Terminator or Westworld – where will artificial intelligence (AI) take us? Probably both and somewhere in between, according to Dr Catriona Wallace, an expert in the field and founder of listed AI company Flamingo AI.
Dr Wallace is well-respected and advises the world’s leading companies on AI strategy, the future of work, AI ethics and human rights and how to prepare for the incredible transformation that AI will bring and therefore her presentation at the recent CTC-CAPA Corporate Travel Gathering – Australia in Sydney in late Nov-2019 was well received.
A philanthropist, human rights activist and mother of five, Dr Wallace is now based between the US and Australia, has become one of the world’s most cited commentators on AI, customer experience and entrepreneurship, and is seen as one of the most influential women in business in these areas.
Speaking to the corporate travel audience in Sydney last month, Dr Wallace said AI and other disruptive technologies such as blockchain, machine learning and autonomous vehicles are now “are all starting to come into a very mature state” and business leaders need to be ready to incorporate these technologies and adapt to them.
She explained that development of AI and machine learning/algorithms will deliver ‘hyper-personalisation’, determining and presenting tailored options to customer. According to Dr Wallace, AI is now at an accuracy level of about 40% in predicting consumer intention and presenting relevant offers to them, but forecast will reach close to 100% in a relatively short period. Organisations will “know you better than you know yourself within a very short period,” she explained.
This will mean “there will be a great pressure” placed on organisations “including airlines” for “authenticity and transparency,” she identified, and stated there will be “pressure” from the Government and “growing pressure” from millennials and organisations to “get ready” and be “quite transparent”.
HEAR MORE… You can hear the insights of Dr Catriona Wallace, founder of listed AI company Flamingo AI, in this CAPA TV video of her keynote address recorded at CTC-CAPA Corporate Travel Gathering – Australia, in Sydney in Nov-2019.