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AI Fosters Creative Generation: Steve McMillan

Translate from : AI fremmer kreativ generation: Steve McMillan

With the rapid development of AI and the opportunities it brings, many fear that it could lead to job losses if AI takes over functions that humans handle today. However, not everyone has such a pessimistic view of the possibilities of AI.

Artificial intelligence (AI) can lead to a generation of creativity, and its adoption across industries will not result in job losses. On the contrary, it will open up an abundance of employment opportunities. Moreover, reliable or harmonized data is the need right now to avoid AI hallucinations, stated Steve McMillan, president and CEO of Teradata in a conversation with financialexpress.com

From an employment perspective, the automotive industry continues to grow and contribute to the world economy, despite the implementation of automation and robotic automation.

"AI has the same opportunity. AI can lead to a generation of creativity. It will enable people to be much more creative, efficient and effective. The effectiveness of AI depends on the purity of data, if you put garbage in, you get garbage out, " McMilan said.

"AI would add $4 trillion to the global economy, and with productivity and efficiency improvements, it would rise to $8 trillion. I think it's a massive opportunity for India as well," he said.

Regarding AI hallucinations, where AI programs produce incorrect output, McMillan said reliable data is the need right now.

"Hallucinations happen when the Gen AI engine is fed wrong or incorrect data. The focus from a Teradata perspective is to ensure what we call harmonized data. While the large language models (LLMs) get a lot of attention today, the real option be for medium and small language models," he added.

Globally, data analytics and AI will top IT spending, followed by cybersecurity and then cloud.

"Cybersecurity has been one of the key spending areas for a chief information officer, while data analytics and AI have just become the number one spending area for organizations. There is also an explosion of growth in cloud," McMillan said.

From Teradata's perspective, the leading industries are banking and financial services, government, transportation, and healthcare. "Additionally, government and healthcare are two industries that really need disruption, just because of the massive amounts of data involved."