AI Firms Need to Address Business Leaders’ Concerns: Expert

TechnoparkToday(June, 2024): Companies specializing in Artificial Intelligence (AI) must prioritize addressing the concerns of business leaders, who believe that decisions made by Generative AI lack sufficient explainability and trustworthiness, stated Mr. Srinivasan Muthuswamy, Senior Technical Staff Member (STSM) at IBM India Software Labs.

“Business leaders face challenges in scaling AI across the enterprise with trust. They are concerned about the safety and ethical aspects of Gen AI,” said Mr. Muthuswamy during his lecture on ‘Unleashing the Power of Generative AI: Transforming Ideas into Innovation’. The talk, part of a ‘Tech Talk’ series organized by the State Government in collaboration with IBM, took place at Technopark, Thiruvananthapuram today. This event is a precursor to the two-day international Gen AI conclave scheduled in Kochi on July 11 and 12.

Ms. Sreedevi S, Assistant Manager, Investment and Promotion at Kerala State Industrial Development Corporation Ltd (KSIDC), Mr. Vasanth Varada, AGM – Customer Relationship at Technopark Trivandrum, and Renjith Ramachandran representing Technoparktoday were also in attendance

Mr. Muthuswamy emphasized that business leaders are wary of Gen AI’s potential to propagate established biases and its lack of trust. He urged AI firms to innovate in these areas, highlighting the opportunities available.

He also elaborated on the benefits of Gen AI at IBM, noting that it delivers around 40 percent performance improvement for highly skilled workers compared to those who do not use Gen AI. Additionally, it enhances conversational access to employee support and customer care services.

However, Mr. Muthuswamy identified several barriers preventing organizations from fully benefiting from AI, including integration and scaling challenges, AI governance, data complexity, high costs, limited skills and expertise, and a lack of AI model development tools.

Mr. Muthuswamy’s next Tech Talk session is scheduled at Infopark, Kochi, on June 20 at 3 p.m., followed by a session at Cyber Park, Kozhikode, on June 21 at 11 a.m.

The Gen AI Conclave, to be held at Lulu Grand Hyatt Bolgatty International Convention Center, will gather industry leaders, policymakers, and innovators to explore AI’s transformative potential and societal and economic impacts. The event marks a significant milestone in advancing AI in Kerala and India, featuring keynote addresses, panel discussions, interactive sessions, and a Developer “Playground” showcasing the latest AI advancements.

Esteemed guests, including the Hon’ble Chief Minister, Hon’ble Ministers, IBM leadership teams, industry thought leaders, Indian tech business leaders, and special guests, will share their expertise and vision for AI’s future.

For more information and to register for the International Gen AI Conclave, visit : https://www.ibm.com/in-en/events/gen-ai-conclave