In an era where artificial intelligence (AI) is gaining momentum in the business world, companies are eager to invest in this transformative technology. However, it is crucial for businesses to consider the potential risks associated with over-investing in AI and the need for safety strategies to protect their workforce. A recent study by Deloitte revealed that 28% of respondents are concerned about AI threatening their jobs.
To shed light on this topic, Technology Magazine spoke with Sreekar Krishna, Principal/Partner and Head of AI at KPMG. Krishna emphasized the growing focus on ethical AI, with organizations prioritizing transparency, fairness, and accountability in AI systems. He highlighted advancements in natural language processing (NLP) that have led to the development of virtual assistants and chatbots capable of better understanding and responding to human queries. Machine learning automation tools and edge computing have also gained popularity, streamlining the deployment of machine learning models and enabling faster response times.
AI is making significant progress across industries such as healthcare, finance, and cybersecurity. Notably, large technology corporations like Google are investing heavily in leveraging AI as an ally to improve global security outlooks. However, the benefits of AI investments are not limited to these giants; smaller businesses can also reap the rewards.
Upskilling employees in AI is essential to “future-proof” organizations. The continuous job cuts in the technology sector have caused widespread anxieties. According to Technology Magazine’s previous report, 2023 saw significant layoffs, with over 200,000 job roles eliminated. Nevertheless, there is a renewed focus on technology investments, as a Capgemini report found that 83% of business leaders plan to increase their investments in digital tools, including AI.
Krishna pointed out that organizations are increasingly hiring individuals with exposure to AI tools, recognizing the importance of upskilling. This investment not only shows commitment to professional development but also provides employees with a competitive edge. As AI becomes a driver of innovation, businesses will realize its full potential and seek to explore further use cases, requiring their staff to use AI in new ways and drive innovation within the organization.
To successfully invest in AI, Krishna advises businesses to clearly define the problems or opportunities that AI can address and align them with their objectives. Having an empowered leader to guide the AI investment strategy is crucial to avoiding duplication or wasted resources. Additionally, organizations need to ensure reliable and well-organized data, establish a robust governance framework, and address ethical considerations, data privacy, and regulatory compliance.
By following these guidelines, businesses can make informed AI investments that generate value and sustainable competitive advantage. As the AI landscape continues to evolve, organizations that equip their workforce with AI skills will navigate this technological shift with confidence.
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FAQs:
1. What are the potential risks associated with over-investing in AI?
– Over-investing in AI can potentially threaten jobs, as 28% of respondents in a study by Deloitte expressed concern about AI threatening their jobs.
2. What are the key focuses for organizations in ethical AI?
– Organizations are prioritizing transparency, fairness, and accountability in AI systems.
3. What are some advancements in AI technology?
– Advancements in natural language processing (NLP) have led to the development of virtual assistants and chatbots capable of better understanding and responding to human queries. Machine learning automation tools and edge computing have also gained popularity, streamlining the deployment of machine learning models and enabling faster response times.
4. Which industries are making significant progress in AI?
– Industries such as healthcare, finance, and cybersecurity are making significant progress in AI.
5. Why is upskilling employees in AI essential?
– Continuous job cuts in the technology sector have caused anxieties, and upskilling employees in AI can help “future-proof” organizations. According to a Capgemini report, 83% of business leaders plan to increase their investments in digital tools, including AI.
6. What is the first step for businesses to successfully invest in AI?
– Businesses should clearly define the problems or opportunities that AI can address and align them with their objectives.
7. What else should organizations consider when investing in AI?
– Organizations should have an empowered leader to guide the AI investment strategy, ensure reliable and well-organized data, establish a robust governance framework, and address ethical considerations, data privacy, and regulatory compliance.
Definitions:
– Artificial Intelligence (AI): Technology that enables machines to simulate human intelligence and perform tasks normally requiring human intelligence, such as visual perception, speech recognition, and decision-making.
– Natural Language Processing (NLP): A branch of AI that focuses on the interaction between computers and human language, enabling computers to understand, interpret, and generate human language.
– Machine Learning: A subset of AI that allows machines to learn and improve from experience without being explicitly programmed.
– Edge Computing: A computing model in which data processing occurs near the edge of the network, closer to the source of data generation, rather than in a central location.
Suggested Related Links:
– KPMG
– Deloitte
– Capgemini
The source of the article is from the blog shakirabrasil.info