In this episode of Good Revenue, host Neeta Bidwai and returning guest Joyce Chung have a thought-provoking discussion about the implications of AI, covering economics, ethics, and future trends.

The conversation covers:

• Generative AI’s economic impact on global growth

• Ethical concerns, including data privacy and the need for federal privacy statutes and independent audits

• AI’s impact on consulting firms and skepticism around optimistic projections

• Real-world applications and limitations of AI tools

• AI’s potential to reshape the job market, emphasizing the need for up-skilling and re-skilling

• AI-driven business transformation, using examples like Salesforce and Morgan Stanley’s AI assistant

• Risks of over-reliance on AI, including loss of human touch, biases, and energy consumption

• Predictions for AI advancements in 2025

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Where to find Joyce:

https://www.linkedin.com/in/joycechung1/

Where to find Neeta:

https://www.linkedin.com/in/neetabidwai/

Where to find Good Revenue:

https://goodrevenue.io/goodrevenue

https://www.youtube.com/channel/UCHrhuWbpYnUwrR75H2Ip4yQ

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Highlights:

00:00 Introduction and Guest Welcome

01:03 Diving into AI's Economic Impact

03:39 Debating AI's Role in Consulting

06:21 AI's Influence on Innovation and Creativity

10:59 AI in Business and SaaS Disruption

16:22 Privacy, Data Sharing, and Future of AI

20:26 Data Privacy and AI: A Growing Concern

20:53 Skepticism and Trust in AI

22:21 Energy Consumption and AI

23:22 Corporate Responsibility and AI

28:43 AI's Impact on Employment and Skills

36:24 Future Predictions

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Referenced:

• McKinsey's extremely optimistic predictions for AI's economic impact: https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/the-economic-potential-of-generative-ai-the-next-productivity-frontier#

• MIT: AI economic projections are all over the place: https://futuretech.mit.edu/news/putting-the-economic-impact-of-genai-into-scale

• Satya Nadella: https://www.youtube.com/watch?v=9NtsnzRFJ_o

• Adam Grant & Sam Altman: https://www.ted.com/talks/rethinking_with_adam_grant_sam_altman_on_the_future_of_ai_and_humanity

• AI & energy usage / predictions: https://www.youtube.com/watch?v=3yDV_VMvFQc

• AI & patents: https://aidantr.github.io/files/AI_innovation.pdf

• More references: https://youtu.be/Sql6at0D0wk

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Wes Postlethwaite - Building Your Business WIth Client Events