As with most human endeavors, probably a mix of both.
By Sally Percy – Thanks to the explosion of interest in ChatGPT, AI is probably the hottest topic in business today. There are a wealth of stories about the potentially transformative impact that AI – particularly generative AI – can have on different sectors. Theoretically, AI can take over a huge range of tasks previously undertaken by humans – from data entry, scheduling meetings and handling customer enquiries through to writing speeches, providing tax advice and investing in private equity funds. In fact, there seems very little that AI cannot actually do.
At the same time, however, AI presents some major risks to businesses. AI models are only as good as the data they’re trained on – so if that data is biased, inaccurate or incomplete, they will not produce reliable output. Even worse, they could exacerbate existing social inequalities. AI also presents significant copyright, cybersecurity and privacy risks. What’s more, given AI’s ability to take on human tasks, it poses an obvious threat to people’s jobs and livelihoods, which could have far-reaching ramifications.
Given the amount of positive and negative hyperbole associated with AI, it’s hard to know whether it’s fundamentally a goldmine or a minefield for leaders. So, where does the truth lie? Read On:
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