but at the same time do it in a way that's safe and in a way that the end customer understands what
they're actually doing?"
04:52
Amna Nawaz
You've raised so many important points we're going to pull apart over the course of this
conversation in more detail, but I wanted to put to you this issue that Simon raised about the sort of
a slower adaptation here in terms of being a slow follower versus an early adapter. One of the things
I've certainly heard from tech leaders in particular is, if you're not sort of first in the space, then you
risk losing the race. That seems not to be the case when it comes to implementing AI and business
practices. Is that fair to say?
05:22
Michael Kratsios
To me, I think it's very industry and use case specific. So, there are certain industries that sort of
have been shaken to their core with the advent of ChatGPT and the reality that their entire sort of
business model is threatened because of it. Take, for example, the world of EdTech, when you used
to be able to sort of go online and use a number of educational services to be tutored, those have
now seen a pretty massive decline in usage in just the few months that came after ChatGPT came
out. So, I think in areas like that, we're seeing some pretty quick adoption because they realize that
something needs to be done in order to not be left behind. So, I think it's very use case and industry
specific. I think in some places there's a lot of pressure to move ahead very quickly. In other
industries, I think especially in sort of highly regulated industries, in places like financial services or
healthcare, rightfully so, there's a lot of care being taken and ultimately, I think, being slower
adopters.
06:24
Amna Nawaz
Simon, Michael uses the phrase shaken to their core for certain industries. I wonder if you've heard
that reflected from some specific leaders and what specifically that means?
06:34
Simon Freakley
I think absolutely. Many of us, I think, realized that there was an asteroid somewhere out in space,
many millions of light years away, and that in our common consciousness, that AI was growing and
what we used to call machine learning was growing into something more and bigger. And then all of
a sudden, we looked up and saw in the sky this planet killer that was about to hit us and the impact
on the common consciousness of what generative AI, as of course demonstrated by ChatGPT hitting
so dramatically, so fast, I think became something that was an extraordinary impact on all of us.
What could this do to every aspect of our lives, not just our businesses? Will jobs as we understand
them exist in the future? Will the dark side of AI take over? Lots of speculation, of course, about
that.
So, I think maybe because ChatGPT had such an extraordinary and dramatic impact on the common
consciousness with its release, I think the most adopted app ever, people suddenly realized the
reality of this and that it was here and now. And so, for all of us in our personal lives, in our business
lives, it's been a topic of conversation, the thought that everything will be reimagined. So, yes, I think
looking at it through a business lens, I think every single business leader around the world is thinking