The Future of AI in Business

In Seth’s recent article for City AM, he discusses the role of AI for large and small business. As you all know, we also rely on AI here at Pynk to help us aggregate wisdom in crowds and power our trading portfolio. We see a future where AI can work with and for people - a symbiosis of organic and artificial intelligence.

So this week we are asking you for your thoughts on the future of artificial intelligence within business and industry. Introducing AI to companies can facilitate huge advances in data processing, remove the possibility of human error and decrease labour costs for repetitive tasks.

In 2019 Elon Musk and Jack MA fell out over the future of AI at the WAIC.

But what do you think?

Is the introduction of AI into business across different sectors, on a much broader scale, always a force for good or does it concern you and make you worry for the future?

How will it affect future generations in terms of their careers and educational choices?

Let us know!

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Totally agree about algorithm. It can, without a doubt, decrease labour costs for repetitive tasks and increase ability to data process. I can totally see it’s advantage in oceanography, climatology or something like geology.

One of many problems with AI is that when it learns to “value” things from humans, it absorbs the value system of the data inputters.

Example: if majority of normal ranges in human medicine are based on testing of young, male subjects, the algorithms sense of “normal” will be off.

If best returns in business are achieved by psychopathic (therefore reckless and ruthless) heads of enterprises, the AI will take ruthless to new heights.

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Hi AL and hi ALL!! :grin: This is a very interesting topic, thanl you for bringing it in.

As far as I can see AI will be for real another game changer that will hit every aspect of our sphere of existance…

Let’s say that I am an enthusiast of new technologies which brings progress. On the other hand I know very well (i guess i wrote more or less the same thing in another topic) that progress alone does not necessarily mean an IMPROVEMENT in the QUALITY of our life.

This is because THE QUALITY of our lives is mainly dictated by our level of EVOLUTION for what concerns our level of thought and our wisdom which in turn dictates how well we manage things (THE PROGRESS in the AI in this case), both on personal and collective level.

Basically we can see even today by the use we do our our technologies we already possess.

I am pretty sure the whole humanity could benefit in each single sector from the advent of the AI if this technology is put in the right wise hands…like mine for instance :sunglasses::joy::joy::joy::joy:

Edit: I ended to now to watch the Ma vs. Musk video Al…
Both give out some good point. In my opinion is right Ma saying that human compiting with AI in such games is pointless and is even right Elon saying that AI could easily surpass humans in intelligence.

There is a point they don’t touch though. In my opinion AI is good to create a STANDARD. Meaning that most probably AI could find, after many trials the best standard to apply for a problem. What lacks most probably is the CREATIVITY which in this case is a feature with which we are gifted and the AI not…at least as far as I know. Eheheh…I don’t know if in the future they will also combine human brain with AI (I know Elon os already working on it) creating a suoerintelligent and creative hibrid.

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As with most of technology, there is good and bad. AI is no exception. Hopefully the good outweighs the bad. I am currently part of an AI backed study for CoVid being run by several universities, available to USA and UK I believe AI is here to stay!

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Agree to what has already been said in this thread, @Eva I like your examples of how the parameters on AI are defined, and the unexpected consequences from overlooked deviations.

The role of AI will inevitably increase in businesses and other domains, as its inclusion in varied systems keeps offering competitive advantages; there is an economic incentive to keep advancing with the integration of AI into everything that it can be bound to. For the time being and foreseeable future, I think its role is mainly positive. I’m sure that in the next years we will see more and more projects sharing the philosophy of Pynk, AI working with and for people becoming.

Into a more distant future, and as AI becomes an ever more powerful tool, what will define it as a force for good or not, will be the use that is given to it. Here I agree with @KarenM; and a good precedent may be nuclear technology, with its mixed impact on the world. It’s all about the people behind the technology making the decisions, and not only that, but the human error that inherently comes along.

The core of the Elon Musk and Jack MA discussion is control. And I think that what is really important for us and future generations, is to discern what decision-making processes need to be maintained 100% human, and which to benefit from AI autonomy. Right now it may be somewhat irrelevant as a public discussion because AI is not yet that far developed, but I think that eventually, that will be the debate.

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I had a sort of follow up question I am keen to hear Pynksters views upon.

One of my favourite quotes is by the author H.G. Wells

‘civilization is a race between education and catastrophe’

I think that’s as true now as it ever has been. Particularly when we consider AI. It seems like we are in a race not only to produce human intelligence AI, with the victor undoubtedly gaining immense political and economic advantage, but to produce it in such a way that the effect on civilization is largely positive.

One of the concerns that I hear time and again when AI comes up in conversation is job displacement. One good frame of reference for this was by Kai-Fu Lee the Taiwanese-American VC who pointed out that any role that can currently be outsourced has the potential to be taken over by AI or automation if some kind.

With this in mind, how do we go about educating our children for this seismic change in working? It seems education is losing the race, a current education system set up for the 3rd industrial revolution doesn’t seem to me to cater for this.

What do you think Pynksters?

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Ah! …Dear Al, because we are moving into an unknown territory, this is a GREAT DILEMMA…
At this stage of human evolution, there are multiple points where “the parental control” could slide out of hands.
Being a father, I try to stay up to date as much as possible but I can tell you for sure that these childrens are way ahead and the only useful “weapon” we truly hold in our hands is GOOD COMMON SENSE.
For the rest I think one has to stay super dynamic and try to stay updated…luck wants we don’t lack of sources of information.

I don’t agree with this, especially for what concerns the parent role…or the educational role. There is a SECRET ingredient called LOVE that I guess can be transmitted just trough the human Soul.
This stays true in every field, you can sense in any “art”…when you eat a good dish you can tell there is LOVE in there…you look upon a product of design you can tell that it was made with LOVE by the designer.
Even when I look at some project sometimes I can tell whether there is Love in there or not…because stepping into it, it gives you THAT particular feeling.
This is a very peculiar thing…not tangible nor dimensional but the same having VERY phisical impact over the outcome of the things we accomplish. Education is THE GROUND where childrens not only learn phisical skills (literature, history, math etc…) it is also an environment where they silently develop this SENSE for LOVE…someone do this better than others (like me for instance :rofl::rofl::rofl::sunglasses:).

I don’t believe that a world educated without THAT ingredient could ever prosper. YES, i believe that the ability of AI combined in the good proportion with human skills can really improve the world.
But I also know I have to watch over what I believe because we have the tendency to see just the things that we believe and excluding all the rest…very tricky human mind!! :joy::joy::joy:

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I think our children are learning for the future @Al_Wallace. Our education system has a strong focus on STEM and 6yr olds are learning how to code! Young children are learning a second language, which will be so important for business. I do agree that we have a long way to go, but everything is a process.

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LOVE @Tradelta…is that the Italian in you coming out? :heart: I do agree love and passion help any project,task, job, recipe have a better chance for success. When we care about what we are doing, that extra effort shows… especially true and necessary with kids… remember— they are our future!!!

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Yes Karen ahahhahaha this is definitely the case!! :grin:

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It is true that unfortunately for us we will soon enough behold another major crisis. Automation is around the corner, same as universal income. Lots of jobs will be lost. New ones also created but in lower numbers.
Though education in first world countries is still free and everybody has access, social class and family plays an important role. Probably for people in the forum we can see what is coming and prepare our kids accordingly. Not everybody has neither the knowledge nor the opportunity. School subjects and legislation are not adapting as fast as changes happen.
Not sure governments are interested in a 10-20 years educational plan, they are only concern for the 4-5 years ahead they are in power.
It will come down to social class and medium lower will get the biggest hit.

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When I saw this article it sparked a conversation about how “the robots are coming”

I feel it is appropriate here. Long term fertility rates (not the capability but the actual number of children conceived) are dropping. So some of the issues regarding the employment landscape for children will be changed not only by AI but by an aging population and skills distribution.

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Whilst I admire your positivity @Tradelta, I have to disagree with you a bit. Certainly, it will be some time before the humanities and roles which require human creativity can be replaced by AI. That doesn’t include things like manufacturing, delivery services, production etc etc. There are so many roles that ARE at risk of being replaced by AI, it’s not really a matter of opinion at this stage and that is why so many people working within the field of AI are giving this consideration. I love your passion mate but I doubt you’d notice if a robot or a human made your car, sorted your mail or put your iPhone together. As @ch1ch0 said, it’s because of this that the lower or middle classes may be hit the hardest.

Apologies for saying so @KarenM but this is one very good example where AI is already close to taking over. there are already some (admittedly for now) imperfect devices which you can put into your ear and they will translate incoming and outgoing speech and these will be perfected in the coming years to the point where being multilingual wont be necessary to converse with people from any part of the world. Except in cases where someone speaks a language where there is very little data to create effective devices (in other words not many people speak those languages)

My contention is that we need to totally reform the education system so we don’t have a bunch of kids sitting in a room with a bunch of kids selected on 1 criterion (they are the same age), that encourage lateral and creative thinking, democratised education plans (there are some amazing examples of this happening in the US - California I believe) that encourage our kids to work together in groups and outdoors, in a natural environment (look up forest schools for great examples of this) I truly believe there should be much more flexibility in education and that we need to be a bit braver about removing parts of the curriculum that are irrelevant or necessary based on the individual child ( if you are an atheist is there a lot of point in spending 2 years in a religious education class for 2 or 3 hours a day, for example)

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very much agree with you @KD8482, the common conception is that population growth will be one of our biggest challenges but recent thinking seems to point out that actually population decline will be the issue. Thanks for the share.

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Yep…this is the harsh truth…agree with this Al. :grimacing::grimacing:

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No apologies necessary @Al_Wallace. You shared something that I hadn’t thought of.

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AI development can take so many different paths in the future, that it’s risky to have a hard-set opinion beyond a 10-20 year span. :exploding_head:

That said, I agree with you that a lot of roles will inevitably be fulfilled by AI, in fields like manufacturing, transportation, or analytics & computing. Especially in manufacturing, AI displacement is a thing of the past now.

But I also believe that AI is such a disruptive force, that in many cases it will also be a market-generating force. As long as AI doesn’t completely take over :robot:, I think that jobs related to new AI integrations will emerge if humans remain masters & commanders behind AI.

Industrial manufacturing comes to mind… 500 years ago, all the jobs from which humans have mostly been displaced from, didn’t even exist. Who knows what future “jobs” will look like, because labour is something that evolves hand-in-hand with technological progress. That’s why I believe there will always be a need for human labour.

Worst case scenario we become slave-labour supply for AI masters?? :rofl: :rofl:

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I hope I am not posting about something that already has been mentioned on pynk.
But have you guys heard about Prof. Sugata Mitra? and his “Hole in the Wall” experiments?


Ted Talk link here
Human ability to learn is jaw dropping, so I am not worried too much about ability to learn, I am really worried that we are moving away from social structure (close living communities of 100 - 200 related people of different generations) that foster our ability to adapt and adjust.

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These go hand in hand. I guess it depends on percentage of lower population compared to less jobs?

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Saw this, unbelievably it’s thought China may have half the population it currently has in about a century. :exploding_head:

The worry about jobs being taken up by technology has been stressed over since the industrial revolution. Jobs will be supplanted, people will find different avenues to earn. It’s what we’ve always done, adapt and thrive.

On an air of optimism (not easy in these times :woozy_face:), there’s always the possibility of A.I contributing to humanities journey to a new enlightenment. Hear me out …:rofl:

When there’s a mass of people not having to face the grind stone 6 days a week because A.I has taken away the need for industry to use people to profit from, and some form of UBI is installed to persuade the citizens not to lynch the elites, then maybe, just maybe people would be time rich enough to pursue the arts or discover some new theorem or medicine to enrich all of us. But, then again… maybe not :roll_eyes:

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