AI tech can be crucial for human society at large, says power-packed panel at B20 Summit

A distinguished panel of industry pioneers spearheading the advancement of AI convened today at the B20 Summit India 2023 in New Delhi. The focal point of their discussion was the role of AI in both business and society, highlighting the remarkable opportunities it offers while acknowledging the challenges it presents. Beyond delving into AI regulations, the panel’s discourse encompassed the exhilarating prospects of Artificial Intelligence, its far-reaching implications, and the imperative for universal engagement with this technology.

Arvind Krishna, Chairman and CEO of IBM, emphasized that artificial intelligence holds the potential to enhance productivity by 2-4%, effectively translating into tangible benefits. He articulated how this efficiency gain can foster growth for companies and governments alike, paralleling the transformative impact of semiconductors. Brad Smith, President and Vice Chairman of Microsoft, echoed the enthusiasm, citing AI’s role in products like Bing Chat. He posited that the essence of progress lies not only in having more answers or questions, but in leveraging AI to accelerate curiosity and exploration.

N Chandrasekaran, Chair of B20 India and Executive Chairman of Tata Sons, succinctly encapsulated his optimism: “Solving remarkably complex problems can create the most profound societal impact.” Echoing this sentiment, Michael Miebach, CEO of Mastercard, underscored the potential for AI to address pressing global challenges, positioning Generative AI as a key to unlocking pathways to prosperity for all.

Guiding the discourse was Shantanu Narayen, Chair and CEO of Adobe, who heralded digital literacy as the contemporary equalizer, likening it to the traditional trio of reading, writing, and arithmetic. He advocated embracing AI’s role in this context, while acknowledging the ethical considerations it entails. Collectively, the leaders conveyed a shared belief that AI is an affirmative force, enabling individuals equipped with AI capabilities to manifest heightened creativity, productivity, and efficiency.