Live from the Nasdaq Center: The 2024 AI and Automation Trends

This is a podcast episode titled, Live from the Nasdaq Center: The 2024 AI and Automation Trends. The summary for this episode is: <h3>Episode Summary</h3> In this special episode, Markus Zirn is joined by a distinguished panel of AI and automation leaders: Harish Surendranath from Amazon Web Services, Jia Li from LiveX AI, and Jeff Thomas from NASDAQ. They delve deep into the transformational power of advanced AI technologies, exploring how generative AI is altering the landscape of business processes and workforce dynamics. From enhancing customer experiences to supercharging back-office operations, they shine a light on the myriad ways AI is redefining the enterprise world. Tune in to gain top insights into the AI revolution, the rise of generative AI, and how adopting an 'automation mindset' plays a crucial role in staying ahead of the curve. <h3>Timestamps</h3> *(00:00) Episode Start *(04:35) Diving into the growth mindset and the CES Convention *(08:56) LiveX AI’s approach to GenAI  *(13:05) GenAI use cases at AWS *(15:05) Future of Generative AI *(15:43) GenAI at NASDAQ *(20:29) Impact of the new AI transformation wave *(26:56) Democratization of AI *(30:42) AWS’s Approach to AI and its impact on customers *(36:05) Importance of responsible AI and governance *(38:41) Role of AI at NASDAQ *(42:02) Workato's approach to GenAI and the growth mindset *(48:50) Advice on GenAI governance across industries *(56:10) Disruptiveness of AI and its impact on the workforce <h3>Episode Key Takeaways</h3> <ul><li>Generative AI’s potential to revolutionize multiple sectors: Harish hammers home the breadth of generative AI's influence. Reinventing customer experiences and enhancing employee productivity, AI's scope of application is radically diverse and impactful. He offers a glimpse into Amazon's responsible AI strategy and how the tech giant is using custom silicon to enhance the price-performance ratio for AI applications. </li></ul> <ul><li>Generative AI democratizes innovation: Jia highlights the power of generative AI in lowering barriers to entry, and 'augmenting' human capabilities. She shares insights from her work in Google Cloud AI and her current endeavors at LiveX AI, particularly how AI is set to impact the myriad aspects of everyday life. </li></ul> <ul><li>The power of AI in streamlining operations: Jeff underscores NASDAQ's strategic use of AI to augment productivity, foster product innovation, and streamline processes. Emphasizing the importance of staff training and robust governance mechanisms, he points out the key role these factors play in safeguarding trust and ensuring responsible implementation of AI.</li></ul> <h3>Top Quotes</h3> “We think about generative AI in two ways at Nasdaq. One, we think about how we can integrate it in our products. And then the second area is how we can use it on our business. And so, when we think about generative AI in the products, it's how can we change the user experience? How can we change the productivity gains that our customers get out of our products and solutions?” - Jeff Thomas “Right now, given the low barrier to entry for generative AI products. Think of, there is a mom-and-pop shop who are serving their customers and they really want to focus on their business. And in the past, they probably need to spend a lot of time on customer support and sales efforts, et cetera, et cetera. But now, generative AI can actually automate much of this experience so that the repetitive aspects can be reduced and the business owners, or the small team, can serve their customers much better. And it's essentially AI for everyone.” - Jia Li “We are going to see augmentation of productivity and the workforce being more productive thanks to AI. There will be higher value tasks and even higher value than what we are doing today for humans to do and for our AI sort of assistants or co-pilots to kind of help us along the way. So I'm an optimist.” - Harish Surendranath