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Wednesday, 29 November 2023

AI/ML and Other ICT Industry Trends in the coming decades

At the Brooklyn 6G Summit (B6GS) 2023, top tier economist Dr. Jeff Shen from BlackRock, presented a talk from the industry perspective of AI (Artificial Intelligence) and investment. Jeff Shen, PhD, Managing Director, is Co-CIO and Co-Head of Systematic Active Equity (SAE) at BlackRock. He is a member of the BlackRock Global Operating Committee, BlackRock Systematic (BSYS) Management Committee and the BlackRock Asian Middle Eastern & Allies Network (AMP) Executive Committee.

In his talk he covered the history of how and where AI has been traditionally used and how the thinking around AI has changed over the last few decades. He then presented his view on if AI is just a fad or it's more than that. To illustrate the fact, he provided an example of how Generative AI market is expected to grow from $40 Billion in 2022 to $1.3 Trillion in 2032. 

There are many challenges that AI faces that one should be aware of; namely regulation, cyber threats and ethical concerns. In the US, AI touches the entire economy, from legal to healthcare. In their quarterly reporting, firms are now discussing AI and the larger tech companies are not afraid to grow inorganically in order to get more exposure to the trend. 

You can watch the whole of his talk embedded below, courtesy of IEEE Tv.

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