Navigating the Future of Data and AI: Insights from Industry Leaders

3 Mins Read 08-05-2024

Submitted by Sayoojya on Wed, 05/08/2024 - 05:25

On May 1st, 2024, industry leaders gathered at the Cork office of Morgan McKinley for an insightful discussion organised by the Morgan McKinley Tech Recruitment Team. The event, titled "The Future of Data and AI," featured a panel of distinguished experts sharing their insights. Here are the key takeaways from the event:

Panellist Insights:

Emerald De Leeuw-Goggin (Global Head of AI Governance and Privacy at Logitech), Francis Flannery (Principal Solutions Architect at AWS) and Emmanuel Adeleke (AI and Data Partner at Deloitte) shared their visions on different aspects of collaboration between different industries on AI development and implementation, emerging trends, challenges, and the AI regulatory landscape. They also spoke on human interaction with AI and how we can interact with AI in a safe manner.

Role of Human Oversight in Advanced AI Systems:

From a management, governance, and legal perspective, there's a consensus on the need for human oversight, especially in highly regulated sectors like finance and legal. The European AI Act emphasises the importance of human involvement due to the risks associated with AI systems.
AI can be run with or without human interaction. Human-in-the-loop systems, where humans are involved on every level, are especially important when it comes to access to employment, or education. Human on the loop refers to having the option for human intervention, where the level of control needs to be proportional to the level of risk. Human out of the loop allows systems to run without invention.
Despite AI's technological advancements, historical context and awareness play a significant role. Understanding AI's capabilities is crucial for leveraging its potential while allowing humans to contribute emotional intelligence.
Addressing bias remains a critical concern, regulated by data. However, AI's ability to leverage new content brings challenges, making it essential to understand and mitigate bias for AI's transformative potential.

Fostering Data Literacy and Ethical AI Practices:

Companies must foster AI literacy among employees of all levels, and not limit it to technical staff. Clear policies addressing risks related to data privacy and intellectual property are essential.
Employee training on policy adherence, understanding AI tools, and their ethical implications is vital. Continuous workforce education and evolution are necessary.
AI literacy is a shared responsibility within an organisation. Training should focus on combating cyber threats, understanding AI capabilities, and extracting value from AI technologies.

Collaboration for Responsible Data and AI Use:

Partnership between academia, industry, and government is crucial for advancing responsible AI use. Academia leads in research on privacy-enhancing and data-minimisation technologies, while industry partnerships drive innovation in responsible AI.
Emerging trends include unlearning data from AI models to address bias and harmful content. Academic research, supported by industry partnerships, plays a significant role in driving innovation in responsible AI.

Emerging Trends in AI for Businesses:

AI-driven solutions enhance customer experience by improving customer support and enabling quicker responses. Businesses are transitioning from experimentation to scaling AI solutions for mainstream adoption, facing challenges such as data management and scalability.
Increasing regulations, such as the European AI Act, emphasise fundamental rights protection and product regulation. Anonymisation and data protection are central to compliance.

In conclusion, the future of data and AI lies in collaborative efforts between academia, industry, and government to ensure responsible use. Fostering AI literacy, addressing bias, and navigating regulatory landscapes are crucial for businesses aiming to capitalise on emerging AI trends while maintaining ethical standards.