Sultan Mahmood is the Global Financial Services leader of artificial intelligence and robotics at PwC. He also leads the development of PwC UK's AI solutions and advises clients across many industries on identifying and delivering business results enabled by disruptive technologies such as AI and robotics. Mahmood was a panelist at the recent Fortune CEO Series event, held at Salesforce's London World Tour. We spent time talking with him about artificial intelligence and the future of work. Salesforce: Artificial intelligence (AI) is a powerful new technology with the capacity to impact on business processes across the organization.
While there are real-world artificial intelligence (AI) applications for enterprises today, there is still much more potential and development for AI, which holds promising benefits for companies in every industry. Still, while there are plenty of compelling arguments for the promise of AI adoption, there are also pitfalls, as well as societal and ethical implications to consider. These technologies blur the traditional boundaries between human and machine while constantly creating new, dynamic business models. Now that we are in the midst of the Fourth Industrial Revolution, companies are defining and implementing the digitalization of industrial processes. New business models are emerging – driven by AI and intelligent machine learning – and collaboration is becoming increasingly important not only between disparate business functions but also different companies.
Digital transformation is no longer just jargon, but is in fact now the new norm that is being adopted by enterprises to thrive in the industry. Utilizing new age technologies like artificial intelligence has become imperative to provide enhanced customer experience. In an interview with DataQuest, Deepak Pargaonkar, vice president, solution engineering, Salesforce, talks about why marketers should adopt new age technologies, how artificial intelligence can boost productivity and hyper-personalization, and much more. Today's marketers face a whole different landscape than their predecessors. As connected customer experiences become standard in customers' minds, marketers are expanding beyond their traditional purviews, tactics, and toolkits to meet expectations.
The emerging technologies of the Fourth Industrial Revolution (4IR) will inevitably transform the world in many ways – some that are desirable and others that are not. The extent to which the benefits are maximized and the risks mitigated will depend on the quality of governance – the rules, norms, standards, incentives, institutions, and other mechanisms that shape the development and deployment of each particular technology. Too often the debate about emerging technologies takes place at the extremes of possible responses: among those who focus intently on the potential gains and others who dwell on the potential dangers. The real challenge lies in navigating between these two poles: building understanding and awareness of the trade-offs and tensions we face, and making informed decisions about how to proceed. This task is becoming more pressing as technological change deepens and accelerates, and as we become more aware of the lagged societal, political and even geopolitical impact of earlier waves of innovation.
It doesn't take a rocket scientist to know that the cutting-edge technologies known as artificial intelligence will transform many U.S. industries. But, it takes a savvy investor to sort through the technology's early possibilities. Even the biggest tech names have yet to see their AI-related revenue growth take off, and the market is still waiting to see any real pure-play AI stock plays. But the rapidly developing technologies are starting to contribute sales to a handful of companies, while driving others to modify their products and technology platforms to tap into AI's possibilities. At a basic level, artificial intelligence is the use of computer algorithms to attempt to replicate the human ability to learn, reason and make decisions.