Last week Greg Fallon attended #GenerativeAIWorld in Boston. Check out his key takeaways from the event and what stood out to him about the future of generative AI.
Last week I had the opportunity to attend Generative AI World 2024 in Boston, a gathering of leading experts, investors, and innovators in the AI space. The event was filled with insightful discussions and thought-provoking presentations that highlighted the current state and future trajectory of generative AI. Here are a few takeaways from the meeting that I found particularly Interesting. AI Shifting from Processes to People Shikhar Ghosh, a Professor at Harvard Business School, presented a compelling perspective on the evolving role of AI. According to Ghosh, the focus of AI development will shift from automating processes to enhancing human experiences and capabilities. This shift signifies a deeper integration of AI into our daily lives and workplaces, where the goal is not merely efficiency but also empowerment and collaboration. This human-centric approach could redefine how businesses utilize AI, making it more personal and accessible. Investing in the Future of AI One of the most fascinating sessions was a presentation from Ulrike Hoffmann-Burchardi of UBS who shared how she sees AI evolving in the coming years. Differentiated Data Assets as Key Opportunities: Companies that own unique and valuable data assets will be at the forefront of AI innovation. These firms will have a competitive edge, as data quality becomes increasingly critical to building advanced AI models. Rising Profitability of AI Companies: With the development of new business models and improved efficiencies, despite massive hardware costs, AI companies are expected to become more profitable in the near future. Emergence of Vertically Integrated AI Foundries: Vertically integrated AI ecosystems that manage everything from data collection to AI model creation and management will take lead in driving end-to-end AI solutions. Disruption of Traditional Software Companies: As they grow in sophistication Generative AI models will replace the core capabilities of existing software applications.? Adoption Trends in AI John Sviokla highlighted key trends in how companies are deploying generative AI Small Models at the Edge: There is a growing emphasis on deploying smaller AI models directly on devices, rather than relying on centralized, cloud-based systems. This edge computing approach enhances speed, privacy, and efficiency, enabling smarter, more localized AI applications. Sovereign AI “Own Your Own Intelligence”: The concept of sovereign AI is gaining traction, advocating for organizations and even countries to develop and control their own AI capabilities rather than relying on external providers. Case in point is Saudi Aramco, the world’s largest energy company, who is developing one of the biggest AI models in the world. This is a testament to the scale at which industry giants are adopting and investing in AI technology.