Despite the AI Summit event being part of the London Tech Week program last week, there was a heavy theme of AI running through the sessions on the first couple of days. Key AI takeaways from London Tech Week (Olympia): 🏢 Many large corporates are now in full swing implementing GenAI solutions, both in customer service but also in internal use for efficiency – with a rule of thumb of expected efficiency savings being roughly 20%, with 90% of job roles expected to be impacted 🏢 The value chain below them is jostling for position in what feels a little like ‘digital transformation 2.0’ – including both AI tooling vendors and major system integrators/management consultancies, each looking to build credibility via partnerships with major brands From the AI Summit (Tobacco Dock): 🛠 A similar flavour but clear evidence that use of AI is also maturing in companies focused on physical products/engineering 🔬 There are obvious considerations and challenges, particularly via the explicability of outputs from LLMs, but it’s clear that the combination of deep skills in science, engineering and AI skills together with modern advances in AI have huge potential 👨🔧 This is likely to be heavily focused on ‘human in the loop’ applications initially 👩💻 With a general principle of utilising AI and people in tandem and playing to their respective strengths 🌐 There’s an open question about whether foundation models will be a key foundation for the majority of uses cases, or whether an ecosystem of a larger number of smaller size standalone models will be more prevalent in this domain ⛓ Either way, it seems likely that corporate governance regarding the implementation of AI solutions will become increasingly important ⚖ …in addition to surrounding AI-enabled solutions with other checks and balances Does anyone else have any key themes emerging from their attendance at these events or views on the points above?
Steve Wilkes
3w
Hi Andy, there's definitely a lot to think about. Did the subjects of security and confidentiality come up much? I have a feeling deeper thinking towards those concerns might swing the pendulum in favor of smaller private models, versus the open LLMs and RAGs that get most of the press.
Nathan Cocozza
1mo
It sure is going to be interesting to see how every aspect of life will certainly change…
Andy Walker - thanks for the update - interesting times for sure !
Global Head of Middle Office at Adnoc Global Trading
1moThanks for the summary Andy Walker , there is certainly a lot to consider over the next couple of years. Your note on governance was interesting, I think this will be a material challenge in Trading and Risk Management.