At the heart of this year's World Economic Forum discussions in Davos was artificial intelligence (AI) and its ethics. The Singapore delegation, headed by Minister for Communications Josephine Teo, consistently argued for prudent governance protecting organisations from AI-related risks. Simultaneously, they acknowledged that AI regulation will likely vary - with some aspects being vital and others possibly being more adaptable to enable AI's massive potential fully.
Sendbird, a global frontrunner in communication APIs and a founding member of the World Economic Forum's AI Governance Alliance, has now offered actionable insights for businesses looking to incorporate AI. Building on the World Economic Forum discussions and their industry expertise, Sendbird aims to help organisations surge forward in the operational efficiency race.
"As an attendee at the World Economic Forum in Davos this year, I got a front-row seat to the evolving narrative around Artificial Intelligence and its impact on the global business landscape," said John Kim, CEO and Co-Founder of Sendbird. He added: "Here's my biggest key takeaway for other business leaders: double down on generative AI to outcompete in the areas of organisational productivity, the speed of communications, and customer engagement."
AI's potential influence on various sectors and the speed of organisational response was among the aspects most significantly underlined in Davos. Projections indicate that AI could generate considerable productivity gains across different industries. Key insights from the event suggest that fast-moving organisations boast superior operational resilience, financial performance, growth and innovation.
The potential of generative AI in enhancing business communication is also brought to light as this technology allows for autonomous conversations between businesses and customers. This dynamic equips businesses to respond quickly to customer inquiries with highly personalised responses and even anticipate customer needs before they arise with no human labour required.
However, the power of generative AI does raise ethical concerns related to safety, trust, and ownership. These issues were discussed at length at the forum, with leaders debating topics like the need for copyrighting prompts and discerning between human-made and machine-generated content. There is a caution about ensuring data privacy and security, avoiding biases in AI algorithms, and accurately managing AI chatbot communications.
"At Sendbird, our R&D team is investigating how to integrate a generative AI solution like our own SmartAssistant into the advanced moderation process of our communications API platform," Kim stated. With a proactive approach to handling concerns about regulation, oversight, and moderation, Sendbird intends to contribute to a safe and positive online interaction environment whilst utilising AI's transformative potential to enhance business communication.