By Charlie G. Patreus
Artificial intelligence (AI) has the power to bring about both positive advancements and potential chaos and devastation. This was the key message conveyed at the inaugural Silicon Slopes Artificial Intelligence (AI) Summit hosted by Utah Valley University.
Tyler Folkman is the chief technology officer and AI officer for Benlabs, an organization dedicated to exploring the applications of machine learning in transforming creator entertainment. Folkman was among the esteemed AI experts who shared their insights at the conference.
He explained that we are yet to comprehend the full potential of AI. He said there is a belief that it can achieve remarkable feats, but there is also a lot of fear associated with it. As we continue to enhance its capabilities, AI holds boundless possibilities to assist us. While it could potentially cause harm, he believes we now have the ability to control and mitigate those risks.
Utah Attorney General Sean Reyes emphasized the need for the tech industry’s involvement in shaping policies and laws surrounding AI. Reyes urged experts and AI consumers to ensure that the regulations implemented protect humanity without impeding the positive applications of AI.
Reyes also pointed out the existence of current tools and ongoing efforts in this regard. He highlighted proposals such as digital watermarks or inherent ID markers that can help distinguish between authentic and fake content, benefiting consumers, businesses, and legal proceedings.
Rachel Bi, an associate professor in UVU’s Personal Financial Planning Program and head of the Finance and Economics Department at the Woodbury School of Business, has been actively researching business applications of AI, machine learning, blockchain, and cloud computing for several years.
Bi explained the distinction between two types of AI. Narrow AI, or weak AI, is designed to tackle specific tasks or solve particular problems. On the other hand, general AI, or strong AI, aims to replicate the broad cognitive abilities of human intelligence, enabling it to comprehend, learn, and perform any intellectual task humans can.
“The majority of the AI that we engage with on a daily basis are narrow AI, including the famous ChatGPT,” Bi said. “It is worth mentioning that developing a general AI could be very challenging and is not yet realized, although people are working on it. But the attainment of self-awareness of general AI will raise profound philosophical, ethical, and technical questions that are hotly debated.”
Bi further highlighted AI’s impact on the financial sector, citing the use of robo-advisors to manage stock portfolios and AI algorithms to determine individual credit scores by analyzing extensive personal data, such as debt, revenue, and spending habits.
Other speakers at the summit included Dave Wright, CEO of e-commerce acceleration platform Pattern, and Christina Baum, vice president of Digital Transformation and chief information officer at UVU.
“I love that UVU is being recognized as leading out,” Baum said. “I love our partnership with Silicon Slopes. I think there is so much that we can leverage artificial intelligence for in the education space, and I think instead of being scared of where that might lead us educationally, we need to embrace that and find ways that we can really catapult our education forward and help remove barriers for students.”
UVU is well-positioned to adapt to AI-powered learning. George Rudolph, chair of UVU’s computer science department, emphasized that hosting the AI Summit conference strengthens UVU’s connection to local industries and reinforces its commitment to cutting-edge workforce development.
The one-day conference also marked the official launch of the Silicon Slopes AI chapter, further fostering collaboration and progress in the field of artificial intelligence.
For another example of how UVU is embracing cutting edge technologies, check out their work with VR and drones below.
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