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Experts emphasize the necessity for a global policy consensus to address the regulatory and economic challenges posed by AI. The Centre for Aerospace and Security Studies (CASS) hosted a webinar discussing AI's transformative role in the economy, highlighting the need for better understanding of AI startups' contributions. Dr. Usman W. Chohan moderated the session, focusing on both conceptual and practical aspects of AI applications.
Mr. Phillip Kingston, CTO of AppliedAI, presented insights on the current state and future of AI, noting that institutional adoption is hindered by a lack of trusted delivery systems. He cautioned against overestimating AI's impact on employment, suggesting that collaboration with AI would be more beneficial than outright replacement. The discussion concluded with a call for international consensus on AI regulation, especially in light of emerging risks and the challenges faced by economies like Pakistan.
• Global consensus is crucial for effective AI regulation and economic integration.
• AI's impact on employment may be overestimated amid current technological hype.
AI refers to the simulation of human intelligence in machines, which is crucial for economic transformation.
BPO involves contracting third-party service providers for business functions, which may be threatened by AI automation.
Institutional adoption refers to the integration of AI technologies within organizations, which is currently limited by trust issues.
Phillip Kingston during the webinar.
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