Futurist and CEO of Fast Future Research, will deliver this year’s CommunicAsia2017 Summit
Visionary Address titled “Artificial Intelligence vs. Genuine Stupidity –
Navigating Exponential Technologies to Create a Very Human Future”, on
24 May at Marina Bay Sands, Singapore.
science and technology will drive large-scale change and transformation of
existing businesses and industries while also enabling the creation of entirely
new sectors”, says Talwar.
AI means that it is perhaps the most important area of decision making that business leaders
will face over the next few years, and the effective implementation of AI will
be a crucial differentiator between success and failure of firms in a fast
technology developments will help transform the US$78 trillion global economy.
Fast Future estimates that by 2025, the economy could grow to US$120 Trillion –
with over half coming from AI-enabled industries that either do not exist today
or are in their infancy, such as autonomous vehicles, self-replicating
machines, and adaptive, personal health management systems.
to accelerating change and prepare for a world that we can’t yet see but is
just around the corner,” adds Talwar. “We will see AI being used for product
design, pricing decisions, marketing strategies, training and recruitment. We
are already witnessing the emergence of entirely automated ‘employee-less’
AI-based decentralised autonomous organisations (DAOs).”
|Pic courtesy: Official Facebook page- CommunicAsia|
explores the key questions CEOs should be asking as they assess and invest in
AI’s transformative potential:
the fuss about?
most important changes in the philosophy, practice and management of business.
AI draws on and is combining with exponential developments in technologies such
as computer hardware, big data management, IoT and the fields of machine
learning, neural networks, and robotics. As a result, AI is beginning to
fulfill its true potential of transforming businesses and even replacing senior management and
leadership roles. CEOs have to make sure they are investing the time and
attention to understand what AI is, why so much is being invested, and where
the opportunities are.
to undertake internal analysis of where it could be deployed and what
competitors are doing. Medium to large enterprises in particular are bringing
in AI experts and creative future thinkers to take a broader perspective of the
potential roles AI could play, from smarter production management, to customer
targeting and broad-based decision making.
see this as just another IT project and hand responsibility to the CIO (Chief
Information Officer. However, some see it having a much broader role and are
making it the responsibility of the CEO, COO or business transformation head to
drive the identification, piloting and application of AI solutions across all
aspects of the business.
likely to be unsuccessful experiments – up to 90 per cent might go under as
promising ideas fail to yield viable solutions. The mantra should be to
“fail fast and cheap” – bringing in suppliers, customers and other
value chain partners early on to see if there is commercial merit in an idea.
There can be as much learning from a failed project as a successful one.
is a growing concern that if every firm replaces a large part of its human
workforce with smart software and robots, unemployment levels could rise on a
permanent basis. Estimates vary from 30 to 80 per cent of all current jobs that
could be automated out of existence in the next five to 20 years. As a CEO, how
should we address this and the potential criticism that we are creating a
two-tier society? Should we support the idea of a guaranteed basic income for
all, as is being explored by Canada, Finland and the Netherlands?
and specialist advisor on business transformation, disruptive strategies and
radical innovation, Talwar’s interests include the evolving role of technology
in business and society, emerging markets, the future of education,
sustainability and embedding foresight in organisations. He is also the founder
of Fast Future Publishing where he is putting these ideas into practice and
bringing exponential thinking to every aspect of publishing – including
profitability and revenue growth.
Future Research, at the CommunicAsia2017 Summit to find out how your organisation can leverage AI and
other disruptive technologies to secure a positive future for the connected