The AI Revolution

Artificial Intelligence (AI) is more than ChatGPT, it’s a force reshaping industries and everyday life at an astonishing pace. In just the past year, the global AI market has surged, with companies spending approximately $25 billion on generative AI alone ^[1], almost nine times more than in 2022. According to McKinsey’s ‘State of AI in 2024’ report ^[2], “65 percent of respondents report that their organisations are regularly using gen AI, nearly double the percentage from our previous survey just ten months ago.” From customer service automation to personalized content, AI’s presence is unmistakable in sectors ranging from healthcare to finance.

But this is no mere trend. As AI models continue to surpass human performance on numerous benchmarks, it’s clear these innovations will have a huge impact on the world economy, the way we work, and beyond. However, while AI’s swift adoption into the mainstream underscores its huge potential to address various complex problems, it also raises ethical and regulatory questions that need addressing as a matter of urgency.

At our Flagship Deep Tech Skills Days 2024 event in Warsaw, 12-13 November, you can gain deeper insights into AI and its potential, attend panel discussions and workshops, and engage with AI experts.

The impact of AI on society and the economy

Even though generative AI is still in its infancy, the its effect is already evident.

In the job market, it’s creating a mix of job displacement and opportunities. On the one hand, there’s a reduction in the number of data entry roles and certain manufacturing jobs as tasks involving repetitive, routine processes being automated, while demand for talents with complex problem-solving skills, data analysis and creativity are growing, which emphasises the importance of upskilling and reskilling workers.

A study by the Knowledge for Policy ^[3], estimates that 14% of jobs in OECD countries are automatable and another 32% could face substantial changes in how they are carried out, with women, workers with a lower secondary degree education and workers in lower-wage occupations most affected.

However, new technologies are also creating new job opportunities. In the EU, 2 million new jobs have been created due to digitalisation over the last decade and 1.75 million new jobs are expected in ICT by 2030, with one additional technology job creating around five new, complementary jobs in the local non-tradable sector.

Additionally, driven by innovations in industries ranging from healthcare to logistics, technologies like machine learning and automation enhancing efficiency across sectors will enable AI to significantly contribute to economic productivity. ^[4]

However, AI also presents various ethical challenges, including concerns about surveillance and data rights, and algorithmic bias in AI systems which are often rooted in training data and can lead to unfair outcomes. This has sparked calls for the development and implementation of ethical AI development and strong policy frameworks to promote responsible AI practices, transparency, and accountability, and ensure society can harness AI’s benefits while safeguarding against potential risks.

The future of AI

AI is evolving rapidly, and new technologies are set to transform how we engage with AI across various sectors. Quantum computing, although still in its development era, promises to significantly advance data processing power, enabling AI to tackle complex tasks like molecular simulations in drug discovery and large-scale cryptographic applications, while Edge AI is making AI processing faster and more secure by placing computation directly on devices rather than relying on cloud processing, which is particularly effective in manufacturing, where devices can now rapidly detect production issues in real-time.

There is also the huge potential AI offers to tackle global challenges, and is already being used to improve agricultural practices, support climate modelling, and extend healthcare access in underserved regions.

However, to fully realise AI’s potential will require collaborations and partnerships among industries, governments, and academic institutions to foster the creation of standards, shared knowledge, and regulatory frameworks that ensure AI benefits are equitably distributed and responsibly developed. Initiatives like the EU’s AI Act provides AI developers and deployers with clear requirements and obligations regarding specific uses of AI, while industry/academia collaborations will help shape a future where AI innovation aligns with societal needs.

AI at Deep Tech Skills Days 2024

On day 1 of the conference, Caroline Mol (EIT Deep Tech Talent Initiative Advisory Board) will be moderating a panel session on ‘AI and its Impact on Talent and Training’. There are also five AI breakout sessions running across the two days:

AI is transforming healthcare: are you ready to lead the change? by GE Healthcare and EIT Health e.V., introduces participants to the HelloAI program. Developed by GE HealthCare and EIT Health, this is a self-paced educational initiative that explores AI’s impact on patient-centric healthcare. The program equips medical professionals, students, and researchers with AI knowledge through expert-led lectures, real-world case studies, and interactive events.
Bridging the AI Skills Gap in Europe by NVIDIA highlights NVIDIA’s programs and resources for upskilling Europe’s workforce in AI, accelerated computing, and HPC programming to address the current skills gap.
Upskilling for the AI Revolution: Practical Strategies & Success Stories by Generator Pomysłów discusses strategies for developing AI expertise, sharing case studies from industry leaders to highlight the transformative power of AI upskilling.
Run High-Quality AI Training without a Computer Science Degree by MinnaLearn and GroupM, and shares the journey of building AI capacity at GroupM and provides guidance on hosting training programs without requiring a technical AI background.
Cross-Sector Synergy: AI and Entrepreneurship Education for the Future by Intel and JA Europe will explore the integration of AI skills and entrepreneurship education using the AIEnter4Youth program as a case study.