Responsible innovation, reskilling needed as tech cos embrace generative AI: Industry experts

New Delhi, on July 16th.
Generative artificial intelligence is going to change how businesses work. Experts in the industry say that we need to learn new skills, and be careful with how we use this technology.
Elon Musk, the richest person in the world, shared on Twitter Spaces that he has started a company called xAI. This company focuses on developing artificial intelligence that is very curious and seeks the truth. He recommends that industries should regulate themselves through a professional organization.
Arun Kumar Parameswaran, a high-ranking executive at Salesforce India, stated that although Gen AI is important for their operations in different sectors, it is not sufficient to just provide its capabilities.
Companies are quickly trying to use and apply generative AI. It is very important for them to focus on having a good balance. “He said that it is not enough to just provide generative AI capabilities. Responsible innovation must be the top priority. ”
Companies are investing a lot of money in Gen AI. HCL and Wipro have created Gen AI labs. Wipro is giving $1 billion to make AI solutions.
A software company called Zoho, based in Chennai, wants to bring Gen AI into their company. They are making Learning Language Models (LLMs) that can talk, summarize, rephrase, and learn new tasks using AI techniques for communication and learning. This information was given by Ramprakash Ramamoorthy, who is the Director of AI Research at Zoho.
He believes that AI alone cannot replace someone’s job, but a person who has access to AI can.
Currently, the rules set by governments are still in the process of catching up with advancements in technology. As a result, most of the development of artificial intelligence (AI) is being regulated by the developers themselves. He said that companies using AI in collecting private information should have strong moral values while developing the technology.
Vijay Shekhar Sharma, the person who started and runs Paytm, is worried about a small group of individuals and nations gaining a lot of power.

Recently, the founder and CEO of an E-commerce startup called Dukaan replaced 90 percent of its customer support team with a computer program that can chat and assist customers automatically.
Entrepreneurs need to be aware of the negative effects of using AI and look for other options, according to Shantanu Rooj, the founder and CEO of TeamLease.
“He added that organizations will need to find a balance between the benefits they get from their business and the impact they have on society. ”
Ajay Kumar, the CEO of a technology company in Bangalore called SLK, says that entrepreneurs are very excited about the growth of websites and mobile technology. It’s difficult to keep up with all the new progress happening.
“He said that while there is a lot of excitement about creating new business models and achieving high financial values, we need to make sure that our data is kept private and that we follow ethical standards. This way, technology can benefit everyone. ”
Sonya Ahuja, who started a company called Imarticus Learning, said that it’s important for technology to keep improving and for people to keep learning new skills, especially in the education industry. Another company called Physics Wallah has a tool that helps students with their questions by using artificial intelligence to give suggestions and guidance.
The Chief Technology Officer, Devesh Mishra, wants AI to be controlled by humans and wants it to be transparent so that it feels more human.
“According to him, technology should work alongside and improve what humans can do, instead of taking their place or making them weaker. ”
San Francisco-based transcription tool Fireflies. ai is developing a way to take personalized notes. Their assistant, AskFred, is similar to ChatGPT. It finds answers using a repository of notes.
Krish Ramineni, the CEO of Fireflies. ai, believes that companies that do not use new and innovative technologies will have a hard time keeping up with those who do. He thinks that AI is similar to a calculator or a tool like Excel that helps you do work more quickly.
AI can do calculations, make predictions, and give advice on how to get better. “But, when it comes to earning trust and finalizing agreements, nothing is more effective than personal interaction,” he mentioned.
San Mateo-based Yellow. ai wants to make technology available to everyone by supporting languages spoken in local areas.
The CEO and co-founder of Yellow. ai, Raghu Ravinutala, says that entrepreneurs should actively deal with the effects of automation on jobs.
“Advancements in technology may cause some industries to lose jobs, but entrepreneurs should invest in retraining to make sure workers can switch jobs easily,” he says.
Sam Altman, the person who started ChatGPT and leads the company OpenAI, joined 350 other people in signing a statement from the Center for AI Safety. The statement is about making sure that AI doesn’t cause humans to go extinct.
Amit Das, who started a company called Think360. ai in Mumbai and is also the CEO, believes that people are often afraid of things that they don’t understand completely, but only for a short period of time. “He stated that although ChatGPT, a type of AI accessible to the general public, elicits both excitement and fear, the automation of tasks will pave the way for new advancements. ”
Soham Chokshi, who is the CEO and co-founder of Shipsy, a company that uses AI in logistics, believes that technology should give more power and support to the workers. “According to him, technology should not be seen as a substitute for human work. ” ”
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