AI Transformed: Navigating the New Digital Frontier from Classroom Insights to Global Impacts

Artificial Intelligence (AI) is changing the way we interact with the world: from opening our phones with facial recognition software, interacting with Chatbots on myriad mobile and web applications to using ChatGPT for a variety of tasks. AI is truly pervasive.

?One of my favorite courses at the University of Maryland - Robert H. Smith School of Business , last term, was the ‘Foundations of Artificial Intelligence’ taught by Professor Balaji Padmanabhan . In this course, we discussed the history, types, applications and ethical issues associated with the use of artificial intelligence. Outside of the key innovations in the AI field (some unsurprisingly developed by 谷歌 ) like embeddings, transformers and hention networks, what I found most surprising is how AI is transforming entire industries, for better or worse. For instance, processing loan applications often required long wait times and human judgment. Now, financial institutions use algorithms to compare a loan application to historical loan data, demographics,? financial data et cetera - and can process more loans in a shorter time frame; potentially increasing access to capital. In the education space, companies can customize training or upskilling models to fit each learners’ unique needs through customization and personalization. However, businesses have not always benefited from these changes. For instance, before the release of ChatGPT in November 2022, Chegg was a leading player in the education sector (with a market capitalization of ~ $5.3 billion). Shortly afterwards, it lost +80% of its value (market capitalization of ~ $740 million today). I believe companies like Chegg provide significant market value and simply need to rethink their strategy and value offering. Still, this story highlights the need for companies and individuals to assess, understand and deploy AI in context.

In March 2024, we heard the announcement of the first AI software engineer - Devin AI (which is capable of coding, debugging and developing its own websites). Some fear that it will take the jobs of software developers, others not so much (calculators were thought to eliminate the need for mathematicians, but here we are, still punching away at those calculator keys). As the artificial intelligence landscape continues to evolve, the time is ripe for us to pause and think:??

1. What is artificial intelligence? And what are the dominant frameworks or architectures for solving different problems? How might I use them??
2. How can I rethink my job or organization in a world of artificial intelligence?
3. What are the key limitations to what artificial intelligence can do??
4. How might we influence the regulatory environment positively, as the artificial intelligence landscape evolves?

Back to my home turf, the University of Maryland recently announced the new Artificial Intelligence Interdisciplinary Institute at Maryland (AIM), dedicated to developing the next generation of artificial intelligence education, technology and leaders. Indeed, the state of Maryland continues to demonstrate its commitment to be a leader in the domain.?