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Read previewSince the release of ChatGPT just over a year ago, it's become increasingly clear that the world will have to adapt as the influence of generative AI grows. And that's been borne out at this year's World Economic Forum in Davos, where AI has been a key topic. Business Insider spoke to industry leaders from companies including McKinsey, KPMG, IBM, and Coursera about the skills they believe will be important in the era of generative AI. Know how to optimize data for generative AI. "Being able to look at data, evaluate data, cleanse data, anonymize data — all that — is going to be even more important than historically it's been," Knopp said.
Persons: , it's, Katy George, George, Paul Knopp, Knopp, that's, Jeff Maggioncalda, Maggioncalda, John Granger, Granger Organizations: Service, Business, Economic, McKinsey, KPMG, IBM, KPMG US, IBM Consulting, Employees Locations: Davos, Maggioncalda
The criticality of trust is even clearer today as generative AI is changing the landscape of what's possible with AI. For example, generative AI models can produce highly believable, well-structured responses so it can be hard to identify an incorrect response without the right subject matter expertise. Generative AI does not have test-retest reliability, meaning you can ask the same question many times to an LLM and get different answers each time. Many business leaders are feeling pressure from investors, clients, employees, and others to accelerate their adoption of AI, including generative AI, but they're weighing the urgency to act against the potential risks. AI governance is how you define policies and establish accountability throughout the AI lifecycle.
Persons: That's Organizations: IBM Institute for Business, IBM, Trust, Transparency, IBM Consulting
But success in applying AI, whether based on the most advanced machine learning (ML) or the latest generative AI leveraging foundation models, is not just measured in speed. Whether based on ML or foundation models, the more customized your AI models are to those priorities, the better you will be able to serve your customers and deliver real business value. A hybrid cloud architecture provides the data foundation for extending AI deep into the business. If the models contain bias, or if AI models are misleading, "hallucinate," or are not explainable, the risk and cost of reputational damage and regulatory fines could be high. Three opportunities to put AI into actionHere are the best opportunities to derive benefit from AI in your business today:1.
Persons: IBM Watson, Carhartt, Let's Organizations: IBM Consulting, IBM, Dutch Bank ABN AMRO, IT, Insider Studios
Executives at the World Economic Forum told Insider issues like sustainability are a priority. But many companies are still looking for a place to start tackling problems like the climate crisis. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. The climate crisis, sustainability, and the energy transition were front of mind for many in Davos. Several of those who spoke with Insider highlighted the need for much-greater collaboration among companies — and a willingness to experiment.
Insider's Matt Turner and Cadie Thompson share their biggest takeaways from the World Economic Forum. More than 1,500 business leaders descended on Davos in the Swiss Alps last week for the World Economic Forum's annual meeting. The week of Davos, Alphabet published an explainer on its approach to AI signed by execs including CEO Sundar Pichai. "With every technology, there is good and then there's bad," Rima Qureshi, Verizon's chief strategy officer, told Insider. Several of those who spoke with Insider highlighted the need for much-greater collaboration among companies — and a willingness to experiment.
Organizations are fortunate today that technology tools such as advanced analytics and artificial intelligence (AI) are available to help them deliver enhanced customer experience. This notion of customer experience is the thing that creates competitive advantage for companies." Letting data be the guideCompanies in various industries could see benefits from investing in analytics to improve customer experience. Similarly, banks can work with IBM Consulting to improve customer experiences and build loyalty by improving the digital experience. Building better customer experiencesCandy says there are several best practices organizations should consider to help develop successful customer experience strategies utilizing data analytics and AI tools.
At the same time global supply chains face disruption from all sides, including geo-political uncertainty, supply challenges, inflation, and disruptions from extreme weather. To meet this change, innovative retailers and manufacturers are bringing fresh ideas, new technology, and data analytics and AI into their supply chains. The global pandemic accelerated the investment to modernize supply chains which are now digitized at an unprecedented rate. Analyzing this across all three scopes of a supply chain is a sizable data-gathering and processing exercise. Another change impacting global supply chains is the climate, from port disruptions to the need to reroute cargoes.
In this relationship, we use IBM's advanced analytics and AI capabilities to analyze the massive amount of data produced by fantasy football. The second reason is that ESPN Fantasy Football offers IBM a powerful platform to demonstrate our AI capabilities to 11 million people. Both Trade Analyzer and Player Insights are produced by transforming vast quantities of data into insights that inform decision-making. That's why we showcase the work of IBM Consulting through partnerships like the Masters, the US Open, and ESPN's Fantasy Football. Learn more about how IBM and ESPN are working together to bring data-driven insights to fantasy football.
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