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AI Powered Business Reinvention | TED & PwC
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Brandon, I'm a half glass, full type of person,
but I am incredibly optimistic about the potential for society and for
business. With respect to Generative AI.
I can imagine robots freeing humans from working on an assembly line doing the
same thing for 30 years.
Teacher might read 10,000 essays over a 40 year career.
A machine can read millions of essays within minutes.
What are the decisions that you can make along the way?
Not knowing what the end point is going to be,
but it's going to be different and it's got to be different.
Generative AI has become a board level topic of discussion.
Look at AI as an ability to reinvent business.
So somehow a very small company with a handful of people created yet another
competitive frontier model.
It's every day.
So let's go a little bit deeper on that because it's such a common misconception
that Generative AI is a chatbot, but the reality is, well,
you could do a lot more.
AI has been around a long time, seven plus decades.
It actually covers a lot of techniques to do predictions or simulations
or to look at massive amounts of data and pull out insights.
Generative AI was different.
It was generating to then allow a machine to actually generate new
ideas based on what it's learned from all that training data.
Today we have reached a scale of computing and data sets
that was necessary to make machines smart.
Now they're powerful enough to really emulate kind of specialized human
thinking,
and then the computers take advantage of the fact that they can look at much
more data than people can.
Large language model is like having 25 PhDs standing behind
you and whispering in her ear.
Can you imagine the opportunity we have in front of us?
When people imagine AI,
they imagine AI as replacing things people do.
That was actually true when computers first came out too.
They imagined that somehow computers would take away all the jobs,
but in fact, what computers ended up doing is raising the bar.
I'm what we expected people to be able to produce.
Today,
there's a lot of people whose job is doing a relatively small thing in a
bigger value chain. Now, with Generative AI,
you can just automate something that before was very difficult to automate.
And what that means is that the millions of people who do that today,
their job is no longer needed.
What's clear is that there will be significant change.
What's less clear is what that change will look like.
If we think of the economy as a pie,
technological progress makes the pie bigger. The British pie, for instance,
is more than a hundred times the size it was 300 years ago,
and so people displaced from tasks in the old pie could find tasks to do in
the new pie. Instead, new industries are created, new tasks have to be done,
and that means often new roles have to be filled. We'll have solved one problem,
how to make the pie bigger, but replaced it with another.
How to make sure that everyone gets a slice.
We're in a point of transition as we were maybe in the industrial revolution or
back in the day of electricity coming online that we had decades to bring people
along and re-skill them, find new jobs,
and that human absorption was done over 20, 30, 40 years.
We're not seeing that timeframe here, so I think it's not about how we do it,
it's about how fast we do it.
Approaching AI solely as a cost cutting mechanism or the
replacement of the workforce. I think you're doomed to fail from the beginning.
Look at AI as the ability to evolve in a workforce's
skillset.
Generative AI should be in the hands of almost every worker in every
organization, and that involves change management, training,
communication, and showing people the opportunity they have in front of 'em.
What do you normally see as hurdles to driving adoption or getting people to
change?
Most people have built their entire careers without ever having to spell the
word AI.
So all of a sudden there's this thing to learn about and it's a lot for people
to absorb. Yeah. A lot of thinking and focus goes on where to start,
where to make no regrets moves, because this is still a moving technology.
So what things could I do right now that if I do them,
we're probably going to have some sustainable value that if the technology
changes, it's not going to be a dead end for me.
Information sharing right now I think is really critical.
Speaking to other organizations, working with industry bodies,
working with even your regulators to try and understand how others are exploring
this technology.
What I love about Generative AI is this isn't a hundred million
dollars 10 year project.
You can spin up a use case and drive an opportunity within a week.
You can get a hundred employees skilled up in Generative AI with eight to nine
hours of training.
If you want everybody to use a new tool and there's no incentive to do that,
then there's no reason to do that. In my experience with most companies,
there's a lot of hurdles to adopting new technology, a lot of risks.
What we want people to do is to explore, have fun with it,
because that's where you will seed those great ideas, those great innovations.
Think of everything as an experiment with a goal of creating a learning
organization so that you can have a culture that is adapting to what's
happening.
Ultimately, as business leaders who are investing in Generative AI,
there's this massive potential for improvement in business,
whether it's cost savings or speed or expanding your markets, things like that.
But what is expected of leaders of every company,
they have a responsibility to the employees.
I don't believe AI is going to replace a worker.
I believe a worker that understands AI may replace another worker,
and so that's why upskilling is key.
Upskilling is a very warm,
comfortable word because it means that someone is going to help us increase our
skills and adapt to a world where AI is working with us.
Organizations that struggle to grasp what AI is and
specifically what the Generative AI moment is,
really struggle to get out of a core set of fear because they don't know what
they're actually dealing with.
So education is really key at every level of the organization.
You also have to enable your leaders,
and the leaders of business today didn't grow up knowing AI.
They grew up because they were experts in supply chain or procurement or HR or
any of these things.
Helping them to understand its capabilities and to rethink their
team and their goals is very important.
The risk of people not exploring. If you don't do it,
other people will do it. So then as a business,
you get left behind by your competitors.
Because if you can work faster,
if the cost of introducing new products is cheaper,
if you can serve more people, you can create more value,
and that's an incredible potential for leaders who see it versus those who
don't.
And a lot of people will say,
I'm just going to sit on the sidelines and see who's left standing.
The problem is things are moving so fast. A year from now,
you're going to feel like you're 10 years behind. As a individual,
as a company, as a business executive, I encourage everybody,
get in the game.
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