AICD speech Innovation and AI

On June 4, 2024 I spoke at Australian Institute of Company Directors Geelong Director’s Briefing.

I spoke on the topic of "Innovating for the Future” alongside Kate Cornick, CEO LaunchVic and Bahareh Nakisa, PhD, Co-founder and Director, AIHUB - with the event a sell out.

Here is the speech I delivered.

I’m here tonight to talk about innovation and artificial intelligence.

I believe we are at a crucial intersection in history.

Globally and locally we are faced with extraordinary challenges and equally extraordinary opportunities. As we navigate the turbulent waters of economic instability, global conflicts, housing crises, and the lingering effects of a once-in-a-century pandemic, we are also simultaneously, witnessing the rise of a transformative force—artificial intelligence.

As directors, we are asked to inform strategy and assess risk.  We need to have an eye on external factors that can affect the organisations we govern and think through the impacts and opportunities presented. Artificial intelligence is not just a new technology. It is an all-encompassing part of our existence in a digital world and we need to be informed and continue to ask questions.

In Australia, we have ridden economic booms through the bounty of natural resources for a long time. What we have struggled to do is identify, support and nurture innovation and the creativity of our people and leverage the benefits of technology. The biggest companies that have emerged globally since the advent of personal computing and the internet such as Apple, Microsoft, Google and Amazon are now challenging heritage industries in energy, retailing and mining. These newer enterprises are all based on innovations in technology, human ingenuity and design.

The next massive global organisations to be created will no doubt be leveraging the power of artificial intelligence.

In a blog post, Microsoft co-founder Bill Gates said that the development of artificial intelligence is the most important technological advance in decades.

Gates said “AI is as fundamental as the creation of the microprocessor, the personal computer, the Internet, and the mobile phone. It will change the way people work, learn, travel, get health care, and communicate with each other."

So what is AI?

Artificial intelligence is the ability of a digital computer or computer-controlled robot to perform tasks commonly associated with intelligent beings.

These tasks include reasoning, discovering meaning, generalising, and learning from past experiences. 

Some AI programs have achieved performance levels comparable to human experts and professionals in specific tasks, leading to applications in fields like medical diagnosis, law, computer search engines, voice or handwriting recognition, and administration.

In summary, AI enables computers and machines to simulate human intelligence and problem-solving capabilities. Simulate is the key concept to be remembered here.

I was talking about AI with a start-up entrepreneur recently and she said – if her staff weren’t using AI in their role - they aren’t being as productive as they could be and effectively aren’t doing their job. This includes using AI to help draft text for marketing, reporting or general analysis.

While you need to provide the key concepts and include relevant, well thought out ideas, AI can efficiently produce a range of outputs for human review and refinement.  Artificial intelligence and its real use application in our daily lives no longer inhabits the world of science fiction. This has been true for several years as we have become accustomed to digital voice assistants such as Siri and Alexa.  Right now, you can see AI being activated in web search engines, in Microsoft applications, organisational chat bots and in social media. Facebook now has a Meta AI function in Messenger that allows for image generation. I’ve used this to assist with the creation of images for reference photos that not easily produced in a physical photo shoot - all in a matter of seconds.

On one hand, AI offers remarkable potential to enhance productivity, streamline processes, and address complex problems across various sectors. It has the capacity to support a multitude of work functions, from automating routine tasks to providing sophisticated analytical insights. However, this is not without its challenges and concerns.

One of the most pressing issues is the inherent bias embedded within AI systems. These biases can arise from the data used to train AI, which often reflects the prejudices and inequalities present in our society.

One such implication is that any current bias or inequality we already see in our world may only be exacerbated. Experts in the AI have claimed that AI bias goes well beyond gender and race.

AI researchers are primarily people who are male, who come from certain racial demographics, who grew up in high socioeconomic areas and are primarily people without disabilities. They are a fairly homogeneous population which makes it difficult to think broadly about world issues.

Again to reference Bill Gates - he understands this inherent bias and said that market forces won't naturally produce AI products and services that help those most in need.

According to Gates - the opposite is more likely. With reliable funding and the right policies, governments and philanthropy can ensure that artificial intelligence is used to reduce inequity. Just as the world needs its brightest people focused on its biggest problems, we will need to focus the world's best AIs on its biggest problems," Gates said.

This raises a critical question: Will the benefits of AI be equitably distributed, or will they primarily serve those who already wield significant economic and political power?

Recently, the Australian Government took a significant step by signing an accord on artificial intelligence in South Korea. The ministerial statement was signed by 27 countries; it is a non-binding agreement that AI development must be safety-led, with egalitarian principles at the heart of innovation.

With large language models particularly susceptible to human prejudices, the ministers agreed the public interest potential of AI needs to be put front a centre to prevent a dystopian future.

In essence - this accord aims to establish guidelines and principles for the ethical development and deployment of AI technologies.

It is a commendable move, reflecting a recognition of the need for international cooperation and oversight to ensure that AI serves the broader good. However, it is essential that we remain vigilant and proactive in addressing the potential for AI to entrench existing power structures.

The Australian Government’s Science and Industry Minister Ed Husic just last week unveiled a long-planned National Robotics Strategy in Sydney. Minister Husic ties the strategy to the Future Made in Australia policies, saying the country must start making and adopting more up-to-date AI-infused robotics to boost flagging productivity, and provide people with secure, well-paid jobs in the long term.

He said “We are at an inflection point in the history of robotics. The combination of AI and robotics means these systems are becoming more adaptable and more autonomous.”

For the sake of workers whose future relies on us anticipating and supporting new markets and new industries, we need to carve out our own role in the next great wave of automation.”

As I said earlier, we are at a crucial intersection in our history. Australia doesn’t have a great track record of supporting innovation and creativity. We need to decide what to do now and how we will work with each other.

In a post pandemic world – we also find the traditional workplace in flux - disrupted by the rise of flexible and remote work. While these new modes of working offer unprecedented flexibility, they also pose challenges to collaboration and creativity.

Innovation thrives on the exchange of ideas, the serendipitous encounters, and the dynamic interactions that often occur in shared physical spaces. Yet, the shift to remote work can fragment these interactions, potentially stifling the creative processes essential for groundbreaking innovations.

To leverage the opportunities presented by AI, we must reimagine the workplace. We need to create environments that foster both individual focus and collective creativity. This requires not only physical spaces designed to inspire but also organisational cultures that prioritise and protect time for deep thinking and collaborative engagement. It is a delicate balance, but one that is crucial for nurturing the ingenuity and creativity that will drive the next wave of innovation.

As I wrote recently in the Geelong Advertiser:

Innovation is not a switch that can be flipped on demand. It comes from a subtle dance of ideas that dwell in the quiet corners of our minds, rather than in the glare of a conference room and PowerPoint slides. True innovation emerges as we seek to improve situations, drawing from a reservoir of thoughts and insights accumulated over time. This process demands a particular mental state—one that is open, relaxed, and free from undue pressure. 

It is my view that to be innovative, individuals and teams must be granted the headspace to tap into their creativity. Downtime and quiet moments are not indulgences; they are critical to the creative process.

For organisations that want to find innovative, creative solutions, the work environment needs to far more flexible. This means cultivating spaces—both physical and temporal—where employees can step back from their immediate tasks and immerse themselves in thought. It means recognising that the best ideas often come when we least expect them: during a quiet walk, a leisurely conversation, or even in those moments just before sleep.

Unfortunately, many workplaces fail to create the space and time needed to support people to pave the way for genuine innovation.

With the hope that AI can take on more tasks in the workplace – isn’t it a natural progression to provide humans with more time to think and be, well, human?

As we stand on the cusp of a new era, it is imperative that we embrace and cultivate the qualities that distinguish us from machines—our creativity, our intuition, our empathy.  These human abilities are not just complementary to technological advancements; they are essential for guiding and harnessing the power of these advancements in ways that are meaningful and beneficial.

The industrial and digital revolutions have brought us to this point where it is our time to shine. We must see ourselves not as mere operators of machines but as the architects of a future where technology enhances human potential rather than diminishes it.

In conclusion, the current chaos we face, from economic instability to the rapid evolution of AI, presents both a challenge and an opportunity. By addressing the ethical implications of AI, reimagining the workplace for optimal creativity, and embracing our human uniqueness, we can navigate this tumultuous landscape and emerge stronger and more innovative.

Let us seize this moment to shape a future where technology serves humanity and our collective potential is fully realised because, I believe, our very human uniqueness is our greatest asset.