Navigating the AI Revolution – Key Insights from Dr Stephanie Hare’s Outlook on AI
DigitX London Session Overview – Session by Dr Stephanie Hare, Technology Researcher, Broadcaster and Author. November 2023.
Dr Stephanie Hare, presented a comprehensive view of the current and future landscape of artificial intelligence (AI). Dr Stephanie Hare is a researcher, broadcaster and author.
Stephanie provided crucial insights, particularly focusing on how the developments in AI impact the field of event marketing. The session looked at opportunities, risks and regulation.
Opportunities
The session covered key trends in AI, as highlighted in the Stanford AI Index Report 2023. It notes a rise in AI-related job postings (1.7% in 2021 to 1.9% in 2022) and a shift in private investment in AI by 18 times compared to 2013.
Dr Stephanie Hare’s session pointed out that industries such as medical, healthcare, data management, and FinTech are leading in AI investments.
The United States and China were the front runners in AI private investment in 2022, with the U.S. leading in the number of newly funded AI companies.
The most commonly adopted AI use cases by function, including service operations, product development, marketing, sales, and risk management.
Source: Outlook on AI – Dr Stephanie Hare DigitX London Presentation
AI’s use in public services was also noted. Uses include NHS AI Lab, National Grid, HM Revenue and Customs and DVSA to name a few.
These cases demonstrate how AI is revolutionising public service delivery.
Risks
The presentation also addressed the environmental cost of AI, discussing its carbon and water footprints and the necessity for sustainable AI practices.
Dr Stephanie Hare called for transparent disclosure of AI’s environmental impacts.
“ChatGPT needs to ‘drink’ a 500 ml bottle of water for a simple conversation of ~ 20-50 questions and answers, depending on when and where ChatGPT is deployed.”
Regulation and Future Outlook of AI
Looking into the regulation of AI, Dr Stephanie Hare highlights various initiatives and potential legislation in different countries.
These include the EU AI Act and initiatives by the UK government, the AI Fringe events, global conferences and the ban of AI systems posing unacceptable risks.
Insights into the future outlook of AI emphasize the need for continued focus on ethical and sustainable development.
This session provided essential insights into how AI is shaping various industries and public services.
Understanding these trends is crucial for developing forward-thinking marketing strategies that leverage AI’s capabilities while being mindful of its ethical and environmental implications.
Dr Stephanie Hare underscored the transformative power of AI and the importance of staying informed and adaptable in this rapidly evolving field.
In her enlightening session, Dr. Stephanie Hare masterfully wove together the intricate tapestry of AI’s evolving landscape, offering a lucid perspective that underscores the necessity for businesses and individuals alike to embrace, adapt, and responsibly navigate the burgeoning AI revolution for a sustainable and ethically sound future.