The World Wide Web launched in the public domain on April 30, 1993, a little over 30 years ago. It was a major technological leap forward for humanity. It was a game changer, full of possibility… and uncertainty.
Experts are reminding us a lot lately that artificial intelligence (AI) has also been around for many decades. Nevertheless, much like the Internet in the 1990s, ChatGPT becoming publicly available in November 2022 represents another paradigm shift for humanity and its relationship with technology. One billion ChatGPT web visits took place following its launch. According to PwC, AI is predicted to contribute $15.7 trillion to the global economy by 2030. Yes, the stakes are high. Yes, it’s a game changer. Yes, it’s full of possibility… and uncertainty.
Last month, the International Monetary Fund (IMF) released a study predicting that AI will affect close to 40 percent of all jobs. For some, it will be beneficial, boosting their productivity. For almost everyone else, their jobs are at risk. This report was published as business and political leaders from around the world prepared to gather in Davos, Switzerland, for the World Economic Forum, where AI took center stage. Highlighting the apprehension around this “disruptive” technology, the response from governments has been surprisingly swift. A number of countries signed a declaration on the safe development of the technology at an AI Safety Summit hosted by the UK late last year. And we’re seeing increased regulation around the world, including in the European Union, China, and the U.S., meaning in the world’s largest economies.
As businesses across all sectors explore AI’s potential, they must also wade through its unknowns and navigate evolving regulation. In other words, they must innovate and use AI responsibly.
Our guest today is Jon Iwata. He is an Executive Fellow at the Yale School of Management where he co-leads a program studying the leadership implications of stakeholder capitalism. He also directs the Data & Trust Alliance, a not-for-profit organization established in 2020 by CEOs of major companies including American Express, Johnson & Johnson, Nike, Pfizer, Starbucks, and Walmart. The Alliance develops and promotes the adoption of responsible data and AI practices. Among his various accolades and accomplishments, Mr. Iwata is also the co-inventor of a U.S. patent for a nanotechnology and process for atomic-scale semiconductors.
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