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    Adrian's Angle: How AI is Reshaping Industries and Shaping Our Future

    An AI Revolution is transforming industries, enhancing healthcare, marketing, and sustainability while ensuring data privacy and creating new jobs.

    Anonymous
    10 min read30 September 2024
    AI in Asia

    AI Snapshot

    The TL;DR: what matters, fast.

    AI is driving a new industrial revolution by enhancing efficiency, accuracy, and innovation across various sectors.

    In healthcare, AI is improving diagnostics and drug discovery, while in sales and marketing, it is enabling highly personalized consumer experiences.

    The responsible application of AI is crucial, with examples like SQREEM leveraging behavioral trends without PII and Google using AI for flood forecasting to save lives.

    Who should pay attention: Founders | Marketers | Healthcare professionals

    What changes next: Debate is likely to intensify regarding AI's societal impact.

    TL/DR

    AI is solving complex problems like flood forecasting and accelerating drug discovery, with Google's AI system saving lives in India.,AI is transforming healthcare, with studies showing it outperforms humans in diagnosing breast cancer.,In sales and marketing, AI recommendation engines drive significant revenue, such as 35% of Amazon's sales.

    I recently had the opportunity to participate on a panel with some of the brightest minds in AI and data science in Asia. Having worked in the tech and marketing world for over 25 years across multiple continents, I’ve seen firsthand how AI is transforming industries, both big and small. From healthcare to marketing, AI’s impact is growing rapidly. Here’s my take on what’s happening and some of what’s coming next.

    AI: The New Industrial Revolution

    We’re in the midst of what feels like a new industrial revolution, led by AI. It’s driving progress in efficiency, accuracy, and innovation. Two sectors where AI is making big moves are healthcare and sales & marketing.

    In healthcare, AI is already outperforming humans in key areas. A recent study showed that AI could diagnose breast cancer from mammograms more accurately than radiologists. AI is also speeding up drug discovery, creating personalised treatments, and even guiding robotic surgeries. Another example is IBM’s Watson Health, which uses AI to assist doctors in developing personalised treatment plans for cancer patients. The next decade promises even bigger breakthroughs—could we see more diseases cured or even visit AI-powered doctors?

    On the business side, AI is transforming sales and marketing.

    Take Amazon, for example—their AI recommendation engine now drives 35% of all their sales, according to McKinsey. Tweet

    That’s massive. Personalised recommendations are just the beginning; soon, companies may be selling only what people truly need, reducing waste and optimising resources. Another major example is Netflix, which uses AI to recommend shows and films to users, tailoring suggestions based on viewing history. This kind of personalisation is driving massive engagement.

    Responsible Use of AI: Getting It Right

    With all the excitement around AI, it’s critical to make sure we’re using it responsibly. At SQREEM, for instance, we focus on leveraging AI without relying on cookies or personally identifiable information (PII). Instead, we analyse behavioural trends to create high-value audiences, which brands can target across most digital marketing channels through their tech stack of choice (e.g. DV360, theTradedesk, etc).

    This allows SQREEM to help deliver relevant insights and high performing media campaigns while still respecting privacy.Tweet

    And it highlights an important balance: using AI’s power while ensuring data privacy and accountability.

    With growing concerns over data misuse, companies need to be upfront about how they handle information and make sure AI is used in a way that benefits everyone.Tweet

    AI is Solving Big Problems in Unexpected Ways

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    One of the most exciting things about AI is how it’s solving complex problems in ways we hadn’t imagined.

    For example, Google’s AI-powered flood forecasting system in India provides real-time warnings to millions, saving lives and protecting property. It’s an impressive example of AI being used to tackle climate-related challenges.

    In drug discovery, AI-driven platforms such as BenevolentAI and Insilico Medicine have accelerated the development of new treatments.

    During the COVID-19 pandemic, AI was used to identify potential drugs in record time, shaving years off traditional development timelines.Tweet

    AI is also being applied to solve broader, more complex challenges. In logistics, companies are using AI to optimise route planning, fleet management, and supply chain operations. Autonomous vehicles and drones are already transforming how goods are delivered, reducing delivery times and costs.

    In manufacturing, AI-driven predictive maintenance can anticipate equipment failures, cutting downtime and costs by as much as 30-50%, according to McKinsey.Tweet

    AI Boosting Data Privacy and Security

    Data privacy and security are growing concerns, and AI is stepping in to help. By automatically identifying and managing sensitive data, AI can help companies comply with regulations like GDPR and CCPA. In terms of security, AI’s ability to detect unusual patterns in real-time is a game-changer. It catches breaches before they can cause serious damage, offering companies a proactive approach to safeguarding their data.

    AI is also being used to detect and prevent fraud in sectors like banking. AI-powered systems can identify unusual spending patterns and flag fraudulent transactions almost instantly. This combination of speed and precision is becoming crucial in today’s data-heavy world.

    How Start-ups Can Leverage AI to Compete

    For start-ups and small businesses, AI is a fantastic opportunity. I always tell businesses to view AI as an enabler, not a threat. The best part?

    You don’t need millions of pounds to get started. Cloud-based AI services from AWS, Google Cloud, or Microsoft Azure allow companies to access powerful AI tools without hefty upfront costs.Tweet

    To start, focus on personalising your customer experiences and optimising operations. AI analytics can help you better understand customer behaviour and create targeted marketing campaigns. Another example is AI’s role in customer service, where AI chatbots are handling routine enquiries, freeing up staff to tackle more complex queries. And remember, education is key—there are plenty of online resources to help you learn the basics.

    Don’t be afraid to experiment with new ideas and tools; it’s all about getting started and iterating.Tweet

    Breaking Down the Barriers to AI Adoption

    Even with all its promise, AI still faces hurdles. The biggest barriers? Lack of skilled talent, high costs, and concerns about data privacy and security. To overcome the talent gap, we need more educational initiatives and partnerships between businesses and academia. Upskilling teams is essential if companies want to harness AI’s potential. Singapore, for example, wants its workforce to be AI bilinguals to meet future demands.

    When it comes to privacy and security, we need robust regulatory frameworks and a clear approach to AI’s use. Taiwan's AI Law Is Quietly Redefining What “Responsible Innovation” Means, offering one model for structured governance in the region.

    Being upfront about how AI is used will help build trust, which is key to encouraging wider adoption.Tweet

    AI and Humans: A Winning Combo

    AI isn’t here to replace humans—it’s here to work with us. AI takes care of repetitive, data-heavy tasks, allowing humans to focus on creative problem-solving. Take customer service: AI chatbots handle routine queries, freeing up human agents for more complex issues. In fields like finance, AI is being embraced by APAC Insurers to streamline processes while humans handle nuanced client interactions. This collaborative approach highlights Why AI Won't Replace You If You Evolve. In fact, a recent report by the World Economic Forum underscores this, predicting that AI will create more jobs than it displaces by 2027, particularly in roles requiring human-centric skills and problem-solving^. World Economic Forum - Future of Jobs Report 2023.

    Anonymous
    10 min read30 September 2024

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    Latest Comments (2)

    Monica Teo
    Monica Teo@monicateo
    AI
    9 December 2024

    Adrian's hit the nail on the head! Here in Singapore, we're definitely seeing AI weave into everything, especially in advanced manufacturing and our tech sector. It's smart, you know, how it’s speeding up product development. Healthcare too is getting a boost, though ensuring data security is always a big talking point. Good insights.

    Crystal Tan@crystaltan
    AI
    21 October 2024

    Totally agree la, Adrian. From what I see in SG, AI's truly changing the game everywhere, not just in business but making things more efficient for us all.

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