When we think of AI, we often think of it as a technology for the future. Yet, that future is already here. Artificial intelligence is now in its 80th year of research and what we’re experiencing today is a re-awakening driven in part by generative AI. Unlike previous waves, this once-in-a-generation shift is going to change the rules of business and the game of business. Not everyone is aware of just how fundamental and significant of a technology shift this is and how fast it’s coming at us. Should we be early adopters or wait and watch? Will it make our lives better or put us out of work? Where is AI headed—and how quickly must we get there?
There couldn’t be a better person to answer these questions than Amjad Shamim, Founder CEO of OZ Digital Consulting and AI evangelist. According to Shamim, “77%- 80% of the devices you use every day will have some form of AI in them by the end of this year.” In other words, we’re just months away from a future where artificial intelligence will be accessible to everyone.
At the AI Future Summit, in his keynote AI Democratization, Shamim reflected on how deeply AI is becoming woven into modern business. He shared his thoughts on how AI is reshaping the world around us and what it means for us in our daily lives, for small businesses, and large enterprises making sense of this new reality.
Here are the major takeaways from our conversation:
The Economic Potential of AI
Amjad Shamim: Artificial intelligence is not just a buzzword anymore; it’s an economic reality. By 2030, AI is said to add $22 trillion to the global economy, increasing global GDP by 14%. In fact, the GDP of our society as a whole is expected to rise 21% in that time. But, as with any breakthrough technology, we need to consider AI’s impact on jobs. According to the World Economic Forum, AI will displace 85 million jobs by 2025. However, it will also create 97 million new roles, primarily in areas such as AI development, data science, and cybersecurity. And that demand will only grow as consumers and businesses continue to adopt and leverage AI. So what we need is a skilled This net workforce capable of meeting the demands of an AI-driven economy.
AI in Everyday Life
Amjad Shamim: AI will no longer be confined to labs or will be the privilege of a few—it will become a part of our daily routines. Think about the devices we use: smartphones, microwaves, cars, refrigerators. By the end of this year, 77-80% of these devices will have some form of AI in them, up from 35-40% in 2018. So AI is not a futuristic concept anymore; it’s the engine behind innovation and growth. And the democratization of AI has made it easy for just about anyone from small businesses to large enterprises to leverage the technology to grow their business.
The Evolution of AI Models
Amjad Shamim: The rapid evolution of AI technology is nothing short of remarkable. Consider OpenAI’s progress over the past few years:
- GPT-2 (2019): Released with 1.5 billion parameters.
- GPT-3 (2020): Expanded to 175 billion parameters with more sophisticated and human-like text generation.
- GPT-4 (2023): While we don’t know the exact numbers, it’s said to operate with trillions of parameters.
We’re seeing a quantum leap in AI’s ability to continuously learn and adapt from data. Things that we couldn’t do before, problems we couldn’t solve before, we would be able to solve them now. These are exciting times as AI continues to push boundaries, providing solutions to problems we once believed were impossible to solve.
AI: The New Business Revolution
Amjad Shamim: I’ve lived through the rise of personal computers to the early days of the internet, the dotcom boom and bust cycles…I’ve seen them all. But AI somehow feels extraordinary given its immense potential. If you ask me, this is nothing short of a revolution. It’s going to change our world in a positive way—reshape industries, unlock new opportunities, and address complex global challenges. So, what’s OZ Digital Consulting’s point of view? I’ll keep it simple—AI is a game changer and whether we want to believe it (or not) we are now amidst an AI revolution. But as with any powerful technology, its impact depends on how we wield it.
The OZ Digital Consulting Perspective
Amjad Shamim: When AI is strategically applied, it drives business value, helping organizations achieve their goals faster and more effectively. Our approach to AI is rooted in three core principles:
- Client-Centric Innovation
Every organization is unique, with distinct challenges, opportunities, and industry constraints. Understanding these nuances is critical before recommending or implementing any AI solution. Whether it’s optimizing operations, enhancing customer experiences, or driving innovation, our goal is to tailor our strategies to a client’s unique situation.
- Ethical AI Development
With great power comes great responsibility. At OZ, we’re committed to advancing responsible AI. That means ensuring transparency, fairness, and accountability in AI models. In a world where bad actors can exploit technology, maintaining ethical standards is non-negotiable.
- Agility and Flexibility
AI technology is evolving as we speak with new tools and frameworks emerging constantly. We’re advocating for adopting the best available technology that meets your needs while ensuring interoperability. Seamless integration with existing systems and adaptability to future advancements is how you can maximize AI’s potential.
A Call to Action: Engage, Collaborate, and Learn
Sam Altman, Founder CEO of OpenAI, has a sign above his desk that reads: “No-one knows what happens next.” Nothing could be more true of technology—we can only forecast or guess what’s about to happen. But that shouldn’t stop us from building on what we know by engaging, collaborating, and learning from and with each other. Shamim believes, “The power of AI lies not only in its algorithms but also in the collective wisdom and collaboration of those who work with it.”
Recommended Resources:
Download the white paper: 7 Proven Ways Microsoft AI Reduces Software Development Costs
Watch the video: Amjad Shamim’s Keynote: AI Democratization
Read the blog post: AI’s Past Hold’s the Key to Its Future
Visit: The Best of AI Future Summit 2024Top of Form
