BENGALURU: Businesses are transitioning from +AI (Artificial Intelligence) to AI first, and we are ready to help our clients transform their businesses with the power of AI, said Gaurav Sharma, Vice President of IBM India Software Labs.
Speaking at AI Innovation Day, organised by IBM, Sharma claimed that there would not be any decrease in jobs due to AI but the dimension and types of roles required might change.
"I do think a lot of manual tasks like which do not add value may get reduced but newer jobs would increase," he further claimed, adding Prompt engineering is one of the highly paid jobs now.
Prompt engineering has been gaining significance as the engineer tries to improve machine-generated outputs. In its recent report on the economic potential of generative AI, McKinsey said that its latest research estimates that generative AI could add the equivalent of $2.6 trillion to $4.4 trillion annually across the 63 use cases that they analysed—by comparison, the United Kingdom’s entire GDP in 2021 was $3.1 trillion.
Banking, high tech, and life sciences are among the industries that could see the biggest impact as a percentage of their revenues from generative AI, the report added.
Speaking about regulating AI, Sharma said it can be divided into two parts- consumer and enterprise - and regulation will be required for the consumer part and many governments around the world are working on it. "It is because you are using publicly available data and, in many cases, you are using personal data as well," he said.
In the case of enterprise data, it is their own models and they are not giving it out and there could be a lighter set of regulations.
IBM also showcased its latest innovation for enterprises - watsonx - a new AI and data platform, powered by foundation models.
The company also said that watsonx.ai is a next-generation enterprise studio that offers extensive capabilities to train, validate, tune, and deploy machine learning and new generative AI models powered by foundation models through an open and intuitive user interface.