A Front Row Seat to a Paradigm Shift
FGS Global hosted an expert panel in London to discuss how to ‘Manage Reputation in the Age of AI’. The debate was fascinating, wide ranging and threw up some practical actions leaders can take.
“I believe we are witnessing the start of a paradigm shift – like the enlightenment or when we realised the earth orbited the sun. AI will fundamentally change our world.” – Phillip Souta, Global Director of Tech Policy, Clifford Chance
With the emergence of powerful AI we have a front row seat to a potential paradigm shift.
The utopian benefits cannot be ignored. Unlimited green energy. The cure for cancer. Finding a solution to future water scarcity. These incredible advances could be realised in years.
The radical transformation of a world built around scarcity to one of unlimited resource in a decade or two would be a paradigm shift indeed.
But paradigm shifts bring dislocation for society too. Workforces could be disrupted and reformed at jarring pace. Unintended consequences and bad actors could lead to catastrophic outcomes.
Can regulation keep up or find the right balance between innovation and keeping us safe, given artificial general intelligence could be here within 10 years?
Even within the next two to five years, immense change is coming and the practical implications are complex.
So what can we do to prepare for this exciting, uncertain future? Our panel offered five valuable insights for leaders:
Focus on strategy – don’t go looking for use cases for AI. Start with your key strategic challenges and work out how to apply AI to help solve them.
Someone needs to own AI – an executive needs to understand the technology, benefits and risks, especially commercial usage of generative AI, supplier agreements and regulation.
Governance is critical – a robust governance model, ethical framework and practical guardrails around how AI is deployed is vital to protecting customers, employees and wider society. Doing right by your stakeholders will protect your shareholders.
Take a nuanced view of the technology – thought-through and carefully monitored uses will be better than unfettered usage or blanket bans. AI will also bring data policies up the corporate agenda.
Upskill your workforce – employees working with AI will be more effective and productive than those without. They need education and training, across the company. An innovation team can help drive transformation.
If you have any questions on any of the points discussed, or to understand more about shifting business environments and the insights, strategies and tactics that help business deliver, please contact: Theo Hildebrand
