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The AI Tsunami is Here: Preparing for the Future
Widespread Adoption and Skepticism
Every executive believes AI is a transformative technology, yet most companies are moving as if it is incremental.
AI is advancing at an accelerating rate, and we are not ready for what is about to hit us.
Tech giants like Microsoft and OpenAI are making massive investments in AI infrastructure, signaling their long-term vision.
However, there is skepticism about the promised benefits of AI, with concerns about the lack of tangible returns on investment.
Disrupting Traditional Industries
Cobalt Metals, a 5-year-old startup, has become the first mining unicorn by using AI to discover the biggest copper deposit in over a decade.
This demonstrates how AI is transforming traditional industries like mining, with a talent base of geoscientists, AI experts, and software engineers.
Revolutionizing Drug Discovery and Software Development
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Part 2/3:
DeepMind's AlphaFold system has revolutionized protein folding, and its new AlphaProteo system can now design novel proteins for drug development.
Amazon is using its own generative AI tool, Amazon CodeGuru, to upgrade 50% of its Java production systems in just 6 months, saving $260 million.
The AI Arms Race and Adoption Challenges
Big tech companies are in a trillion-dollar AI arms race, but US firms are slow to adopt AI, with only 5.4% currently using it.
The tech sector has a higher adoption rate, while older, traditional firms are lagging behind.
Estimates suggest a $44 trillion impact from generative AI and an $11-18 trillion impact from traditional AI, but there is skepticism about the realization of these benefits.
Preparing for the Future
- AI is a general-purpose technology, like steam, electricity, and the internet, with widespread use cases, rapid improvement, and the need for complementary innovation.
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