Archive for the ‘Artificial Intelligence’ Category

What’s the transformative potential of artificial intelligence? – University of Illinois Urbana-Champaign

Robert Brunner is the associate dean for innovation and chief disruption officer at the Gies College of Business at the University of Illinois Urbana-Champaign. Brunner spoke with News Bureau business and law editor Phil Ciciora about the transformative potential of artificial intelligence technology such as ChatGPT.

Theres been a lot of hype about artificial intelligence technology and its potential to change every industry and every job in the global economy. What should we know about AI and its potential?

This is a difficult question to answer because if youre too bullish, youre accused of being a techno-optimist or apologist whos downplaying whats perceived by some as one of the greatest threats to society, perhaps in our history. Or if youre too bearish, youre a doom and gloom naysayer a Chicken Little running around saying The sky is falling!

I think the real concern isnt ChatGPT, Bard or what are more generally called generative artificial intelligence tools. Its the pace from which we went from something like Siri, Apples virtual assistant technology that is often comically wrong or doesnt do what you want it to do half the time, to a level of sophistication thats almost unimaginable outside of the realm of science fiction.

Thats disconcerting to a lot of people, particularly those whose jobs might be most negatively impacted by AI. A plumber, for example, is unlikely to see much benefit or harm from generative AI. But theres a lot of anxiety among knowledge workers, who may fear that theyre going to be replaced by AI.

I do think some work will be replaced by generative AI, but that doesnt mean there will be mass layoffs anytime soon. My guess is that if theres a natural attrition rate of, say, 10% at a company, those workers just wont be replaced.

And the reason why is that there will be an expectation that workers will be more productive because theyll be able to leverage AI, which will act as a force multiplier. If you were able to produce five widgets in a week, AI may help you produce 10 or more.

But the fact that this has happened so fast is whats most unnerving. When change happens this fast, people need time to process and adapt and I dont think most people feel like theyve had a chance to do that. It just burst onto the scene in terms of public consciousness, so its natural to go to the doom and gloom scenario, which is partly due to Hollywood and popular culture.

If you understand the underlying technology behind generative AI and how it works, its not magic. We tend to anthropomorphize technology, and, for some, the knee-jerk reaction is to think this is like the HAL 9000, so it wants to kill us.

My gut feeling is that, right now, its not as dangerous as people think or fear. The net effect overall could be that well see increased opportunities or better productivity in a number of different jobs. Its possible that workers will be encouraged to automate the parts of their job that they like the least. If you dislike taking and transcribing meeting notes, for example, you can let AI take care of it. Well all be getting this personal digital assistant that will be very helpful to us.

So its entirely possible that theres going to be tremendous new job opportunities that we dont even know about yet, because the technology is just so new.

Do you foresee technology such as ChatGPT continuously evolving?

Were on the fourth version of ChatGPT, but were not getting version five anytime soon. The current version is the one well have for the foreseeable future, meaning that weve reached its limits for now. What well likely see next are applications of this fundamental technology to different areas or fields, which is very exciting.

Do we need to pause development on generative AI, as some notable tech luminaries have advocated for?

There are some legitimate things to think about in terms of pausing development. Could we pause and then ensure that the AI models are fair and equitable to all groups, that there are not going to be accentuated biases?

That would be nice, but I would say the toothpaste is already out of the tube. It would be wholly impractical right now to pause development. Its out there and its not coming back. Also, we dont want to give any unfriendly countries or their militaries a six-month head start on development.

But that doesnt mean we shouldnt think about any potential downside effects. Theres going to need to be regulations and thoughtful discussions around how we want this technology to be rolled out and used. For example, should children be allowed to use generative AI? Should high school students?

Hopefully, we dont follow past models and wait for the tech companies to go out and do questionable things before we realize we need to regulate it. We have to start thinking about such guardrails right now because the genie is out of the bottle and we want to make sure that the genie is a force for good. We have to be careful that were not creating a future society that accentuates existing inequalities and biases.

What other potential pitfalls await with AI?

Heading into the 2024 presidential election cycle, the potential for deepfakes is very concerning. But the only remedy we have right now is that we have to be thinking and talking about this issue. How do we want AI to benefit society? How do we want it to help us become better?

We have lots of problems, but we also have an ability to try to work through them and get to a better place. I have a feeling that well hit some issues with AI but ultimately well struggle through.

Which is good because, at this point, its hard to imagine a future in which generative AI is not an everyday, commonplace tool in your personal and professional life. Even if youre uneasy about this technology you should at least be aware of its transformative potential. Historically speaking, things dont tend to end well for Luddites.

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What's the transformative potential of artificial intelligence? - University of Illinois Urbana-Champaign

Ramp to introduce AI tools for tracking business costs – Reuters

May 18 - Ramp, a developer of financial management software, said it plans to offer new artificial intelligence tools from Thursday, including a feature that can determine if a company is overpaying on its software contracts.

The New York-based startup, which offers a corporate card platform used by over 15,000 businesses, has raised $1.4 billion from a slew of investors since it was founded in 2019. These include Microsoft Corp (MSFT.O) CEO Satya Nadella, Goldman Sachs (GS.N), Redpoint Ventures and Thrive Capital.

With the introduction of new AI features, corporate finance teams will have improved oversight, Ramp CEO Eric Glyman told Reuters.

For instance, companies will be able to better detect unusual employee spending in real time, said Ramp investor Logan Bartlett of Redpoint Ventures.

The new features also include an accounting co-pilot that makes doing manual tasks much faster.

Generative AI has the ability to synthesize large amounts of data and interact using humanlike language. Ramp partnered with OpenAI, the AI behind the chatbot sensation ChatGPT, to build the AI enhancements.

Reporting by Anna Tong in San Francisco; Editing by Edwina Gibbs

Our Standards: The Thomson Reuters Trust Principles.

Thomson Reuters

Anna Tong is a correspondent for Reuters based in San Francisco, where she reports on the technology industry. She joined Reuters in 2023 after working at the San Francisco Standard as a data editor. Tong previously worked at technology startups as a product manager and at Google where she worked in user insights and helped run a call center. Tong graduated from Harvard University.Contact:4152373211

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Ramp to introduce AI tools for tracking business costs - Reuters

Artificial Intelligence is Paving the Way for Intelligent Automation – BBN Times

Artificial Intelligence (AI) is reshaping the world we live in, driving advancements and transforming industries.

With its ability to simulate human intelligence, AI is revolutionizing automation by enabling machines to perform tasks that typically require human intelligence. Artificial Intelligence is paving the way for intelligent automation, transforming industries and revolutionizing the way we work and live.

There are 3 types of artificial intelligence:

From streamlining business processes and enhancing customer experiences to driving innovation and revolutionizing healthcare, AI has immense potential to reshape various sectors. As organizations embrace AI-powered technologies, they can unlock new opportunities, improve efficiency, and deliver superior experiences, ultimately driving success in the age of intelligent automation.

In this article, we delve into the potential of AI and its impact on intelligent automation across different sectors.

Artificial intelligence is streamlining business processes by automating repetitive and time-consuming tasks. Intelligent automation systems powered by AI can handle data entry, document processing, and customer support, freeing up human resources to focus on more complex and strategic activities. This not only improves efficiency but also reduces operational costs and enhances overall productivity.

The use of artificial intelligence is improving customer experiences through personalized interactions and advanced analytics. Chatbots and virtual assistants powered by AI can provide instant and accurate responses to customer queries, improving customer satisfaction and engagement. AI algorithms can also analyze customer data to gain insights into preferences, behavior patterns, and buying habits, enabling businesses to deliver tailored experiences and targeted marketing campaigns.

In addition to enhancing customer experiences,artificial intelligence is driving innovation by augmenting human intelligence and assisting in decision-making processes.

Machine learning algorithms can analyze vast amounts of data, identify trends, and make predictions, helping businesses make informed decisions and uncover new opportunities. AI-powered systems can also generate insights and recommendations, enabling organizations to stay ahead of the competition and drive growth.

Artificial intelligence is taking the healthcare industry to another level by improving diagnostics, treatment planning, and patient care. AI algorithms can analyze medical images, detect anomalies, and assist in disease diagnosis. Intelligent systems can also leverage patient data to personalize treatment plans and predict outcomes. AI-driven technologies have the potential to enhance healthcare delivery, reduce errors, and improve patient outcomes.

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Artificial Intelligence is Paving the Way for Intelligent Automation - BBN Times

BT will cut 10,000 jobs in shift to artificial intelligence – Daily Mail

By Calum Muirhead, Senior City Reporter For The Daily Mail 11:43 18 May 2023, updated 12:19 18 May 2023

BT is to slash up to 55,000 jobs by the end of the decade, with around 10,000 set to be replaced by artificial intelligence (AI).

Amid growing concerns about the impact of robots on the job market, boss Philip Jansen said the telecoms giant would be a 'huge beneficiary' of the technology.

He added: 'I do personally believe this is a huge leap forward in technology terms.'

While he acknowledged AI presented risks and companies needed to be 'careful', Mr Jansen said it was 'going to be as big as the internet and mobile phones' and would help create jobs.

'There will be loads of new services, applications, innovations and products that will emerge from this AI. BT will be able to participate in that,' he said.

But he stressed this would not mean machines will replace humans entirely, adding: 'We won't be in a situation where people feel like they're dealing with robots.'

The comments came days after Steve Hare, boss of accounting software firm Sage, said embracing AI could help 'turbocharge' productivity in the UK.

Speculation about the impact of AI on the workforce has swirled following the rise of software such as ChatGPT,which can create text and answer questions in a human-like fashion.

Other types of AI can be used to create images and videos simply from a text description.

The rapid development of the technology has been hailed by many businesses and tech leaders as a way to free human staff from low-skilled work so they can focus on more complicated tasks in a boost to the global economy.

But others have cautioned about the impact of machines on the labour market.

In March, analysts at investment bank Goldman Sachs predicted 300 million jobs could be lost or replaced by AI worldwide, particularly in areas such as administration, legal services, architecture and engineering.

Others have warned that AI's ability to create artificial images and text will make it easier for misinformation to spread.

Of particular concern are 'deepfakes', images or videos that use AI to replace the face of one person with another to create hoaxes.

Even bosses at some of the world's largest tech companies have expressed fear over the potential of AI.

Last month Google boss Sundar Pichai said the technology 'can be very harmful if deployed wrongly' and admitted the potential dangers 'keep me up at night.'

In March, Italy became the first Western country to ban ChatGPT as its regulators investigated the software's collection of user information.

The UK Government, by contrast, has said it would adopt a 'light touch' approach to regulating the technology, with Technology Secretary Michelle Donelan saying any legislation introduced now could quickly become 'out of date.'

BT's embracing of AI came as the firm outlined plans to reduce its workforce from 130,000 to between 75,000 and 90,000 by 2030.

Mr Jansen estimated around 15,000 job losses would be from staff and contractors building the company's fibre broadband internet network.

Another 10,000 reductions would be made from upgrading and turning off older networks and system meaning fewer workers would be needed for maintenance and repairs.

Elsewhere, 10,000 jobs would be cut through increased 'automation and digitisation' of the firm's customer service and other operations and 5,000 roles would be eliminated through 'normal restructuring' of the business.

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BT will cut 10,000 jobs in shift to artificial intelligence - Daily Mail

Couple uses artificial intelligence to redesign backyard: AI is truly gonna take over so many jobs – Yahoo News

Internet users have a world of possibilities in front of them now that Chat GPT has stepped into the mainstream. People have used it to do assignments, create meal plans and even run their businesses.

Now, TikTokers are using artificial intelligence (AI) to power their creativity when it comes to interior design.

Paulina Machaj (@itspaulinamac) posted a video of her using Roomgpt.io to springboard her outdoor renovation.

Revamping our courtyard with the help of AI, Machaj wrote in her post.

With the website, users input a theme theyd like to see and what kind of room the space is before uploading a picture of their current space. Then, roomgpt.io puts the AI-generated room side-by-side with the original space.

Using AI to redesign a room is a popular trend on TikTok, with the hashtag #roomgpt accredited with over 4.5 million views. Of the 1.9 million viewers of Machajs video, there were mixed reviews of the website.

Ummm, no. I thought it would suggest new furniture, wall decorations maybe some plants, said @babyk.87.

Yeah I need this when I move, replied @theblvkswan.

Roomgpt.io also allows users to gain inspiration from its interior design page, which gives a list of potential rooms to choose from and a long list of design styles.

This technology is a step further than the augmented reality software many shopping sites have.

Augmented reality overlays 3D art, while AI can only simulate consciousness by performing the data it analyzes, according to narasoft.com.

Those sites allow customers to view how the individual item would look in a room, however, it does not remake the entire space like roomgpt.io.

AI is truly gonna take over so many jobs, said @knot_typical under the video.

With a website that helps users unlock the full potential of their space, the opportunities created by AI continue to expand.

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Couple uses artificial intelligence to redesign backyard: AI is truly gonna take over so many jobs - Yahoo News