Disruption in the AI space as adoption rates accelerate in 2023

In this interview, Mark covers how there is a need for companies to have AI risk management frameworks in place when operationalizing AI to avoid bias, privacy, and security issue. We are seeing that generative AI can disrupt the AI space and create something new, such as automated code development and faster model training. The diffusion of innovation model is being followed in AI adoption, with early successes leading to proof points, efficiency, and affordability – and brands need to make sure they are at the forefront.

So, you live in the world of AI and AI and NLP? What is going on these days? And what's it look like going forward?

We've been doing a survey of AI adoption in the enterprise market every year, 'AI Viewpoint: 2022 in Review' and that survey was launched earlier in 2023. We believe that the market has already hit an inflection point and we can see it’s starting to hit critical mass and entering an accelerating growth stage. We call this "Scaling AI." 25% of our survey respondents in 2022 said they were looking to scale AI, so we're expecting to see continued growth in adoption this year. Another thing we're focusing on is AI risk management and best practices, which is crucial for companies operationalizing AI. They need to address bias, privacy, transparency and security. Salesforce is very active in this area and asks the question, "Should we do this AI?" instead of "Can we do this AI?" Lastly, we're interested in the disruption in the AI space caused by  generative AI, which involves creating something new. Examples include automated code development, creating images from text, and training AI models faster.

Is the reason for this astronomical growth that companies are getting success with AI?

It follows the diffusion of innovation model, where early successes from innovators lead to proof points and efficiencies, making it more affordable and accessible for risk-averse companies. Vendors also improve, which helps in faster market adoption.

Is AI typically very competitive, like every other thing in technology, or do companies wait for someone else to do it and then just be a fast follower?

We have talked about the AI gap, and it is still relevant. Companies experience FOMO, just like people do.  Companies don’t want to miss out, and innovators in certain sectors, like financial services, CRM, and retail, are getting ahead while others have to catch up. Companies need to jump on board or risk missing out.

The AI Summit London 2023, hosted at the Tobacco Dock is kicking off day one on June 14 with a keynote on the true measure of AI innovation and it's impact on business, industry and society.  You can also explore sessions that take a deep dive into ‘A Synopsis of the AI landscape and Future Trends',  that look at the way the market is shaping up for 2023 and beyond, as well as exploring ‘Responsible AI: Does Your Model have Trust, Transparency and Security?’  on day two, June 15.

You can also read Mark’s report Generative AI: Market Landscape 2023 to find out more about what 2023 holds for artificial intelligence and the transformative tech landscape.