Successfully riding the AI wave: My takeaways from the Bloomberg Technology Summit

Zoran Vasiljev Categories: Business Insights Date 05-Jul-2023 3 minute to read
Successfully Riding The AI Wave My Takeaways From The Bloomberg Technology Summit News

    If there is one intellectual treasure chest for technology aficionados, it is surely the Bloomberg Technology Summit. Luckily, I had an opportunity to attend the Summit two weeks ago and was impressed with the insightful discourse on the state and the future of artificial intelligence.

    Silicon Valley was always at the forefront of innovations, and now it has a new epicenter of obsession – AI. More importantly, various luminaries were not discussing the AI's "what ifs" but "as is" because we are fastly transitioning into a phase we can aptly name – "the technology of intelligence".

    A new wave of the digital revolution

    AI is swiftly moving from a radical conceptualization to exciting and tangible applications, as almost everyone is discovering various angles to AI-infuse their products and services. Of course, when something is new, everyone would love to dabble with it, and this is where companies need to be careful – "AI tourists" who feign expertise in this domain might do plenty of damage to your products or services. So my advice would be to open your eyes and thread these waters carefully and let proven experts always guide you.

    On the other hand, we are - once again - witnessing an amazing wave of the digital revolution – this time, AI is the torchbearer.

    Software products and services already significantly impact our society, and with AI digesting copious amounts of data, this is shaping a reality where AI becomes an indispensable system of our lives.

    Takeaways from the Bloomberg Technology Summit

    Exciting as it may seem, and with plenty of experts being endlessly optimistic about AI's transformative potential - we must bear in mind to balance AI's potential with caution and utmost responsibility. Therefore, the Summit was also laced with the importance of vigilant oversight and regulations to ensure AI serves as a benefactor to our societies and not as an existential risk. I believe that over time, AI security will emerge as a separate discipline that will diligently safeguard society to prevent the malevolent usage of this exciting new technological advancement.

    One of the discussions I would like to spotlight is the relationship between AI and software developers. Growing concern that AI might replace devs was effectively debunked. Human creativity cannot be replaced – AI can only function as an effective collaboration tool where people and AI work together to develop creative software solutions, but not as a main driver. Therefore, the Summit concluded that AI would catalyze an explosion in software development but will never replace human capital.

    Where will AI take us?

    Businesses, individuals, and societies worldwide need to brace themselves for this new wave of tech advancement. You cannot avoid it, so you better successfully "ride the AI wave". Truly, we are at the beginning of something transformational. For AI to positively impact everyone, we will require adaptability, foresight, and dedication to ethical and secure tech advancement of applications or solutions... as well as human management of AI.

    Therefore, I can conclude that the Bloomberg Technology Summit was a window into the present case of AI and also a looking glass into the future. Let us witness how AI's footprints will be etched in the history of human innovation.

    Zoran Vasiljev Author
    Zoran Vasiljev Partner and President Americas & APAC

    Zoran is a serial entrepreneur and C-level executive, with over 26 years of international management and operational experience across different industries.