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AI Adoption Is On The Rise

It’s too early to quantify the economic impact of the global COVID-19 pandemic, but because of this outbreak compounded with the U.S.-China trade war, global supply chains and businesses linked to the world’s second-biggest economy are being impacted. As I sit here in Singapore and monitoring the spread of the outbreak in Asia and beyond, the mounting human cost is also especially of deep concern to me.

But even amid adversity comes the opportunity for innovation and invention. Chinese tech companies Alibaba, Tencent and Baidu have opened their artificial intelligence (AI) and cloud computing technologies to researchers to quicken the development of virus drugs and vaccines. U.S.-based medical startups are using AI to rapidly identify thousands of new molecules that could be turned into potential cures. Yet another is using the same technology for early warning and detection by analyzing global airline ticketing data.

This has all served as a reminder for me, an AI founder, of the immense potential of AI for improving efficiency, growth and productivity. AI-enabled automation can really make a difference for traditional services and offline businesses transitioning to digital and online channels.

If increasing productivity while lowering cost is vital for your business, then you might benefit from taking another look at these particular areas where AI can really help: automating processes, gaining customer and competitive insight through data and improving customer and employee engagement.

The original article can be found here.

According to the impact of AI to world society, Michael Dukakis Institute for Leadership and Innovation (MDI) established the Artificial Intelligence World Society Innovation Network (AIWS.net) to monitor AI developments and uses by governments, corporations, and non-profit organizations to assess whether they comply with the norms and standards codified in the AIWS Social Contract 2020.