Unlocking the Potential of AI: Thriving in a Future of Innovation and Challenges
Published on: March 10, 2024
The rapid evolution of artificial intelligence (AI) requires a careful approach from experts, regulators, and business leaders to shape its direction responsibly. As AI continues to impact major industries and the global economy, it's crucial to address the inequalities it may generate.
Recently, 39 Young Global Leaders (YGLs) from 22 countries convened at the Hong Kong University of Science and Technology (HKUST) for an immersive education module. The event, part of the Fourth Industrial Revolution, focused on 'Our AI-Driven Future: Prospects and Pitfalls,' providing a comprehensive perspective on AI and fostering cultural exchange.
In a world grappling with geopolitical tensions, environmental crises, and economic challenges, collective action by leaders is imperative. The inaugural AI Education Module brought together a diverse group of young leaders, aiming to deepen their understanding of AI within various regional contexts.
Claire Tsui, Managing Director at Credit Suisse Hong Kong, emphasized that the future of AI as either a hope or horror depends on how its development is shaped. The intensive programme covered various aspects of AI, including economics, regulations, and business applications, encouraging meaningful dialogue among participants from different cultural backgrounds.
Kieron Boyle, CEO of the Impact Investing Institute, highlighted the extraordinary pace of change brought by AI, posing both opportunities and challenges. He pointed out the potential of AI in driving purpose-driven businesses and reshaping impact investments, while also acknowledging the imminent challenges in job displacement.
Geoffrey See, CEO and Co-Founder of Poko, shared his long-standing optimism about AI's benefits. His experience at a startup that used AI to credit score over 1 billion people in Asia provided him with unique insights. However, the WEF's YGL session at HKUST also broadened his perspective, highlighting the need for AI practitioners to address public concerns and skepticism.
The event underscored the importance of multi-dimensional perspectives in shaping AI's future. It's not just about technological advancements, but also about understanding their impact on society and finding ways to navigate the challenges and opportunities they present.