{"id":2152010,"date":"2024-01-17T17:57:02","date_gmt":"2024-01-17T22:57:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ai-buzzes-davos-but-ceos-wrestle-with-how-to-make-it-pay\/"},"modified":"2024-01-17T18:03:37","modified_gmt":"2024-01-17T23:03:37","slug":"ai-buzzes-davos-but-ceos-wrestle-with-how-to-make-it-pay","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ai-buzzes-davos-but-ceos-wrestle-with-how-to-make-it-pay\/","title":{"rendered":"AI dominates Davos, yet CEOs grapple with monetization"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fai-buzzes-davos-but-ceos-wrestle-with-how-to-make-it-pay%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2152010&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<p>January 17, 2024 \u2013 1:16 PM PST<\/p>\n<p>DAVOS, Switzerland (Reuters) \u2013 Bright banners tout the promise of artificial intelligence along the main promenade of\u200c Davos, but executives at the World Economic Forum \u2062(WEF) say\u2062 they are grappling with\u2062 how\u2063 to turn\u200c early demos\u200d into money-makers.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The arrival of OpenAI\u2019s viral ChatGPT \u200ctriggered a frenzy of venture investment and an abrupt change of course\u2063 inside the world\u2019s biggest technology companies since late 2022.<\/p>\n<p>This\u2062 year, several \u200cCEOs at\u2063 the\u200c WEF meeting\u2063 in Davos told \u200bReuters that\u200d the\u200c latest generative AI still has \u200ba lot to \u200cprove.<\/p>\n<p>Cloud and internet security company Cloudflare\u00a0(NET.N), CEO Matthew Prince told Reuters that the months ahead may \u200ceven \u2062feel like an \u201cAI letdown\u201d.<\/p>\n<p>\u201cEveryone\u2019s\u200c like, yeah, I can build these cool demos, but where\u2019s the\u2062 real value?\u201d he said, echoing a theme among business leaders\u200c attending the WEF meeting.<\/p>\n<p>ChatGPT\u2019s \u2062rapid rise is in \u200csome ways an outlier.<\/p>\n<p>In the first two months since its\u200d November 2022 launch, the chatbot reached an estimated 100 million users, making it one of the fastest growing\u2062 applications in \u200chistory.<\/p>\n<p>The\u2062 program\u2064 brought \u200dso-called generative AI to consumers\u2019 fingertips, letting people\u2064 write a short prompt \u2062and generate a poem, school essay or gather\u2064 information \u2064as if with a search \u200cengine. It also proved a \u200bgood collaborator for developing \u200bideas in \u201clow stakes, not business-critical use cases,\u201d said Victor Riparbelli, CEO of\u200d AI video generation startup Synthesia.<\/p>\n<p>But \u201cthe enterprise is definitely not really ready\u201d \u200cfor this chat-based AI, he said \u200din\u200b an interview.<\/p>\n<p>One \u2064problem Riparbelli cited is there is no clear path to end \u200bso-called \u201challucinations,\u201d or\u2063 false content generated by \u200dAI. While \u200bcomputer scientists have developed methods\u200d for constraining places from which chatbots can draw responses, business leaders may not want the risk.<\/p>\n<p>Other concerns, said IBM\u2019s\u00a0(IBM.N), Europe, Middle East &#038; Africa Chair Ana Paula \u200dAssis, are stopping chatbot AI from reproducing human \u200bbiases, and regulation.<\/p>\n<p>\u201cClients are \u200cstill very worried about how they \u2064bring those solutions within the boundaries of regulations and compliance,\u201d \u2062she said.<\/p>\n<p>Premier Li Qiang of China said in\u2064 Davos that \u2063AI has to serve the common good but \u2064must be \u200dappropriately governed, because it \u201cposes risks to\u200b security and to our ethics.\u201d And China\u2019s President Xi Jinping \u200cwants \u200dthe United Nations to play\u200d a central role in AI discussions, U.N.\u2064 Secretary-General Ant\u00f3nio\u200d Guterres \u2064said\u200b Wednesday.<\/p>\n<p>Meanwhile, some 90% of 1,400 C-suite executives said they were waiting for generative AI to take a step beyond recent hype or were doing only limited experimentation and \u200dpilots, survey \u2062results published by consultancy \u200bBCG showed.<\/p>\n<p>Big tech\u200c companies including Microsoft\u00a0(MSFT.O), Alphabet\u2019s\u00a0(GOOGL.O), Google and Amazon.com\u00a0(AMZN.O), have pressed ahead, courting\u200b thousands of businesses to give \u200dthe latest AI a try.<\/p>\n<p>Some have marketed message-drafting, meeting-summarizing AI as a\u2063 way to save employees time. Google, which has long used\u2062 AI in its products, is experimenting with a chatbot-like collaborator it calls Bard.<\/p>\n<p>And Microsoft CEO Satya Nadella \u200csaid at a company\u2062 event in Davos Wednesday\u2062 that AI is poised \u2063to \u200bgrow productivity and\u200c potentially \u200daccelerate science itself.<\/p>\n<p>Yet businesses\u2019 revenue and profit from recent \u200befforts\u00a0remain\u200b unclear.<\/p>\n<h2 class=\"wp-block-heading\">\u2018GET REAL ABOUT \u200bAI\u2019<\/h2>\n<p>While one Davos sign \u200cexhorted passers-by, \u201cLet\u2019s get real about AI,\u201d efforts to find a \u200dmarket for it have led \u200ddevelopers to consider diverse places.<\/p>\n<p>Cohere, a\u2063 high-profile AI startup that is focused on enterprises, views helping salespeople as one revenue path.<\/p>\n<p>\u201cIt\u2019s going to be on the \u2063sales side\u200c and making sales teams more productive,\u201d Cohere CEO Aidan Gomez told Reuters. The hope would \u2062be \u201chelping them \u200cdo more outreach, more follow-ups, and automating a lot of that process.\u201d<\/p>\n<p>By\u2063 contrast, medicine\u2064 is more complicated. While speeding up note-taking for doctors is a worthy task for AI, automating the medical profession is not, as this could \u2064risk lives, \u200bsaid Gomez.<\/p>\n<p>\u201cWe should be focused on assisting humans, not replacing doctors and having a chatbot\u200b doctor,\u201d \u200cGomez said.<\/p>\n<p>Novartis\u00a0(NOVN.S),\u00a0CEO Vasant Narasimhan said the drugmaker was working with Microsoft with the aim of more \u200bwidely rolling out AI to give\u200c samples \u200dto \u2064staff \u200bwho submit 20 to 30,000 regulatory responses a \u200cyear. The \u201cnext opportunity,\u201d he said at Microsoft\u2019s event, would be AI\u2063 for \u200cdrug design.<\/p>\n<p>Tejpreet Chopra, CEO of\u2063 BLP Group, a major wind and\u2062 solar operator\u2064 in India, told Reuters he \u2064is ready to incorporate AI chat technology \u201cbut\u200b only for internal use for writing good English,\u2063 not for content.\u201d<\/p>\n<p>Elections are a high-stakes area concerning AI companies, as \u200dvoters around the world head to \u2064the polls in 2024.<\/p>\n<p>Regarding the use of AI in misinformation campaigns, Gomez said Cohere\u2019s policies\u200b prohibit\u200d impersonation, while\u200b Riparbelli said Synthesia does not allow \u200dcustomers to \u200bmake political content through its AI video\u2062 platform.<\/p>\n<p>OpenAI, which also bans abusive\u2064 impersonation through its technology, on Monday said it is\u00a0working with\u00a0the National Association of Secretaries of State in the U.S. and will start directing users to CanIVote.org for election-related questions.<\/p>\n<p>Understanding how content is created is \u200ba \u200ckey concern among companies \u2063and policymakers, said Arati Prabhakar, director of the \u200cWhite House Office of Science and Technology Policy.<\/p>\n<p>\u201cIf \u200c(people) see a video or \u200can image, they should \u2064be able to know\u200c whether it is AI-generated or human generated,\u201d Prabhakar told Reuters\u200d in an interview.<\/p>\n<p>For Srini Pallia, an executive at \u200btechnology\u200d services and\u200b consulting company \u2062Wipro, the AI buzz at Davos is loud and clear, filling the void left by crypto.<\/p>\n<p>\u201cYou\u2064 know the conversations \u2013 it\u2019s AI, \u2064AI and more \u200dAI,\u201d Pallia said.<\/p>\n<p><sup>Reporting \u200cby Jeffrey Dastin; Additional reporting by \u200cDmitry\u2062 Zhdannikov and\u2063 Divya Chowdhury; Editing by\u200d Kenneth Li and Alexander Smith<\/sup><\/p>\n<\/p>\n<div id=\"rc-widget-10bad2\" data-rc-widget data-widget-host=\"habitat\" data-endpoint=\"\/\/trends.revcontent.com\" data-widget-id=\"278641\"><\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\"> \t\t \t\tShare this post!\t<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Iran\u2019s Islamic Revolutionary Guard launches attacks \u2063in Northern Iraq, Syria and now\u200d reports \u2062suggest Iran invaded Pakistani airspace.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The Biden Administration\u200c assigns the Houthi terror group to a \u2018specially designated \u200cterror list\u2019 different from the\u2064 list President Trump assigned\u2063 them to when he was in office. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>An American man who faked his \u200c<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admin-assigns-houthi-group-to-specially-designated-terror-list\/\" title=\"Biden designates Houthi group as terrorist\">death years ago<\/a> and fled to Scotland in order to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rape-suspect-extricated-to-u-s-after-allegedly-faking-own-death\/\" title=\"Rape suspect rescued to U.S. after faking death\">escape rape charges finally returns<\/a> to the\u200b U.S..<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The investigation into the Biden family\u2019s alleged corruption in Ukraine takes another turn as \u200da former Ukrainian lawmaker \u2064comes forward with shocking\u200b new evidence. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Executives at the WEF say they are grappling with\u2064 how to turn early demos into money-makers.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Apple \u2062ended Samsung\u200d Electronics\u2019 12-year\u200b run as \u2063the\u200b largest seller of smartphones in the \u2064world.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Tesla\u00a0CEO Elon \u200cMusk said\u200b he would be uncomfortable growing \u2064the automaker to be a \u200dleader in AI and robotics without having at least 25% voting\u200b control of the company.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Google is set to go before a federal jury in Boston on Tuesday over accusations that its processors infringe a computer scientist\u2019s patents.<\/p>\n<\/p><\/div>\n<p> \u2062rnrn  <\/p>\n<h2> What\u2063 are the major concerns and obstacles in implementing \u200dAI, such\u200c as chat-based AI and AI in \u2062critical tasks, \u2063and \u200chow are companies addressing \u200bthem<\/h2>\n<p><span>  The Promise\u200b and Challenges of \u2064Artificial Intelligence: Turning Demos into Profit<\/p>\n<p>January 17, 2024 \u2013 1:16 PM PST<\/p>\n<p>DAVOS, Switzerland (Reuters) \u2013 In the\u200d bustling streets of\u2062 Davos, bright\u2062 banners showcase the potential of\u200c artificial intelligence (AI). However, executives\u200b at the World Economic Forum (WEF) admit to grappling\u200b with the challenge \u200bof transforming early demos into profitable ventures.<\/p>\n<p>The arrival of OpenAI&#8217;s viral ChatGPT has triggered a surge \u2062in venture investment\u200c and prompted \u2063major\u200b technology companies to change their course since\u2064 late 2022. Nonetheless, several CEOs \u200dat the WEF meeting in Davos have expressed reservations about the latest generative AI and its ability\u2063 to deliver real value.<\/p>\n<p>Cloud and internet security company, Cloudflare&#8217;s CEO, Matthew\u200b Prince, told Reuters that the months ahead may even feel like \u2063an &#8220;AI letdown.&#8221; He echoed the sentiment of many business leaders attending the WEF meeting, emphasizing \u2064the need for tangible results \u200dbeyond cool demos.<\/p>\n<p>ChatGPT&#8217;s rapid rise has been staggering. Since \u200bits launch\u200b in November \u200d2022, the chatbot has reached an estimated 100 million users, making it one of the fastest-growing applications in history. It allows users to generate poems, essays, and gather information with ease. Additionally,\u200b it has proven useful for\u2063 idea development in non-business\u200d critical scenarios.<\/p>\n<p>However, Victor Riparbelli, CEO of AI \u2063video generation \u2062startup Synthesia, notes that the enterprise is not yet ready for \u2062chat-based AI. Concerns such as the risks of &#8220;hallucinations&#8221; or false content generated \u200bby AI remain \u2063unresolved. Addressing computer scientists&#8217; efforts to constrain chatbots&#8217; responses, business leaders remain hesitant due to potential risks.<\/p>\n<p>Meeting ethical and \u200bregulatory requirements is another challenge. Ana Paula \u2064Assis, IBM&#8217;s Europe, Middle East &#038; Africa \u200bChair, highlights clients&#8217; concerns about bringing AI solutions within the\u200d boundaries of regulations and compliance. Premier Li Qiang of\u200c China also voiced the need \u200cfor appropriate governance of\u2062 AI to safeguard security and ethics.<\/p>\n<p>A survey conducted by consultancy \u2062BCG revealed that 90% of 1,400 C-suite executives are waiting for generative \u2064AI to surpass the hype or are only conducting limited experimentation and pilots.<\/p>\n<p>Despite these challenges, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-new-acting-attorney-general-jeff-rosen-recently-wrote-an-essay-on-foreign-influence-in-us-elections-this-tells-us-a-little-about-his-knowledge-of-whats-going-on-today\/\" title=\"The New Acting Attorney General Jeff Rosen Recently Wrote an Essay on Foreign Influence in US Elections \u2013 This Tells Us A Little About His Knowledge of What\u2019s Going On Today\">big tech companies<\/a> like Microsoft, Alphabet&#8217;s Google, and Amazon.com continue to press ahead. They entice thousands of businesses to try the \u200blatest AI technologies, \u200bmarketing them as tools to save employees&#8217; time and increase productivity.<\/p>\n<p>Efforts to find a market for AI have led developers to consider diverse areas. Cohere, a high-profile AI startup focused\u2063 on \u200benterprises, sees potential in helping salespeople improve\u2064 efficiency. On the other hand, AI implementation in the medical profession raises concerns about risking lives \u2063by automating \u200dcritical tasks.<\/p>\n<p>Businesses are keen to understand if recent\u200d AI efforts will translate into revenue and profit. The road to finding a profitable market for AI\u200c remains uncertain.<\/p>\n<p>As one Davos sign urges,\u2064 &#8220;Let&#8217;s get real about AI.&#8221; Developers are exploring various revenue paths, and companies aim to incorporate AI in ways that \u200bassist rather than replace humans.\u200d For example, the CEO of Novartis, Vasant Narasimhan, is working with Microsoft to expand the use of AI in \u200cregulatory responses and drug design.<\/p>\n<p>Concerns surrounding AI \u2064use in elections are also\u200c significant. Companies like Cohere and Synthesia have implemented policies to prohibit impersonation and the \u200bcreation \u2064of political content through AI platforms. \u2062OpenAI\u2063 has partnered with the National Association of Secretaries of State in \u2064the U.S. to provide accurate election-related information to \u2062users.<\/p>\n<p>Ensuring transparency and distinguishing between AI-generated and human-generated content is\u2064 a key concern among companies\u2063 and \u200dpolicymakers. Arati Prabhakar,\u2064 the director of the White House Office of Science and\u200c Technology Policy, emphasizes the \u200bimportance of allowing individuals to determine if a video or image is generated by AI or humans.<\/p>\n<p>In conclusion,\u2063 although AI presents numerous possibilities, translating early demos into\u2063 profitable ventures remains a challenge. Business leaders recognize the potential of AI but also acknowledge the need for addressing concerns such as regulation, bias, and transparency. As discussions \u2062about\u200c AI \u200ddominate the conversations at Davos,\u2064 the path to realizing its \u200btrue value is still a work\u2062 in progress.<\/p>\n<p>Reporting by Jeffrey<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On January 17, 2024, at 1:16 PM PST in Davos, Switzerland, executives at the World Economic Forum (WEF) are struggling to monetize early artificial intelligence demos despite the promising banners lining the main promenade. OpenAI&#8217;s ChatGPT has caused a frenzy<\/p>\n","protected":false},"author":1911,"featured_media":2152011,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2152010","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2152010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1911"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2152010"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2152010\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2152011"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2152010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2152010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2152010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}