**The Importance of Responsible and Competitive Use of Generative A.I.**
**Panelists Discuss Success Stories and Risks of Generative A.I.**
During a special panel at Fortune Brainstorm Tech, executives and researchers from Mizuho Americas, AMD, flipando.ai, and Credo AI shared their insights on generative A.I. They emphasized the significance of using the technology responsibly and competitively.
Responsible A.I. as a Critical Component of Businesses
Navrina Singh, the founder and CEO of Credo AI, highlighted that responsible A.I. is not a luxury but a critical component of businesses. She shared an example of an insurance group that used Credo to create an impact report on preventing racial discrimination in life insurance policy offerings. The report not only increased customer retention but also attracted new customers.
Helping A.I.-Curious Companies “Walk, Not Run”
Maia Brenner, CEO and founder of flipando.ai, stressed the importance of guiding A.I.-curious companies to “walk, not run” when implementing generative A.I. Her startup specializes in helping companies build generative A.I. apps, and despite the presence of giant vendors like OpenAI, Adobe, and Microsoft, Brenner has successfully carved out a niche in the market.
Measuring Success Stories by Purposeful Implementation
The panelists agreed that the success of generative A.I. should not simply be measured by its proliferation in the business landscape. Instead, the real success stories will come from companies that use the technology purposefully and intelligently, rather than simply following the trend. Credo’s Singh emphasized the importance of creating appropriate sandboxes with safeguards and controls to ensure cautious testing of high-value applications.
Consideration for Potential Negative Impacts
While discussing the benefits of generative A.I., Gregg Moskowitz, a senior enterprise software equity research analyst at Mizuho Americas, raised concerns about potential negative impacts. He mentioned that the automation and productivity benefits of generative A.I. could pose problems for robotic process automation (RPA). Moskowitz cautioned that there will be trade-offs and offsets that need to be carefully evaluated as the technology evolves.
Competition in the A.I. Industry
The competition in the A.I. industry goes beyond language model creators and the businesses they may replace. Hardware, particularly chips, has become a fiercely competitive battlefield in the realm of A.I. According to Mark Papermaster, the executive vice president and CTO of AMD, this competition is driving innovation and optimization. The goal is not only to provide competition but also to ensure sustainability by setting specific benchmarks.
In conclusion, the panel discussion shed light on the importance of responsibly and competitively utilizing generative A.I. Businesses should approach the technology with caution, implement it purposefully, and consider potential negative impacts. Moreover, the competition in the A.I. industry, particularly in hardware, is driving innovation and fostering sustainability.