7Nov2023
4 AI Lessons from Nordic Business Forum 2023
by: Nordic Business Forum
In the ever-evolving AI landscape, businesses should embrace opportunities while being vigilant about the challenges, ethics, and security implications of AI. Four AI experts stepped on the stage of Nordic Business Forum 2023 and left us with some important lessons that impact both business and our daily lives.
Where the Ball is Rolling
Business leaders must recognize the rapid advancement of AI and the potential for superintelligence. AI has evolved much faster than anticipated, and its future potential, along with the ethical and societal challenges it presents, requires proactive and responsible preparation and management.
Mo Gawdat gave us an important piece of advice at NBForum 2023: Don’t focus on where the ball is right now, focus on where the ball is rolling. And, oh boy, the ball is rolling fast.
The current state of AI, exemplified by systems like Chat GPT, is just the tip of the iceberg. You shouldn’t fixate on current AI capabilities. Rather, you should anticipate the potential of superintelligence and Artificial General Intelligence. This includes the concept of “singularity,” where AI surpasses human intelligence in all aspects.
It’s not a matter of if but when AI reaches a level of superintelligence. The importance lies in preparing for this eventuality by addressing key challenges, such as job displacement, wealth inequality, misinformation, and the potential for an AI arms race. Mo suggested, for example, the need for new regulations, a universal basic income, and changes in taxation to address these issues. According to him, AI should be used in ways that align with ethical principles and bring humanity forward. He envisions a future where AI can help solve global crises and urges the world to embrace AI while advocating for its ethical and responsible development and usage.
Human Involvement and Bias
Navigating the complex and unpredictable future of AI requires a nuanced understanding of its development, training, and potential applications. Even experts like futurist Amy Webb cannot predict precisely where AI is heading due to the multitude of interdependent variables at play. She cautioned against oversimplified and sensationalized views of AI, such as it leading to the end of humanity or rendering humans redundant. Instead, Amy pointed out the role of humans in creating and training AI, which many seem to forget in the general conversation.
AI’s effectiveness is attributed to the massive amount of data it relies on for training. But where does the data come from? Is it acquired legally? AI doesn’t operate in isolation and requires human involvement in training and reinforcing its learning. The use of human trainers introduces biases and limitations, indicating that AI’s sophistication depends on the quality of training.
Understanding the data sources, the training process, and the technology’s integration into our daily lives and business is vital for building trust in AI. We should be asking more questions about AI’s development and decision-making, especially related to data and human involvement in training.
Economic and Market Impact
AI is driving significant economic and market changes, offering opportunities for the refinement of data and productivity. However, it also presents challenges and potential risks that require regulatory intervention and responsible management.
Scott Galloway considers himself an AI optimist. He predicts that by the end of the year, inflation concerns in Europe and the US will decrease, and big tech companies will have their most profitable quarters ever despite revenue deceleration. Scott attributes the success of these tech companies, including Meta, Amazon, Google, Nvidia, Apple, Tesla, and Microsoft, to the value generated by AI, which has had a remarkable impact on market capitalization.
He also underscored the importance of AI in refining data and providing more accurate and useful information. Scott notes that AI, such as ChatGPT, offers concise and relevant answers compared to the overwhelming number of results from traditional search engines. He even suggested that AI can act as a “time machine” by reducing the time spent on various tasks and improving productivity.
However, Scott also recognized that there are winners and losers when it comes to AI. He categorized winners in the AI space into three groups: infrastructure providers, Large Language Models (LLMs) companies, and front-end AI applications firms. He pointed out that the AI sector is becoming a “winners-take-most” scenario, with a small number of players reaping the most benefits.
Ethics of Creation
Generative AI raises ethical challenges and security concerns. However, businesses should not ignore the potential benefits of AI adoption. Technology revolutions, including the AI revolution, come with a dual nature, offering opportunities and risks simultaneously.
The expansion of machine-learning algorithms’ capabilities has led to the development of generative AI, which can create various content, such as images and music. While this technology has positive applications, it raises ethical questions about the use of AI to generate content that combines the work of other artists. Mikko Hyppönen emphasized the need for discussions around the ethical use of AI, especially when it comes to blending or creating content.
Mikko also pointed out the threats of Deep Fakes and Rogue AI. Rogue versions of generative AI are created and used for malicious purposes, such as writing phishing emails and malware. Deep fakes, created with generative AI, pose a risk, as they can be exploited in scams or fraudulent activities.
On the positive side, AI can also be used to identify security vulnerabilities and strengthen systems. Mikko reminded us that, like previous technology revolutions, the AI revolution comes with both positive and negative aspects. While AI offers significant benefits, its misuse and the emergence of rogue AI applications pose challenges that need to be addressed.
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