented by AI and Gen AI are immense, as they drive innovation and contribute to technology leadership. The pace of AI development is remarkably swift, heralding a paradigm shift in how we perceive computing capabilities. AI represents a new way of thinking about computing, enabling humans and machines to engage in conversations that enhance productivity in various domains.
Cristiano Amon emphasizes the importance of respecting intellectual property in an innovation-driven economy. Companies focusing on innovation consider intellectual property crucial for their success. Amon’s company, for instance, aspires to be a front-runner in patent applications, underscoring the significance of patents in the realm of AI, which is still a novel area of exploration.
To ensure widespread innovation and access to AI, it is imperative to keep AI platforms open and avoid closed ecosystems. An open ecosystem fosters an environment where everyone has the right to innovate, preventing AI from being restricted to a select few. This advocacy for openness and accessibility aligns with the goal of democratizing technology to reduce inequality.
The rise of Gen AI has further amplified the urgent need for digital transformation across industries. Even before the advent of AI and Gen AI, digital adaptation was recognized as a necessity. However, the presence of Gen AI has made digital transformation critical for businesses to retain their competitive edge and sustain growth.
AI’s ability to process data and automate repetitive tasks frees up human potential for more creative and innovative pursuits. By delegating mundane and repetitive tasks to AI systems, individuals can focus on activities that require critical thinking, problem-solving, and innovation.
Overall, the transformative power of AI and Gen AI, enabled by access to data and computing power, offers immense promise. It is reshaping industries, revolutionizing human-computer interaction, driving innovation and technology leadership, and emphasizing the importance of intellectual property. The call for openness, accessibility, and digital transformation further underscores the far-reaching impact of AI on society as a whole.
Speakers
AK
Arvind Krishna
Speech speed
198 words per minute
Speech length
1098 words
Speech time
332 secs
CA
Cristiano Amon
Speech speed
194 words per minute
Speech length
1673 words
Speech time
517 secs
JS
Julie Sweet
Speech speed
182 words per minute
Speech length
1133 words
Speech time
373 secs
MR
Mike Rounds
Speech speed
194 words per minute
Speech length
1313 words
Speech time
407 secs
OS
Omar Sultan Al Olama
Speech speed
220 words per minute
Speech length
1815 words
Speech time
495 secs
ZM
Zanny Minton Beddoes
Speech speed
197 words per minute
Speech length
1945 words
Speech time
591 secs
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