How AI Impacts Business and Society at Large
We’re living in the artificial intelligence (AI) era. An era where automation is enforcing strategists to transform the way they handle businesses.
From research to innovation and market deployment, AI strategists need to closely start working on reshaping business models.
Recognizing the significance of artificial intelligence professionals in businesses, many organizations have started hiring practitioners and experts from varied fields like AI and data science.
- In July 2020, a think-tank, “Financial Times Future Forum” directed panel discussions around the topic, “The Impact of Artificial Intelligence on Business and Society.”
The panel comprised of multiple experts sharing their thoughts on the realities of AI — What it can and cannot do, and what it means for the future. While the discussions broaden, AI was also defined as any machine that performs what any brain would do. But if so, we were to define intelligent machines under the same category — it would still have many limitations. We can say, we’re still far from the cyborgs shown in movies like the “Terminator.”
In reality, these machines are yet to exist. They lack self-awareness and are yet to understand the context and language for that matter. Even if taken at the operational level, such machines are still limited by the historical data through which they’re learning. Additionally, they’re still restricted to function even within the given parameters.
As pointed out by Rose Luckin, author of Machine Learning and Human Intelligence and a professor at University College London Knowledge Lab,
AlphaGo for sure conquered a board game by winning against a human player, but the same machine won’t be capable of driving a car or diagnose diseases like cancer.
