New Delhi, Aug 25 (UNI) Talking about the benefits and applications of Generative AI, Microsoft President and Vice Chairman Brad Smith on Friday said that it can be used almost anywhere that involves data.
“AI is an indispensable tool. You can take something like pancreatic cancer. It is difficult for doctors to detect it, but AI is already helping doctors detect it early,” he said while speaking at the B20 India summit being held here in the capital.
Smith said that in some ways Generative AI is more powerful in a country that speaks many languages because it is such a powerful tool that it can help people communicate across different languages.
The top Microsoft executive said that we should be excited about the opportunities of AI but at the same time be thoughtful about the downside, and construct guardrails from the outset, as industry, companies, governments and countries.
Michael Miebach, Chief Executive Officer, Mastercard, USA said that the immediate set of use case for Generative AI is improving efficiency and effectiveness.
“Generative AI can help small businesses automate the mundane task and enable the leaders to focus on the big picture,” he said.
Speaking about the regulation, he said that traditionally, the private sector needs to lead.
Noting that regulations are behind on AI, he advocated for self-regulation and underlined the key principles — privacy, security, transparency, accountability and integrity.
Arvind Krishna, Chairman and Chief Executive Officer, IBM, USA said that AI is expected to produce US$ 4.4 trillion annually by 2030.
Talking about the role of changing demographic, he said that since developing countries now have decreasing working age population, the deployment of technology is going to happen from the global south.
Krishna added that many jobs can be filled from the Global South remotely with the skills that are present, with little training.