Kamala Harris and AI Regulation and other AI-news
Who Will Control AI’s Future?
In a recent Forbes article, Dr. Jamil El-Imad explored AI’s future. With AI evolving at breakneck speed, businesses face a crossroads of opportunity and risk. El-Imad, a Senior Research Fellow at Imperial College, underscored the pivotal role of strategic planning in guiding AI’s impact.
He believes that for AI to make a positive difference, companies need to focus on three key areas:
Business scope: Determine where AI can add meaningful value.
Distinctive competencies: Use AI to enhance core strengths like pricing strategies and customer service.
Business governance: Ensure AI operates within ethical and sustainable frameworks.
According to El-Imad, having a clear corporate strategy can ease uncertainties and speed up AI adoption. Aligning AI initiatives with corporate goals is essential. A defined AI policy that meshes with the overall business strategy helps set clear priorities, attract investment, and deliver concrete results.
El-Imad also highlights the importance of collaboration between business and IT leaders.
For more insights, read Dr. Jamil El-Imad's article on Forbes.
Business Leaders and Generative AI: The Learning Curve
Dr. John Richer at Oxford University parallels children learning to use new toys and business leaders handling rapid technological advancements. His study found that while children initially explore and then play with new toys, too many new toys can hinder proper learning. This mirrors how business leaders reacted to the launch of ChatGPT in 2022. Many saw its potential but were unsure how to utilize it effectively. They turned to consultancy firms like McKinsey and BCG, which led to significant revenue boosts for these firms. McKinsey reports that 40% of its revenue this year is AI-related.
The focus for 2024 is on creating measurable value with AI investments. Companies that over-invest in consulting may remain in the exploration phase, missing practical applications that generate value. Some fintech firms, like Klarna, are already using AI for automation, saving costs, and boosting efficiency. Effective integration involves starting with small, manageable projects and using easy-to-use tools. Early adopters can thus derive real value from AI.
Read more about this perspective in the original article.
Kamala Harris and AI Regulation
Vice President Kamala Harris has steered the US government’s efforts on AI for three years. She brought together tech leaders from OpenAI, Microsoft, Google, and Anthropic to set voluntary safety standards. Little legislation has been passed despite issuing a White House executive order on AI development and urging Congress to pass protective regulations. Harris stressed the need for balance in a speech, “We reject the false choice that suggests we can either protect the public or advance innovation. We can and we must do both.” As the presumptive Democratic nominee for president, her potential win could maintain minimal AI regulation, allowing continued industry influence over policy.
Harris’s track record includes strong stances against Big Tech during her tenure as San Francisco’s district attorney and California’s attorney general. Alondra Nelson, former White House Science and Technology Policy director noted her lawyerly and thoughtful approach to issues.
For more insights, read the full article from The New York Times.