Liwaiwai Liwaiwai
  • /
  • Artificial Intelligence
  • Machine Learning
  • Robotics
  • Engineering
    • Architecture
    • Design
    • Software
    • Hybrid Cloud
    • Data
  • About
  • /
  • Artificial Intelligence
  • Machine Learning
  • Robotics
  • Engineering
    • Architecture
    • Design
    • Software
    • Hybrid Cloud
    • Data
  • About
Liwaiwai Liwaiwai
  • /
  • Artificial Intelligence
  • Machine Learning
  • Robotics
  • Engineering
    • Architecture
    • Design
    • Software
    • Hybrid Cloud
    • Data
  • About
  • Artificial Intelligence

Can Artificial Intelligence Help Society As Much As It Helps Business?

  • August 31, 2019
  • admin

Artificial intelligence (AI) greatly changed the way businesses operate. With  hiring processes, workplaces, and even decisions optimized or automated, the technology has been great for corporate entities.

On the flip side, we hear in the news issues such as data breaches, unemployment, and security risks. You are then left wondering whether AI can benefit more than just businesses.


Partner with liwaiwai.com
for your next big idea.
Let us know here.


cyberpogo

In their recent article, McKinsey says this is possible — only if leaders will embrace technological social responsibility (TSR) as an imperative in businesses.

What is TSR?

McKinsey defines TSR as, “a conscious alignment between short- and medium-term business goals and longer-term societal ones.”

They also stated that this involves the alignment of business and social interest along two axes: innovation focus and active transition management.

Axes of innovation focus and innovation management, Adapted from “Can artificial intelligence help society as much as it helps business?”, by McKinsey Quarterly, 2019, retrieved from https://www.mckinsey.com/

In this diagram, we see that focusing only on one area could adversely affect the growth of the company or well-being of the workforce.

Therefore, both of these factors must be given attention: there should be a proactive technology transition management paired with a culture of innovation.

Actionable steps

McKinsey also specified three priorities to promote the integration of TSR in corporations:

  • Business leaders should understand that proactive technology transition management is a win-win situation for them. It will not only equip employees to be competent in handling AI tech. It will also serve beneficial to them from a financial standpoint, since the full potential of AI technologies are reached.
  • Digital reinvention plans should have a strong workforce-management strategy to go with it. Training, retraining, and nurturing employees will ensure that the dynamic between them and the new AI technology is well-established. This will let companies reap double the benefits — a productive workforce and high-end innovations to complement the latter.
  • They should embrace farsighted partnerships for social good. An example would be partnering with the education sector to shape curricula so that the future workforce will fit the skill sets they require for digital roles. This will accelerate the search for talent. Investing on R&D and innovation will also serve both tech companies and the society well.
Read More  Can Businesses Help Build Trustworthy And Accurate Generative AI?

With all the things that it could bring to the table, we see that the need for  establishing TSR as an imperative is only becoming more important as all these innovations in the AI industry are pouring down on us.


Our humans need coffee too! Your support is highly appreciated, thank you!

admin

Related Topics
  • Business
  • Society
  • Technological Social Responsibility
You May Also Like
View Post
  • Artificial Intelligence

Introducing 100K Context Windows

  • May 30, 2023
View Post
  • Architecture
  • Artificial Intelligence
  • Design

Sandvik unveils the Impossible Statue – an AI-enabled collaboration between Michelangelo, Rodin, Kollwitz, Kotaro, Savage and Sandvik

  • May 30, 2023
View Post
  • Artificial Intelligence

How Auditoria.AI Is Building AI-Powered Smart Assistants For Finance Teams

  • May 29, 2023
View Post
  • Artificial Intelligence
  • Technology

AI Coming To The PC At Scale

  • May 27, 2023
View Post
  • Artificial Intelligence
  • Platforms

Build Next-Generation, AI-Powered Applications On Microsoft Azure

  • May 26, 2023
View Post
  • Artificial Intelligence
  • Data
  • Machine Learning

Faster Together: How Dun & Bradstreet Datasets Accelerate Your Real-Time Insights

  • May 24, 2023
View Post
  • Artificial Intelligence

Wipro Expands Google Cloud Partnership To Advance Enterprise Adoption Of Generative AI

  • May 23, 2023
View Post
  • Artificial Intelligence
  • Programming

How To Build An AI-generated Procedural Application

  • May 22, 2023

Leave a Reply

Your email address will not be published. Required fields are marked *

Stay Connected!
LATEST
  • 1
    Introducing 100K Context Windows
    • May 30, 2023
  • 2
    Sandvik unveils the Impossible Statue – an AI-enabled collaboration between Michelangelo, Rodin, Kollwitz, Kotaro, Savage and Sandvik
    • May 30, 2023
  • 3
    Effective Management Of Data Sources In Machine Learning
    • May 29, 2023
  • 4
    How Auditoria.AI Is Building AI-Powered Smart Assistants For Finance Teams
    • May 29, 2023
  • 5
    G7 2023: The Real Threat To The World Order Is Hypocrisy.
    • May 28, 2023
  • 6
    AI Coming To The PC At Scale
    • May 27, 2023
  • 7
    Build Next-Generation, AI-Powered Applications On Microsoft Azure
    • May 26, 2023
  • 8
    Faster Together: How Dun & Bradstreet Datasets Accelerate Your Real-Time Insights
    • May 24, 2023
  • 9
    5 Skills Every Successful MLOps Engineer Should Have
    • May 24, 2023
  • 10
    London & UK Is The Best For International Students! You Have Been Warned.
    • May 23, 2023

about
About
Hello World!

We are liwaiwai.com. Created by programmers for programmers.

Our site aims to provide materials, guides, programming how-tos, and resources relating to artificial intelligence, machine learning and the likes.

We would like to hear from you.

If you have any questions, enquiries or would like to sponsor content, kindly reach out to us at:

[email protected]

Live long & prosper!
Most Popular
  • 1
    Wipro Expands Google Cloud Partnership To Advance Enterprise Adoption Of Generative AI
    • May 23, 2023
  • 2
    Google Cloud Launches AI-Powered Solutions To Safely Accelerate Drug Discovery And Precision Medicine
    • May 16, 2023
  • 3
    Huawei And Partners Announce Yucatan Wildlife Conservation Findings
    • May 18, 2023
  • 4
    Cloudflare’s R2 Is The Infrastructure Powering Leading AI Companies
    • May 16, 2023
  • 5
    TCS Announces Generative AI Partnership With Google Cloud And New Offering For Enterprise Customers
    • May 22, 2023
  • /
  • Artificial Intelligence
  • Explore
  • About
  • Contact Us

Input your search keywords and press Enter.