Published on October 30, 2023, 3:16 pm
The recent Constellation Research Connected Enterprise event held in Half Moon Bay, California showcased various technological advancements and social changes. However, it was generative AI that stole the show. Despite my initial skepticism, I discovered that generative AI is indeed a game-changer according to industry professionals.
In fact, one seasoned executive from a global systems integrator went as far as stating that generative AI will be bigger than cloud computing and on par with or even surpass the Internet in terms of impact. This sentiment was echoed by many presenters and attendees who believe that generative AI is already delivering significant business advantages.
Dion Hinchcliffe, a VP and research analyst at Constellation Research, emphasized the demand for Chief Digital Officers (CDOs) and Chief Information Officers (CIOs) to integrate AI closely into their business strategies. Generative AI offers a competitive advantage for organizations, and ChatGPT was highlighted as a groundbreaking development in this field.
While many organizations are implementing generative AI solutions today, they may not openly admit it due to concerns about losing their competitive edge. The true value of generative AI lies not in simply adding it onto existing platforms but in rethinking organizational business models. This technology has the potential to transform businesses and facilitate innovation.
Sanjib Sahoo, EVP and CDO of Ingram Micro, pointed out that 77% of devices already utilize some form of AI. Generative AI enables organizations to enhance customer experiences by empowering them with content generation capabilities. It also promises to revolutionize work processes and increase productivity by supercharging human talent.
The conference emphasized that generative AI will not merely replace jobs but transform them entirely. To fully leverage its potential, organizations need to prioritize experiences over automation. While automation can improve efficiency and reduce costs, the focus should be on how generative AI can fundamentally change business models. This shift may require organizations to adopt a venture capitalist mindset and envision exponential improvements.
Speakers also acknowledged the risks associated with generative AI. Data quality and ethical concerns were highlighted, as well as potential impacts on human interactions and cognitive abilities. Additionally, misinformation and privacy issues were recognized as challenges that require careful consideration and mitigation strategies.
Futurists Byron Reese, CEO of JJ Kent, and Richie Etwaru, Chief Creative Officer of Mobeus, attempted to address some audience concerns about the risks of generative AI. Reese argued that synthetic intelligence is fundamentally different from organic intelligence and not yet fully realized. Etwaru emphasized the need for clarity regarding the workings of AI, focusing on explaining its functionality. They both expressed a belief in a future where humans coexist harmoniously with machines.
Generative AI is undeniably transformative technology, bringing both immense opportunities and risks. Careful oversight is crucial, especially in sensitive areas such as nuclear capabilities. Moreover, it is essential to consider the impact on skills and talent development. Identifying necessary skills and preparing younger generations for this technological shift is vital.
The era of generative AI has arrived, requiring us to adapt our mindsets and embrace the possibilities it presents. It is up to organizations to leverage its power responsibly and ethically while constantly evolving alongside this transformative technology.