Artificial intelligence (AI) took off in some inspiring new directions over the past year, from chatbots using conversational AI to algorithms that can identify abnormalities in patient x-rays. Here, retail executives, market analysts, and industry experts share some interesting quotes about artificial intelligence.
“Technology is going to disrupt the future of work, perhaps sooner than we thought. We are exploring everything from AI to VR, but we see no substitute to our stores and our employees. We focus on building talent and personal service.”
— Brian Cornell, Board Chairman, CEO, Target at NRF 2019
“Firms will address the pragmatic side of AI now that they have a better understanding of the challenges and embrace the idea that ‘no pain means no AI gain.’ The AI reality is here. Firms are starting to recognize what it is and isn’t…and they are seeing the real challenges of AI versus what they assumed the challenges would be.”
Retail leads the pack
The retail industry was expected to invest an estimated $3.4 billion in artificial intelligence in 2018, outpacing all other industries, according to International Data Corporation (IDC).
On AI’s knowledge
“AI is good at describing the world as it is today with all of its biases, but it does not know how the world should be.”
— Joanne Chen, Partner, Foundation Capital, at SXSW 2018
AI’s impact on IT jobs
“This is not going to be less people in IT. I frankly believe there will actually be more people in IT, but more people in IT working on a different set of tasks…Everyone needs a boss, including bots.”
– Mark Hurd, CEO, Oracle at Oracle OpenWorld 2018.
Budgets for every wallet
“It no longer requires a multi-million dollar budget to get AI going in your company. It represents an opportunity to level the playing field for smaller companies.”
— Nichole Jordan, managing partner, Grant Thornton LLP, during the MIT Summit, AI and the Future of Work
Making a connection
“Combined with edge computing and big data, as well as the ability to harness the enhanced connectivity of 5G, AI will bring each aspect of our lives into a seamless connected experience. Your home will know what kind of day you had in the office and will roll out the welcome mat by preparing the perfect environment for when you walk in the door.”
— Jo Seong-jin, Chief Executive Officer, LG, at IFA 2018
With great power comes great responsibility
“Digital workplace leaders will proactively implement AI-based technologies such as virtual assistants or other NLP-based conversational agents and robots to support and augment employees’ tasks and productivity. However, the AI agents must be properly monitored to prevent digital harassment and frustrating user experiences.”
— Helen Poitevin, senior research director, Gartner
The great equalizer
“Bridging the digital divide through AI, machine learning, and other emerging technologies will help all Americans benefit from the digital revolution, regardless of who they are or where they live. That is something every citizen can appreciate.”
— Ajit Pai, FCC Chairman, at FCC Forum On Artificial Intelligence And Machine Learning
A friend indeed
“AI can be our friend.”
— Bill Gates, Microsoft co-founder, at Hunter College in New York City
AI can augment many types of business experiences and these quotes about artificial intelligence may help spark other innovative use cases. Understanding the potential and practicality of AI may also help organizations create a more profitable business strategy.