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Q: Do you think the increasing reliance on Artificial Intelligence (AI) might stifle innovation, or will it open new avenues for creative thinking?
A: The whole of Artificial Intelligence (AI, in short) is still an arcane subject lacking homogeneity of clarity. The perceptions range from stifling of innovation to need for regulatory intervention to prevent misuse for humanity to fostering innovation. Everyone has a confirmation bias and perhaps there are partial truth in every position.
I strongly believe that the clock of technology can’t be reversed. So, the best route is to treat it as a force multiplier through appropriate usage. When innovation is powered by powered by AI in business would help ensure that businesses could improve productivity, to start with just by sheer speed of execution and realtimeness. AI could enable comprehensive data research capabilities that facilitate effective decision-making and risk assessment. The possibilities for ensuring mass adoption of AI in business would increase only when it is realised that the value benefits of AI far outweigh its negative implications. It all depends on who uses it for what purpose. Beyond business, I can visualise it can revolutionise other field too, including healthcare, fintech etc. Regulatory might be required for AI’s misuse but regulators need to be alert that over regulation must not stifle innovation.