AI tech can be crucial for human society at large, says power-packed panel at B20 Summit

One of the biggest technological breakthroughs for humanity, Artificial Intelligence (AI) has touched upon every sector of the society across the world. New avenues of artificial intelligence are being opened with generative AI, which are reshaping the economies in a transformational and innovative way. While this innovation is altering the world and is impacting society, many fear about job loss. A strong panel of the industry leaders leading the AI charge came together for a session on AI for Business and Societies at Opportunities for Artificial Intelligence are amazing says technology panel at B20 Summit India 2023 in New Delhi today, to discuss the opportunities and challenges ahead. Other than deliberating on the regulatory aspect of AI, they spoke about how exciting Artificial Intelligence is, its implications and how everyone should think about this technology. 

Arvind Krishna, Chairman and Chief Executive Officer, IBM, USA – the company behind the development of AI suite Watson believes one can increase their productivity by 2-4 per cent using artificial intelligence, which he says can be turned into free cash. He explains, the same can be turned to growth the companies or governments (economies of the nation). “We haven’t had anything like big this since semiconductors were invented.”

Brad Smith, President and Vice Chairman, Microsoft, is excited about the ability to use AI in one of Microsoft’s own product – like the Bing Chat. “Ultimately, I think success in life is not by having more answers, or by asking more questions. And when you can ask a question and get an answer faster, you find that you then ask that next question. That's how you really advanced curiosity,” he noted. Microsoft has a long-term partnership with OpenAI across AI supercomputing and research and enables each of us to independently commercialize the resulting advanced AI technologies.

N Chandrasekaran, Chair, B20 India and Executive Chairman, Tata Sons, captured his excitement in a quick simple line. He stated “I think the biggest impact you can make on society by solving the problems which are very, very hard.”

Stating the positive impact artificial intelligence can have on the humanity, Michael Miebach, Chief Executive Officer, Mastercard, opined: “We're facing tremendous issues across the globe, from climate change to many others. There's the unlock that we need. There is a tremendous opportunity coming out of Generative AI as an unlock for a path to prosperity for literally everyone.”

Moderating the session was Shantanu Narayen, Chair and Chief Executive Officer, Adobe who shared, “growing up in this country when you thought about what provided opportunity for everybody, it used to be reading, writing and arithmetic. I believe that digital literacy today is the great equalizer. It's the great enabler and AI is at the forefront of that and so embrace it. I think they are the issues that we will all have to, in a transparent ethical with integrity, deal with it. But I think the opportunities are tremendous.” 

It was a common sentiment by the leaders that artificial intelligence is for good and for every person who has the ability and access to AI right now, ca be more creative, productive and efficient.