At the most basic level, the opportunities presented by the application of generative AI can have some immediate impact.
The automation of repetitive tasks, leading to significant gains in efficiency & productivity can result in lower operational costs & increased output. Similarly, the efficient analysis of vast amounts of data to provide insights that support better decision-making mean that businesses & governments can leverage AI for data-driven strategies & policies.
Of particular interest, given the shortening strategic & tactical timeframes, will be the application of generative AI to assist in more rapid decision-making.
A particular opportunity rests in the healthcare space. AI has the potential to transform healthcare through advancements in diagnostics, personalised treatment plans, more accurate diagnostics & predictive analytics. These capabilities all have the ability to provide leading better patient outcomes & optimised resource management.
In & of itself, the AI sector is expected to contribute significantly to economic growth, creating new markets & job opportunities in technology development, maintenance, & oversight.
Confirmation Bias in Generative AI Systems
Put simply, confirmation bias in AI means that our tendencies to search for, interpret & remember information, run the very real risk of confirming pre-existing beliefs. We’ve all experienced the social media ‘user-preference syndrome’ & feedback loops. In the back end, those algorithms personalise content based on previous interactions & data filtering that removes content that is misaligned to a users ‘beliefs’. Echo chambers & groupthink results & the utility of those algorithms declines for the user who wants to review a broad range of views or opinions.
The determination of what is true through the application of critical thinking will be an increasingly important skill for business leaders, educators & individuals alike.
