Baidu Inc (ADR) (NASDAQ:BIDU) CEO, Ya-Qin Zhang and QUALCOMM, Inc. (NASDAQ:QCOM) CTO, Matthew Grob agreed that Artificial Intelligence is the future of technology.
During a panel discussion at the World Economic Forum, in Davos, Switzerland, both were quick to indicate that the fast-paced evolution of this technology horizon is both ‘hopeful and fearful.’
This is because the technology allows companies such as theirs to read the mind of online users, by monitoring their facial expressions as well as natural language. They are able to analyse data they collect of the user and analyse it to differentiate various emotions.
Baidu Inc (ADR) (NASDAQ:BIDU) CEO’s co-panellists, Andrew Moore, an AI researcher at Carnegie Mellon University and Stuart Russell at the University of California, Berkeley remained positive about the technology. They regarded Artificial Intelligence as ‘vastly improving the life of humans on earth in the space of the next decade.
Many of who were part of the discussions on AI, were quick to express their fears about the penetration of the technology. Both researchers as well as executives said that the powerful technology also laid bare several negatives. These include economic displacement, and the inability of mankind to eventually control the consequences of this technology.
AI In the next few years
Baidu Inc (ADR) (NASDAQ:BIDU) CEO’s co-panellists also highlighted that in the few years, AI would take away most white-collar jobs, even as it made process faster and autonomous.
The panels said that law, medicine were the first sectors which would see proliferation of AI solutions. On the other hand an equal number of jobs opportunities would arise for the teaching community. These professionals would in turn engage AI technology and aids to deliver to their work. Nurses too would not be displaced by software, they indicated.
In the next few years, Baidu Inc (ADR) (NASDAQ:BIDU) is expected to apply its AI prowess to offering insurance and to is loan underwriting services. AI would be deployed in these sectors as it is able to detect risk better. Baidu’s core competence, namely search engine services too would be aligned with AI. Zhang also raised anxious concerns about the over-dependence of humanity on system driven processes. He argued that sudden failure of these processes would jeopardize several facets of life. Autonomous driving, storage solutions which do not require humans to remember and more could place human life under high-risk in the future, when there are any kind of outages.
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