Advances in artificial intelligence are one of the biggest topics of 2023 and will continue to be a trending topic in 2024. As part of Yahoo Finance's exclusive coverage from the World Economic Forum in Davos, Switzerland, Yahoo Finance's Julie Hyman and Brian Sozzi spoke with notable speakers. Industry leaders and top executives discuss his AI advances and expectations for the year ahead.
Advances in artificial intelligence, particularly generative AI, have had a significant impact on the work of the Bill & Melinda Gates Foundation. “We found this to be a real productivity improvement,” explained Bill Gates, former Microsoft (MSFT) president and CEO. “Similarly, for programmers he sees productivity increases of 40-50%, which means they get their programs out faster. They make their programs higher quality and better. can do.”
Nasdaq (NDAQ) CEO and President Adena Friedman analyzed the impact of AI on new companies entering the market. “I have to say it's a very exciting time because any company can benefit from this next-generation technology,” Friedman said. I think there's potential. So I think the companies that help unlock that potential are the ones that a lot of investors are looking at.”
Bank of America (BAC) CEO Brian Moynihan shared his thoughts on AI applications. Moynihan said, “We absolutely believe this will have a huge impact…We need the ability to translate processes into technology through language models and learning models. That means we have to.”
The popularity of generative AI will impact companies like Verizon Communications (VZ), which controls wireless networks that transmit large amounts of data. “At the edge of the network, I think it's going to be very important for AI to quickly make decisions that are very close to the ultimate view of the customer and the business,” said Verizon Chairman and CEO Hans Vestberg. That’s how we build.” It's our network. ”
Novartis (NVS) recently announced a partnership with Alphabet (GOOG, GOOGL). He also has an existing partnership with Microsoft, leveraging the company's AI platform. “To accelerate how quickly we can bring new medicines to the clinic, we have developed an approach called generative chemistry, which is truly novel and innovative,” said Vasant Narasimhan, CEO of Novartis. We will open up new horizons.''
Cisco (CSCO) CEO Chuck Robbins spoke about the trajectory of AI and its impact on the entire industry. “I think the companies that figure out how to create value-based capabilities that allow end users to leverage the data they have will win,” Robbins said.
Salesforce (CRM) CEO Marc Benioff believes there will be an AI workforce someday, but we're not there yet. Benioff said: “There's no question that the digital workforce is where AI is headed. That's not the place for AI in today's world. We know AI still has a lot of problems. ” he said.
Cristiano Amon, CEO of Qualcomm (QCOM), explained the current state of the semiconductor sector in light of the rapid increase in demand for AI. Amon explained, “It's very exciting that we've done something so unique. We can run these large language models on a mobile phone, and we can run them very fast.”
Microsoft has plans to expand its AI capabilities. Brad Smith, vice chairman and president of Microsoft, said: “I think this is one of those technologies that lives up to the impact that people expect…This is likely to be a technology that will define our entire lives, and it definitely will.'' I definitely think so over the last 10 years, without a doubt.”
Tom Siebel, founder, chairman, and CEO of C3.ai (AI), spoke about his excitement for AI products as more companies pivot to this space. “Generative AI changes everything. It fundamentally changes the nature of the human-computer interface associated with enterprise application software. This is a big deal,” Siebel said.
Williams-Sonoma (WSM) leverages AI for email marketing and supply chain optimization. “We believe there are significant benefits to be gained by optimizing the supply chain side,” said Laura Alber, CEO of Williams-Sonoma. You can do that,” he explained.
Grammy Award-winning musician and entrepreneur will.i.am has announced a new radio show he will co-host with his AI co-host. Will.i.am explained, “This is trained on information from the world…and I think that's the way to truly educate people about where we are.” .
Video highlights:
00:00:03 – Bill Gates
00:00:22 – Adena Friedman, CEO and President, Nasdaq
00:00:38 – Bank of America CEO Brian Moynihan
00:00:58 – Verizon Chairman and CEO Hans Bestberg
00:01:11 – Novartis CEO Vasant Narasimhan
00:01:32 – Cisco CEO Chuck Robbins
00:01:48 – Salesforce CEO Marc Benioff
00:02:02 – Qualcomm CEO Cristiano Amon
00:02:26 – Microsoft Vice Chairman and President Brad Smith
00:02:47 – C3.ai Founder, Chairman, and CEO Tom Siebel
00:03:02 – Williams Sonoma CEO Laura Alber
00:03:19 – Will.i.am
