Undoubtedly, AI is the topic of 2023. This makes me think back to 2017 when Advancing AI Wisconsin, a grassroots effort, worked to raise awareness among industry and government leaders on AI’s transformative impact. Fast forward to today, and my 80-year-old mother is asking about AI!
Of course, ChatGPT, Bard, and other generative AI platforms were catalysts for the conversation. AI has been democratized so that it can be utilized by all – high schoolers, software developers, creators, hackers and executives have equal access.
Why is this critical? In 2018, McKinsey & Company estimated that by 2030 companies that are early adopters of AI would grow 2x faster than average and those who did not adopt would shrink by 20%. In 2023, McKinsey reported that the timeframe of this impact has accelerated due to generative AI with 60% of the impact coming from just four areas of customer operations, marketing, sales, software engineering and R&D.
In recent events, speakers made key points which are validated by research:
Thankfully, as a region, we have been building capability in AI:
However, even as we build out our AI capabilities as a region, we need to move even faster to maintain global competitiveness. Please anticipate additional offerings on AI from the MKE Tech Hub Coalition in the second half of the year!
From the July 2023 MKETech newsletter