Friday, June 14, 2024

PH business leaders urged to improve Gen AI literacy in their firms

Consulting firm Deloitte Philippines has urged business leaders to improve generative artificial intelligence (Gen AI) literacy throughout their respective organizations so that everyone is primed to use AI in a safe, optimal, and ethical way.

“What is important is that organizations maintain a beginner’s mindset when they deploy Gen AI solutions so that they are always looking to learn as this technology develops and expands its capabilities,” said Deloitte Philippines risk advisory leader Anna Pabellon.

“We must also be mindful that, unlike other technologies, Gen AI has the strong potential to assist with its future development. Managing the exponential improvement at the exponential speed that capability will generate cannot be handled by any one person or team.”

Pabellon noted that while local regulators work on establishing the Philippines’ framework for AI use and development, there are already robust templates and guidelines out there that organizations can use to inform their AI governance strategies.

The Philippine government has taken an AI-specific legislation approach to mitigating new technological risks and pushing best practices related to this fast-developing technology.

Early last year, a bill was filed in Congress proposing the creation of a comprehensive framework for the development and regulation of AI, including the establishment of the Artificial Intelligence Development Authority (AIDA) to oversee a national AI strategy.

In its first quarterly survey, Deloitte Philippines has revealed that leaders in business, technology, and the public sector are under tremendous pressure to understand what is happening with the rapidly changing technology and to quickly figure out how to harness its capabilities most effectively.

The survey conducted across six industries and 16 countries about the state of Gen AI showed that nearly 62 percent of the business and tech leaders surveyed reported ‘excitement’ as a top sentiment about Gen AI, while 30 percent expressed feelings of uncertainty.

More than 79 percent of respondents expect Gen AI to drive substantial organizational transformation in less than three years, suggesting that many AI-fueled organizations are on the verge of scaling up their efforts to move from experimentation and proofs-of-concept to larger-scale deployments of Gen AI.

More than four in 10 respondents believe they have “high” or “very high” expertise in Gen AI. Among this group, the 9 percent who report “very high” expertise levels reveal how leaders are thinking about and treating Gen AI differently.

Although the leaders surveyed are generally excited and enthusiastic about Gen AI’s potential business benefits, they are less optimistic about its broader societal impacts.

More than half of respondents expect the widespread use of Gen AI to centralize power in the global economy (52%) and increase economic inequality (51%).

To help address these concerns, the majority of respondents agree there is a need for more global regulation (78%) and collaboration (72%) to manage the responsible, widespread adoption of Gen AI.

The survey said that Gen AI experts are already integrating Gen AI into their product development and R&D, suggesting that they are beginning to use Gen AI for innovation and growth-related purposes.

Besides legislation, jurisdictions in the Asia Pacific have also taken to setting AI principles, guidance, and tools to regulate AI and manage its risks.

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