September 12, 2023
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Regulation
8 More Companies Pledge to Make A.I. Safe, White House Says
New York Times, 09/12/23. Eight more companies, including Adobe, IBM, Palantir, Nvidia, and Salesforce, have committed to voluntary standards for safety, security, and trust in artificial intelligence (AI) technology, according to the White House. These companies join the likes of Amazon, Google, Microsoft, and OpenAI in this industry-led effort. The move comes as lawmakers and regulators grapple with the implications of AI, such as job displacement and misinformation. While some critics argue for greater involvement of civil society groups in AI regulation discussions, the White House emphasizes the need to harness AI’s benefits, manage risks, and act swiftly in partnership with the private sector. READ THE ARTICLE
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Limitations
7 dark secrets of generative AI
CIO, 09/12/23. The use of AI algorithms, specifically generative AIs, has gained popularity in handling various tasks, from high school homework assignments to college admissions essays. However, customization is crucial for businesses, and basic AI models require extensive training and fine-tuning. Challenges arise when assembling training data due to copyright issues and privacy concerns. API differences and the complexity of prompt structures make switching AIs challenging. Furthermore, the intelligence of generative AIs remains shallow compared to human understanding. CIOs and tech leadership teams face the task of harnessing generative AIs’ potential while navigating intellectual obstacles. READ THE ARTICLE
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Strategy
Leading AI Is Still Leading
MIT Sloan Management Review, 09/12/23. In a rapidly evolving technological landscape, business leaders must remain attentive to the advancements in artificial intelligence (AI) and automation. While generative AI has garnered significant attention, leaders must also focus on other areas of AI, machine learning, and automation. This requires applying leadership skills to navigate challenges and take advantage of opportunities. For instance, the automation of procurement negotiations can benefit organizations, but stakeholders must be involved in the process. Additionally, leaders must explore strategies to overcome the scale disadvantage in smaller organizations using federated machine learning. Furthermore, empowering employees to automate mundane tasks through citizen automation programs requires careful planning and support. Ultimately, business leaders must balance the potential of AI and automation with the well-being of their employees and stakeholders. READ THE ARTICLE
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OpenAI
ChatGPT’s Users Fell for the First Time Ever — Should AI Investors Be Concerned?
The Motley Fool, 09/12/23. ChatGPT, the popular AI-based chatbot, experienced a decline in monthly traffic for the first time in June and July. SimilarWeb suggests that the drop may be related to college students taking a break during the summer. This decline raises questions about the actual adoption of AI and its transformative potential. Other tech leaders, like Salesforce and Alphabet, have also talked up the potential of AI, but their revenue growth suggests a negligible impact so far. It is important for AI investors to be cautious of high valuations as the winners in the sector may take time to emerge. READ THE ARTICLE
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Strategy
CFOs are still cautious about generative A.I. and only 15% are incorporating it into corporate strategy
Fortune, 09/12/23. The CFO Signals survey conducted by Deloitte reveals that CFOs are cautiously approaching the adoption of generative A.I. While nearly half of CFOs are experimenting with the technology, only 15% are incorporating it into their corporate strategy. Concerns include the impact on risk and internal controls, data structure and technology needs, and ethical and governance issues. CFOs believe that GenAI can reduce costs, improve customer experience, and increase margins and productivity. However, many CFOs feel that they lack the necessary data, technology, and talent to implement GenAI effectively. READ THE ARTICLE