Author Tero Ojanperä
Below Tero Ojanperä summarizes the insights from the presentations in the AI Revolution - Implications to Business and Society seminar. Big thank you for the presenters. The presentations can be found at the bottom of the page.
Large Language Models (LLMs) create a new power dynamic within the tech ecosystem. New breakthroughs are reshaping applications and forging novel ways of engagement and product development across various sectors.
Specialized AI models trained on proprietary data create a 'moat' — a defensible position against competitors. From medical co-pilots that aid in healthcare to legal co-pilots that streamline legal processes and from the automatic generation of architectural plans to the creation of new bioproducts and materials, the influence of LLMs is expansive.
As AI's capabilities expand, so does the imperative for its responsible use. Emphasizing innovation with integrity, the conversation shifts to the importance of responsibility, transparency, and fairness in developing AI technologies. Because AI systems are often a "black box," there are ethical considerations regarding the data they're trained on and their propensity to generate misleading outputs. Thus, we must balance the pursuit of innovation with a commitment to ethical practices and creating effective and trustworthy AI.
Alexander Stubb highlighted the complex dynamics between society and the rapidly advancing domain of generative AI. He outlined three prevailing attitudes towards AI's trajectory: the unguarded 'Tech Optimism' advocating unrestrained progress, the cautious' Tech Pessimism' now less prevalent, and a 'Balanced Approach' that champions regulated growth supported by solid infrastructures. This dialogue is crucial in the face of rapid tech evolution, necessitating globally accepted regulations.
AI has a big impact on society, changing the economy and the jobs creating new opportunities and challenges, such as the risk of having a 'useless class' of people who can't work. AI also affects politics and our freedom of thought, making technology not neutral. Moreover, AI can combine with biology and change what it means to be human.
In response to these pivotal changes, Stubb advocates for a universal agreement on AI governance, a concept parallel to a human rights charter, necessitating immediate and ongoing action. His vision, through a European perspective, calls for smart regulations and investments in research and innovation.
Kimmo Alkio, CEO of Tietoevry, highlighted the necessity of understanding AI's trajectory, engaging with it actively, and scaling capabilities to accelerate outcomes. He underscored the importance of recognizing one's role in the AI landscape, stressing different strategies for creators and users of technology.
For creators in the early stages of AI, where there is no definitive market leader, the focus should be innovation and investment. As the market evolves and leaders become apparent, creators should concentrate on building and expanding their scale.
For technology users, it's essential to start by understanding and engaging with AI through proof-of-concept projects. As the technology matures, users should strategically choose the right technologies and platforms, scale their capabilities, and accelerate outcomes to benefit their customers.
Kaisa Salakka, Vice President of Product at Wolt, emphasized the increased accessibility of AI, enabling widespread utilization in everyday life. Product teams are swiftly embracing new generative AI tools, leading to more rapid development, localization, and customization of products.
Salakka also reaffirmed that traditional principles of competitive advantage remain relevant—start with user value rather than technology, plan for investments with a clear path to business success, and acknowledge that tech giants are swiftly integrating Generative AI into existing solutions. At the same time, new products are increasingly built around AI technology from inception.
However, the rise of GeNAI also introduces risks and challenges. The exponential growth of content generation brings into question the value of content and trust issues, alongside the difficulty of navigating the sheer volume of it. Moreover, substantial investments are required to run generative AI models, potentially shifting the role of large platforms and opening opportunities for market disruption.
Merja Ylä-Anttila, CEO of YLE, underscored a key tenet in the intersection of AI and creative industries: a human is always ultimately responsible. She highlighted the practical application of this principle with an example from Yle Areena, where a Netflix-style algorithm was employed to enhance user engagement. The data-driven approach underscores not only the potential for AI to amplify content reach and engagement in various creative domains but also the imperative for human oversight and accountability in the deployment of such technologies.
In a forward-looking presentation titled "Future of AI," Professor Samuel Kaski discussed the expansive role of machine learning in various fields and the collaboration between domain experts and machine learning tools.
Exciting is the proposition that integrating AI into the R&D process could revolutionize product development. By running AI-driven virtual experiments at a scale vastly greater and faster than traditional methods, researchers can quickly identify promising leads. These virtual results can then be selectively translated into physical experiments, ensuring that only the most promising ideas are developed tangibly. This hybrid approach promises a rapid and cost-effective pathway to achieving desired outcomes, blending the best of virtual and physical experimentation.
The Q&A blog covers the numerous seminar questions and comments that we received on Presemo during the event. We used AI to organize them and then had the AI answer them. Check out how well it did and feel free to comment!
The event was organized by the Department of Industrial Engineering and Management and supported by Aalto Networking Platform. Our mission at the Department is to help create and transform technology-based business. Understanding the impact of AI and other digital technologies to business and the associated organization and leadership challenges is at the core of what we do. If you are interested in hearing about opportunities for collaborating on these topics, please be in touch.
Photographer: Marko Vaahtera, markovaahtera.fi
We stand on the brink of an AI revolution. Today's AI models are crafting text, code, images, music, videos, and even 3D models in manners previously deemed impossible for machines. As the digital horizon expands, it's crucial that we evolve alongside it.
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