Businesses Must Embrace AI ‘Revolution’ or Risk Falling Behind, Experts Say

AI Technology

Experts and academics gathered at the 2023 Data and AI for Business Conference and Exhibition in Perth to emphasize the importance of embracing artificial intelligence (AI) in the business world. They highlighted that AI will have a significant impact on jobs and encouraged businesses to stay informed and adapt to this technological revolution.

Disruptive Technology with Job Transformations

The chief scientist of the AI Institute at the University of New South Wales, Toby Walsh, stressed that AI will be “very disruptive” to the employment landscape. He noted that while certain jobs may be transformed or created, others may be destroyed. Walsh emphasized the importance of learning and utilizing AI technology as a way to increase productivity and job security.

Maximizing Opportunities with AI

The conference aimed to brainstorm solutions for business owners to leverage AI and capitalize on opportunities. Estimates suggest that AI has the potential to grow the world’s economy by 15 percent, prompting discussions on how Australian businesses, including those in Western Australia, can benefit from this growth.

Alex Jenkins, the director of the WA Data Science Innovation Hub, highlighted that industries such as mining, farming, and medical research could greatly benefit from AI’s capabilities. Jenkins noted that businesses of all sizes should explore AI integration and suggested using tools like Chat GPT as a way to get started and familiarize oneself with AI technology. Alternatives to ChatGPT are GoCharlie, Jasper and more

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The Broader Implications of AI

While the conference primarily focused on AI’s impact on businesses, there were also discussions about the wider implications of AI in society. The positive changes AI could bring to education, such as personalized tutoring, and access to legal representation for those unable to afford a lawyer, were highlighted. Mathematician Adam Spencer compared the significance of AI to the smartphone revolution and spoke about the potential for AI to enable remote surgeries.

However, concerns were also raised about the potential misuse, weaponization, and ethical implications of AI. Alex Jenkins expressed concerns over the concentration of AI power in the hands of a few corporations, emphasizing the need for access and equality. Jenkins called for clear regulations at the federal level to strike a balance between regulation and innovation.

We are particularly interested in seeing Lily Serna, Prof Toby Walsh and all of the speakers.

Overall, the conference served as a call to action for businesses to embrace AI’s potential and adapt to the changing technology landscape. The 2023 Data & AI for Business Conference & Exhibition is being held now on 2nd & 3rd August 2023 at The Westin, Perth, there still limited tickets available.

For more information see the WA Data Science Innovation Hub website https://wadsih.org.au/conference/

About Author

Teacher, programmer, AI advocate, fan of One Piece and pretends to know how to cook. Michael graduated Computer Science and in the years 2019 and 2020 he was involved in several projects coordinated by the municipal education department, where the focus was to introduce students from the public network to the world of programming and robotics. Today he is a writer at Wicked Sciences, but says that his heart will always belong to Python.