“100 years ago, electricity transformed every industry. AI is bringing about just as big a change.”

Andrew Ng, a professor at Stanford University within the US, one in every of the ‘4 Kings’ of artificial intelligence (AI), gave an invited lecture on the twentieth on the ‘Data Science Day’ hosted by Seoul National University’s Graduate School of Data Science.

On at the present time, Professor Andrew Ng explained intimately the brand new business opportunities brought by generative AI under the theme of ‘Opportunities in AI’.

Initially, he said that since AI is a general-purpose technology, it might be used for various tasks and create various values. So, he said that the essential task is to seek out a meaningful use case.

In fact, he warned that there will likely be cases like Rensa AI. Lensa is an incredible idea, nevertheless it’s an example of a business that did not last long since it was a really thin and easy layer of software.

Even when Steve Jobs introduced the iPhone, paid apps that turned on LED flashlights were popular within the early days, but soon disappeared.

In other words, he emphasized that for commercialization, services that transcend ‘good ideas’ and are ‘deep and difficult for others to follow’ are needed.

Prof. Ng said that the brand new opportunity created by generative AI is what excites him. A possibility to construct a business or product with depth that might have a long-lasting impact has arisen, he said. He explained that the main focus needs to be on the proven fact that plenty of work stays to be done to discover and construct specific use cases.

Second, I explained why AI will not be yet more widely used.

He identified that although people have been talking about AI for over 10 years, the worth remains to be concentrated in big tech resembling Google, Microsoft, and Facebook, and corporations resembling Kakao and Naver. Nonetheless, there will not be that many operators who actually use AI, and explained the rationale by showing the graph below.

When all potential AI projects are sorted, the high-value services are concentrated in projects resembling internet marketing, web search, and online shopping product suggestion. Such a project can create enormous value with one software, nevertheless it is inconceivable apart from some corporations which have gathered tens of tens of millions or tons of of tens of millions of users.

So Professor Ng said he has been working on other sorts of projects. In other words, it’s a field situated on the correct side of the graph, and although the person value will not be large, it’s a project that will be refrained from big tech by hundreds or tens of hundreds. It’s explained that if you happen to add all of those ‘5 million dollar projects’, you’ll be able to hop over Big Tech’s ‘tons of of tens of millions of dollars project’.

Nonetheless, there was no technique to proceed with all of the various $5 million projects, and with the arrival of generative AI, everyone had a possibility to create tools with no code, he explained. Due to this fact, it was emphasized that AI is a general-purpose technology.

He also explained that these tools made it possible to use AI, which was only used on the Web, to varied industries.

He also revealed his opinion on AI ethics and regulations, that are currently hot topics. Here, unlike many experts who say that AI development needs to be slowed down, it drew attention by saying that the event speed needs to be increased quite the opposite.

Regarding ‘general artificial intelligence (AGI)’, wherein AI completely surpasses human level, he said, “Possibly it can be possible in 30, 40, or 50 years.” He said, “It remains to be too early to assume that AI will harm humans.” “As well as, AI cannot develop rapidly overnight, and within the meantime, humans and corporations will develop while finding ways to manage it.”

Here, “AI can slightly be a crucial solution to epidemics, large-scale meteorites, and climate change that threaten the survival of mankind.”

He also said that AI has a unique aspect from existing automation recent technologies. In other words, existing technologies are inclined to disrupt low-wage, low-wage jobs, but AI threatens high-wage jobs. He emphasized that AI creates tremendous value, but care have to be taken to be certain that people will not be harmed by it.

Lastly, Professor Ng left a greeting about Korea. “I’m excited to be here because I believe Korea has tremendous drive and fervour for AI, and I hope we will do it together,” he said.

As well as, through the meeting, he said, “Korea is meeting all of the conditions to turn into an AI powerhouse in Asia, from semiconductors to software,” and “I hope to be given the chance to work with Korean corporations.”

Meanwhile, Professor Eung visited Naver and Kakao within the afternoon after ending his Seoul National University schedule and exchanged opinions with officials.

Reporter Juyoung Lee juyoung09@aitimes.com