The evolutionary prospects of AI: A Quick Look

“Half Life of Cloud Knowledge is 18 Months, whereas Half life of AI knowledge is less than 6 months”

In Amazon Web Services (AWS) Cloud Day, I had the privilege of attending a session on Generative AI and few content from this session caught my attention — Speaker was taking through the journey of Generative AI from a Google published paper “Attention is all you need” to today’s foundational large language models. Technology advancements are fast moving and the future is rapidly advancing with artificial intelligence, and its potential to revolutionize various industries is becoming increasingly clear.

From transforming the way businesses operate to enabling energy-efficient products and services, the possibilities are endless. However, with this potential comes a responsibility to ensure that AI is developed and used ethically and responsibly.

This article takes a quick look at some of the evolutionary prospects of AI that will transform industries and businesses rapidly.

Transforming Businesses with AI-nativity

AI-nativity in businesses, a term signifying the comprehensive integration of AI into products, services, and operations, is projected to overhaul entire industry landscapes in the near future. To harness the full potential of AI, businesses ought to reimagine processes and features that could profit from data-driven insights and automation. Concentrating on high-impact, safe, and feasible AI applications is critical, while keeping data access within organisation network boundaries. It is also important to create a ‘Financial AI’ (FinAI) capability that accurately forecasts the costs and returns of AI-driven initiatives.

AI Labs and Hackathons

Organizations can spur innovation by founding AI labs and organising AI hackathons. AI labs and hackathons provide a unique opportunity for organizations to drive innovation while promoting its safe and ethical development. AI Hackathons can be organized within organization to bring together teams of skilled professionals, such as developers and analysts, to work on AI projects in a limited timeframe. In next one year, focus should be on quickly building Generative AI capabilities in software development…