Are we ready for AI? Recapping 2 AI Events

June 22, 2023

Opinion Piece

Originally published on LinkedIn here.

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Article by Jaques Barnard

Business Development Manager at Cleverbit Software

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I just got back from two thought-provoking tech events: “AI: Threat, Opportunity, or Both?” in Malta and Big Data & AI World Frankfurt with BARC. The main topic? The potential and pitfalls of Artificial Intelligence (AI) for businesses and the world

There’s a lot of talk around AI at the moment and for very good reason. It will change the way we work and live forever. But rather than getting caught up in all the future possibilities, here are some of the main talking points from these events that were trending.

Big Data & AI World event Frankfurt

One particularly exciting theme from the Big Data & AI World event was the transformative potential of advanced AI chatbots in the analytics space. Traditional dashboards might soon be replaced by these chatbots, making data analysis a more interactive, conversational experience which most people would find significantly less daunting, and more natural Rather than look for trends within data dashboards manually, a user can simply ask a chat-bot a direct question regarding the data, and get a human-sounding answer.

AI also holds immense potential for good. It can accelerate research, help in finding cures for diseases, and solve complex problems that were once thought unsolvable. It’s going to bring about a generational leap forward in how efficiently and effectively we find solutions to everyday challenges.

Times of Malta - AI: Threat, Opportunity, or Both

However, as we embrace AI, we must be mindful of the risks. Misused, AI can be dangerous, and the quality of the data used to train it is crucial - remember, rubbish in, rubbish out. Ensuring data privacy and eliminating bias from our data sets are paramount. In the race to be first, there are going to be countless companies that throw caution to the wind and ignore these best practices. It’s important for us, both as individuals and as businesses, to make sure we use AI tech partners that we can trust to handle data responsibly.

Recently, Sam Altman, CEO at OpenAI (ChatGPT), testified before US Congress, echoing these concerns and emphasising the need for regulation and control in the field. Malta’s government and MDIA have already made AI a priority, but this is a conversation we need to have on a global scale over a long period of time. It’s time to consider the real-world actions of people using AI, not just the potential of the technology itself.

Ethics in AI is a topic we can’t ignore. As automation progresses, we may soon face real-world ethical dilemmas that were once purely theoretical. We must educate people about AI and promote and regulate its responsible use.

AI promises a future full of opportunities, from novel job sectors to innovative services, but it also presents challenges, such as potential job obsolescence and the risk of misuse. The responsibility is on us to ensure a balanced development of AI, harnessing its benefits while mitigating its risks.

Let’s continue the conversation to ensure AI evolves in a manner that benefits everyone.

Founded in 2016 and headquartered in Malta, Cleverbit Software is a prominent custom software development company, employing over 70 skilled professionals across Europe. Specialising in custom software for business efficiency, we cater to a diverse international clientele, including sectors in Malta, Luxembourg, Denmark, the United States, and the United Kingdom. Our commitment to delivering tailored, industry-specific software solutions makes us a trusted partner in driving business innovation and efficiency.

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