/What business leaders need to know about artificial intelligence

What business leaders need to know about artificial intelligence

Futurizonte Editor’s Note: Who is leading whom in the area of artificial intelligence?

Image for illustration purposes only. Source: Pablo.Buffer

Original author and publication date: Sara Brown (MIT) – Sept. 16, 2019

Summary (MIT): AI isn’t coming for your job — yet. But leaders do need to understand how machine learning, natural language processing, and other intelligence will impact your business.

Artificial intelligence dominates the headlines, part promise and part specter, as society grapples with how technology is changing the way we work and live.

Both hype about AI’s immediate potential and fear about its effects are exaggerated, according to MIT Sloan professorThomas W. Malone,director of the MIT Center for Collective Intelligence.

A realistic understanding of artificial intelligence and the promise of robotics, machine learning, and natural language processing is increasingly important for businesses. The 2018 AI Index report found increased interest in the topic around the world, including substantial increases in AI research, investment in AI startups, enrollment in AI college courses, and jobs that require deep learning skills.

“A lot of senior executives and business leaders today are almost desperate to understand how AI may affect their businesses,” said Malone, who teaches a popular executive education course on artificial intelligence and business strategy. “I think leaders are increasingly worried in many cases that if they don’t figure out how to use AI effectively, they’ll be left behind.” Malone said the course emphasizes the history of artificial intelligence and common misconceptions along with how businesses can harness technology.

Malone said the course also tries to give business leaders a level of AI understanding in between a superficial knowledge of buzzwords and the technical know-how of programmers. He compared it to knowledge about how a car works. You don’t have to know how to repair a car in order to know what to do when you have a flat tire or when the car runs out of gas.

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