“Artificial Intelligence is the most important technology transformation of the moment, and we need to be cognizant of its capability to change society”, Dr. Gege Gatt, CEO, EBO.
Dr. Gege Gatt speaks to global media organisation and renowned Fortune Magazine publisher, REO Communication, about Artificial Intelligence (AI) and its impact on society.
AI has notable impact on two fundamental business processes, says Dr. Gatt. These being acquisition and engagement. Acquisition will see businesses use the benefit of AI to profile, target, approach, and conversationally sign-up citizens in an omnichannel environment. Engagement will see businesses deploy AI to create a proactive, ongoing dialogue with customers, rather than one-off, transactional interactions. This, in turn, leads to improved service, better customer satisfaction, longer retention cycles and richer Customer Lifetime Value.
‘Machines are becoming less artificial and more intelligent’
EBO’s CEO states that machines will come to rely less on bottom-up big data and more on top-down reasoning that resembles the way humans approach problems. In turn, this sees the usefulness of AI increase as it moves from narrow domain to decision-support, making AI relevant in scenarios that seemed unsuitable only months ago.
Digital is not an instrument but a way of seeing the world
As Artificial Intelligence rapidly expands it leads to increased regulations of data privacy and security. Dr. Gatt points out three key themes that must be looked out for in the future. These are:
- The future of jobs will be different. Given that automation is becoming an important part of change, employability will be less focused on a candidate’s existing knowledge and more focused on the candidate’s capacity to learn over time.
- Businesses will need to be more focused on data in order to better understand patterns and incorporate it in decision-making.
- Innovations ushered in with haste may have unfortunate (and unintended) consequences that erode societal trust. It is key to encourage ethics in technology and innovation and make it a part of our educational framework.
Read the full article in the REO Malta Publication here.