Deloitte’s recent “GenAI: Ready to tackle tomorrow?” conference on 7 December 2023 featured a global panel of experts who engaged in a thoughtful discussion on various aspects of generative AI, from its practical applications in business to the ethical and legal considerations shaping its societal impact.
“The name of this conference is very intentional. Generative AI, like any new technology, has the ability to disrupt industries and generate competitive advantage for the companies that harness its power,” according to , AI & data leader at Deloitte Luxembourg. “But thoughtful and responsible implementation and governance will be critical to ensuring it benefits both businesses and society at large.”
Griedlich was speaking at Deloitte’s Disrupted/Disrupter Conference last week. During the opening speech, he stated that these advancements are projected to boost global GDP by 7% over a 10-year period. Notably, 58% of European companies are eager to explore its integration into their operations, and 20% of European businesses have already made significant investments in generative AI, according to recent research by the consulting firm.
Jochen Papenbrock, head of financial technology EMEA at Nvidia and a partner of Deloitte, started the series of panel talks by highlighting generative AI’s potential to drive innovation and efficiency, setting the stage for an insightful exploration of the revolutionary capabilities of this cutting-edge technology.
“Obviously, it’s not only ChatGPT. It’s not only human language, but also a number of other data sources that could be used. For example, you could use DNA molecules, proteins, so people are building and discovering new medicine, new drugs, new vaccines, using the large language modelling technology, but with a biological language with the DNA language. Growth based on generative AI is not only human language-based generative AI, but also all these other data sources. A question that is frequently asked about use cases in financial services, for example. So, my personal belief is the sky’s the limit,” Papenbrock stated.
Nicolas Griedlich, artificial intelligence & data partner at Deloitte in Luxembourg, seen speaking at the consulting firm’s Disrupted/Disrupter Conference, 7 December 2023. Photo: Deloitte Luxembourg
An AI-powered sketching tool was shown during Deloitte’s Disrupted/Disrupter Conference, 7 December 2023. Here’s a video of the demonstration.
Video: Dina Jaber/Maison Moderne