Artificial intelligence has irrevocably permeated the public consciousness after the launch of ChatGPT, a generative AI chatbot late last year, causing both widespread excitement and anxiety.
Debate over the potential benefits and negative consequences of AI has dominated public debate and probably peaked with his resignation last week. Dr. Jeffrey Hintonfrom the so-called “Godfather of AI”, Google.
Dr. Hinton and colleagues at the University of Toronto have created a neural network that can analyze and identify objects in thousands of photographs. This is the foundation of modern AI and applications such as ChatGPT.
Google then bought his company for $44 million, but Hinton has now left the tech giant, fearing that AI will soon become smarter than humans.
His concerns are shared by other tech industry leaders, many of whom signed an open letter calling for a moratorium on ChatGPT’s development this year, and the EU’s first regulation to curb AI, similar to GDPR. We are committed to data protection.
Seederan Irish center for applied research in AI and machine learning, is working on the application of AI, xWave Use AI to predict the best medical diagnostic test for a patient based on input data.
Dr. Oisin BoydellThe head of applied research at CeADAR remains “very excited” about AI, saying it could be as game-changing as genetic engineering, nuclear energy, or the development of certain drugs and vaccines. thinking about. Of course, he sees many advantages and disadvantages to the business inherent in technology.
Strong Points
Automation of existing processes
Irish unicorn says companies are already using AI to handle ‘the drudgery’ intercom For example, we employ ChatGPT for customer service. Dr. Boydell says AI is very good at automating processes that would otherwise require manual work.
With the right data, companies can develop AI solutions for such tasks very quickly and deploy them at scale across different sites within their business and consumers.
And it depends on the data. For example, insurance companies can now monitor assets on the ground using AI solutions that scan satellite imagery of the Earth provided by NASA, ESA, and other space agencies. This data may extend beyond the typical small business.
Improving existing processes
Some business processes require large amounts of rapidly changing data that can be very difficult to understand and continuously monitor, at least for humans.
But, Dr. Boydell says, AI often processes data more efficiently, resulting in “greater accuracy, better forecasting, more precise control of production lines, more precise control of supply chains. , can provide better predictive capabilities”.
For example, smartphone manufacturing has many moving parts in the supply chain between manufacturing, assembly, shipping, and distribution. AI models help improve data sharing between the links of the chain. Otherwise, there is not much human oversight.
Competitive advantage of individual businesses
At this stage in the nascent AI arms race among companies, we have seen Microsoft try to upend the established order of the search market that Google has long dominated by augmenting its Bing search engine with AI. I was.
The tech giant has confirmed that by embracing AI, it can hope to stay ahead of its competitors. Similarly, we need to identify the problems businesses of all sizes are having and consider how AI can address them.
But as Dr. Boydell says, everyone is now trying to jump on the AI bandwagon.
Cons
technical challenges
There are many technical challenges when it comes to using and implementing AI, and technology is not always easier to use and more accessible.
Companies should hire data scientists to provide clean, well-formatted, and well-structured data when creating AI solutions.
Mindset needed
Boydell says AI requires companies to have a data-driven mindset. This can be difficult to swallow for corporate leadership accustomed to following their intuition and trusted allies.
Companies must be willing to invest both time and money when creating AI solutions. Companies that fail to recognize the relevance of AI may miss it, but fear of missing out should not lead them.
Sunk costs can occur if the AI foundation is not in place and companies do not manage their data properly. CeADAR provides an AI Maturity Assessment to assess and better prepare companies considering entering AI.
GDPR
AI systems process a lot of sensitive data, possibly including personal information, and the potential for GDPR violations is always present. Companies using AI will be increasingly regulated once the EU AI law comes into force.
The public has become increasingly aware of AI’s pitfalls in recent months. And concerns about headcount reductions and waves of automation could cause customers to turn their backs on companies that misuse or make mistakes with AI.
EU AI legislation currently in development assigns different levels of risk to different uses of AI, from systems that have no end-user impact to systems that are most likely to be misused or adversely affected. Most restricted.
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