AI NOW: The Background To Ibbcs Tech Forum Discussion On AI

(MENAFN- Iraq Business News) From the Iraq Britain Business Council (IBBC) :

The principals of AI are universally applicable to business and individuals alike, and some examples of how AI can impact various sectors is very illuminating.

AI is just a technology that is only meaningful if it is helpful to all, for example for farmers fighting pests better- using the right type and number of pesticides, to check the weather and microclimates, for communications departments researching and writing documents, and for companies streamlining their logistic and supply chains.

AI applications must be human centric and helpful. For corporates AI is driving growth and efficiencies and to future proof companies against competition and disruptions in the market or climate. It impacts topline costs while also driving resilience and competitiveness through product innovation by integrating and interrogating data sets for opportunities can overcome threats, speed up decision making through rapid scale data analysis and innovating through synthesising context, generating, and testing creative ideas for products.

Most corporations and governments are already using live AI to streamline operations to realise significant value through AI: 69% of companies are using data , 60% using AI to improve processes. 56% to service to clients (Googles stats).

AI is accelerating better decision making, whether in digital farming, or to run AI operations where people are used more as supervisors of a self-improving AI system, rather than as experts or practitioners within it ( e.g. in ICL group) .Bayer for example, are using deep learning with their tech researchers to drive 3x productivity which can either be fed back into more tech or go straight to the balance sheet. Bayer are also using AI for innovation and creating new products faster and for better customer experience, such as serving farmers and corporates via their phones and multi-modality (text, video, phones, online) with agronomic data, and gathering information directly from field via drones photography for e.g. use of herbicides and biomass info.

EY believe that AI is democratising access, decision making and information to people, that was previously the preserve of a few data scientists, but is now readily available to all businesses so they can optimise operations.

How can organizations get started?

Google say that it's likely that companies are sitting on data they don't know they have, so working with a partner to realise and use their data well is a first step ( i.e. creating information for generative AI ) to make it useable and visible. Once data is available it can be used in all areas of operations and will have impact everywhere, to create autonomous operations, new product and market opportunities, to reduce costs and increase productivity and expand offerings and transition staff to supervisory roles, which does require training and change management investment.

OCP say that fertilizer is now part of the global digital transformation system, using data to digitise operations. They operate digital supply chains to create new value chains from mining through to addressing agricultural markets and advising on better soils- which has had impact on all areas from HR to training and value bots and smart farming and direct relationships with small holders and SMEs. This has led to 5% increase in profitability through efficiency.

Google say that Using data with AI enables you to look at data differently and enable you to prioritise, grow and future proof better, and that the impact of AI/Tech is so important to organisations it should be owned by the CEO.

What risks are there in AI?

Human input and recording are inherently faulty and can replicate across data sets at scale - so be aware of data bias from geography, demographics and social parameters. Be aware of IP issues and know who owns what and how to protect data and outputs. Is it owned by the tech platform, the company, or individuals? ensure your data is protected and the end user and employees are trained to work well with AI - to empower them to make better decisions and outcomes.

Overall , AI should be a force for improvement, efficiency, productivity, innovation and profitability - to create better new relationships with end users putting power of information in their hands while providing feedback loops to companies, and ultimately confer greater market resilience to organisations. In terms of just the agriculture sector, we are on the cusp of a new green revolution through AI, supporting sustainable farming while increasing yields, feeding the world, using fewer natural areas and addressing aridification of climate regions. Replicating this innovation across all sectors and governments will create significant productivity enhancements for all. Now is the time to invest in AI or lose out to competitors.

Come join our discussion online via the IBBC Tech Forum on 1st July with Google and Microsoft here .

Ashley Goodall 11/06/24


Iraq Business News

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