Friday, January 14, 2022

g-f(2)815 The New World (1/14/2022), WEF, Artificial intelligence: What the C-suite needs to know


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"g-f" fishing of golden knowledge (GK) of the fabulous treasure of the digital ageThe New World, What the C-suite needs to know (12/14/2021)  g-f(2)426 


Lessons learned, WEF

EXCEPTIONAL “Full Pack Golden Knowledge Container”


AI: What the C-suite needs to know 


      • Investments in artificial intelligence (AI) have grown in recent years and discussions are now shifting from how to create business value with AI to how to do so in a responsible and ethical way. Given the potential of AI for value creation, disruption and destruction, it is imperative for executives to better understand and manage "the Art of the Possible and the risks of what is possible” with this technology.
      • A practical toolkit to successfully implement AI
        • AI has been in development for more than half a century. This is how long it takes for major technological innovations to reach critical mass in terms of adoption and real impact. It is only in the past few years that we have started seeing the potential of AI to transform businesses and society.
        • The World Economic Forum has developed the AI C-Suite toolkit to provide a map of questions the C-suite should consider as they guide their organizations in their responsible AI journey. 


                Genioux knowledge fact condensed as an image



                Arunima Sarkar


                Lead, Artificial Intelligence and Machine Learning, World Economic Forum

                Arunima is currently AI Lead, Centre for Fourth industrial Revolution, World Economic Forum. She leads the Co design of governance protocol and technology policy frameworks for artificial intelligence for maximum benefit to society and mitigating any unwanted outcomes, biases and risks. She is also leading the Quantum Computing Governance workstream and developing principles and frameworks for responsible innovation and use of the technology. Arunima has 20+ years of experience in research, corporate growth and strategy initiatives , technology policy with special focus on data, analytics and artificial intelligence . She is an expert member of the Global Partnership on AI(GPAI) working group on Responsible AI. She has led the Global Applied intelligence Research of Accenture and also worked in technology consulting and research roles in organizations like Gartner. Arunima has been leading several initiatives with multi-stakeholder communities around AI and ethics and operationalizing AI ethics guidelines across several sectoral use cases and applications.


                Theos Evgeniou


                Professor of Decision Sciences and Technology Management, INSEAD;, WEF Academic Partner on AI; co-founder, Tremau; external expert, BCG Henderson Institute

                Professor at INSEAD since 2001, working on Machine Learning and AI for the past 25 years, on areas ranging from AI innovations for business process optimization and improving decisions in Marketing and Finance, to AI and regulation, as well as on new Machine Learning methods. He has four degrees from MIT, two BSc degrees simultaneously, Computer Science and Mathematics, a Master and a PhD degree in Computer Science. His work has appeared in leading journals, such as in Science Magazine, Machine Learning, Nature Digital Medicine, Harvard Business Review magazine, and others. He is currently director of the INSEAD Executive Education program on “Transforming your Business with AI”. He is a member of the OECD Network of Experts on AI, an advisor for the BCG Henderson Institute, a World Economic Forum Academic Partner for Artificial Intelligence, and co-founder of Tremau a technology company for digital regulations.



                Extra-condensed knowledge



                Lessons learned, WEF

                A practical toolkit to successfully implement AI

                Golden Knowledge (GK) Juice


                  • Artificial intelligence (AI) is one of the most important technologies for business, the economy and society and a driving force behind the Fourth Industrial Revolution. C-suite executives need to understand its possibilities and risks. This requires a multifaceted approach and holistic grasp of AI, spanning technical, organizational, regulatory, societal and also philosophical aspects. This toolkit provides a one-stop place for corporate executives to identify and understand the multiple and complex issues that AI raises for their business and society. It provides a practical set of tools to help them comprehend AI’s impact on their roles, ask the right questions, identify the key trade-offs and make informed decisions on AI strategy, projects and implementations.


                Condensed knowledge




                Lessons learned, WEF

                Golden Knowledge (GK) Juice


                • The promises of AI
                  • Consider the strategic implications of AI, for example. Unlike other technologies, AI has the ability to automatically (or semi-automatically) make decisions, from what products to recommend to which customers; to how to prioritize customers or even patients in medical triage cases. This creates a fundamental shift in the cost base and scalability of businesses as AI can replace people-dependent, variable costs with the fixed costs of AI-enabled software.
                  • AI can take automation further than what was previously possible.
                  • Business metrics traditionally affected by technology can also be improved with AI, from KPIs related to customer satisfaction or engagement to process efficiency metrics or employee productivity.
                  • AI also has the potential to disrupt industries, as we can already see in industries such as automotive or insurance.
                • AI maturity and organizational readiness
                  • While the opportunities increase as the AI capabilities of organizations mature, the journey of an organization to AI maturity is not an easy one. Executives need to be able to assess their organization’s AI maturity and then understand the roadblocks to progress. They must consider the organizational and cultural changes that need to be made and those that will occur following the introduction of AI.
                • The potential AI risks organizations face
                  • This only covers half of the AI map for executives. The other half involves the new AI risks that organizations and society face. With power comes responsibility; this is true for AI. The ability of AI-enabled systems to make automatic decisions leads to a number of new risks, from privacy infringement to potential discrimination, for example, when similar customers are treated differently by AI; to new safety and security risks.


                Some relevant characteristics of this "genioux fact"

                • Category 2: The Big Picture of the Digital Age
                • [genioux fact deduced or extracted from WEF]
                • This is a “genioux fact fast solution.”
                • Tag Opportunities those travelling at high speed on GKPath
                • Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).
                • Type of validity of the "genioux fact". 

                  • Inherited from sources + Supported by the knowledge of one or more experts.


                References


                “genioux facts”: The online programme on MASTERING “THE BIG PICTURE OF THE DIGITAL AGE”, g-f(2)815, Fernando Machuca, January 14, 2022, blog.geniouxfacts.comgeniouxfacts.comGenioux.com Corporation.


                ABOUT THE AUTHORS


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                Key “genioux facts”


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