Commerce www.bahrainthismonth.com 37 January 2023 Perhaps the key change has been the way in which we work with machine systems. From coding machines to creating responses, machines are now able to learn from past situations and be responsive and predictive. This has been mostly through supervised learning systems i.e. in which the machine is given lots of examples of the correct answer to a particular problem. For example, JPMorgan Chase introduced a system for reviewing commercial loan contracts; work that used to take loan officers 360,000 hours can now be done in a few seconds. And supervised learning systems are now being used to diagnose skin cancer. AI and the GCC All the GCC governments have integrated AI into their national visions and strategic planning processes. As per a report by PWC, the potential impact of AI for the Middle East is expected to be USD320 billion, of which UAE is likely to see the highest relative gains at 14 percent of GDP and Saudi Arabia the highest absolute gains of USD135.2 billion. The region is expected to see 20-34 percent annual growth in the contribution of AI per year across the region. AI and Machine Learning is driving applications across logistics, healthcare, fintech and even recruitment. Are Machines Taking Over? While it seems like machines can indeed do a lot of jobs, the drivers of those actions are still going to be visionary human resources. It may be likely that almost every area of our lives and work will use AI and Machine Learning. However, it’s unlikely that they will be able to take over what people can do. The difference between success and failure is likely to be how efficient a business knows how to use these tools. And yes, they are and are likely to remain tools and aids- guided by and subject to the capability of the person guiding that tool at its initial stage. Machines aren’t taking over, Chat GPT cannot replace jobs – they can’t think, they can only learn. That’s the difference. Pria is a management consultant who has spent over 15 years of her career helping clients across a variety of industries. You can connect with her at [email protected] and follow her Instagram handle @guide_ my_idea. January 2023 37 www.bahrainthismonth.com/gallery Xmas Party Alison Lillywhite held a Christmas Party with family and friends at Juffair Heights.
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