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“How to make it pay” – AI discussion at Davos

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While the streets of Davos are adorned with vibrant banners extolling the promise of artificial intelligence, executives attending the World Economic Forum have expressed their struggles in translating early AI demonstrations into profitable ventures.

The emergence of OpenAI’s viral ChatGPT triggered a frenzy of venture investments and prompted significant shifts within the world’s largest technology companies since late 2022.

However, at this year’s WEF meeting in Davos, several CEOs have voiced their reservations about the current state of generative AI.

AI letdown

Matthew Prince, CEO of cloud and internet security company Cloudflare, suggested that the coming months might feel like an “AI letdown.”

He echoed the sentiment among business leaders that while creating impressive AI demonstrations is feasible, the challenge lies in realizing substantial economic value.

ChatGPT’s rapid ascent is somewhat of an anomaly.

Within the first two months since its launch in November 2022, the chatbot amassed an estimated 100 million users, making it one of the fastest-growing applications in history.

It allowed users to generate content, from poems to school essays, and served as a creative partner for non-business-critical ideas, according to Victor Riparbelli, CEO of AI video generation startup Synthesia.

Not prepared

However, Riparbelli noted that the enterprise sector is not yet fully prepared for chat-based AI. One concern is the absence of a clear strategy to mitigate “hallucinations,” or the generation of false content by AI.

Businesses are also grappling with the challenge of preventing AI chatbots from perpetuating human biases and complying with regulations.

China’s Premier Li Qiang, speaking at Davos, emphasized the importance of ensuring that AI serves the common good while being appropriately governed due to the associated risks to security and ethics.

China’s President Xi Jinping has called for the United Nations to play a central role in AI discussions, as confirmed by U.N. Secretary-General António Guterres.

A survey conducted by consultancy BCG revealed that approximately 90% of 1,400 C-suite executives are either waiting for generative AI to move beyond the recent hype or are conducting limited experiments and pilot programs.

 

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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NASA astronauts phone home, confident Boeing’s Starliner will return to Earth safely

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Stranded NASA astronauts express confidence in Boeing’s Starliner spacecraft, assuring its capability to safely transport them back to Earth from the International Space Station.

The astronauts, over a video call to NASA, highlighted Starliner’s enhanced safety features and testing protocols as reassuring factors for their safe return.

“I have a real good feeling in my heart that this spacecraft will bring us home, no problem…”, said Sunita “Suni” Williams, one of the stranded NASA astronauts.

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Paris Olympics insurers are worried over possible AI-driven cyber attacks

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Insurers are increasingly concerned about potential losses due to militant attacks and AI-driven cyber hacks during the upcoming Paris Olympics.

The upcoming global sports event poses significant financial risks for insurers, who fear substantial payouts in case of terrorist incidents or sophisticated cyber breaches.

Dr. Karen Sutherland from the UniSC join to share all the latest. #featured

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Renowned actor Nicolas Cage faces off against AI, expresses fear of digital duplicates

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Cage, now aged 60, highlighted worries about losing control over how his image might be used in future technologies.

During a interview with The New Yorker, The renowned actor, known for his diverse roles, including in “Face/Off” and “National Treasure,” revealed his concerns about the ethical implications of AI recreating his persona.

“They’re just going to steal my body and do whatever they want with it via digital AI. God, I hope not AI. I’m terrified of that. I’ve been very vocal about it.”

Tom Finnigan from Talkingbrands.ai joins to discuss. #featured

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