Day 2 P1/ Good morning from the FII Priority Summit where the navy blue and mid blue suits are taking over the room! AI is at the core of every conversation. What I’ve learned so far from the global leaders:
Yasir Al Rumayyan
– Reasons KSA can be a global leader in AI outside of the US:
– Energy advantage and clean energy
– Geopolitical positioning
– Significant funding
– Skilled workforce (I don’t agree with him, finding talent is hard in UAE and it’s even harder in Saudi Arabia)
– Investing $228 billion in the US, mainly in AI, up from $100 billion between 2017 and 2023, making 440,000 jobs.
Michael Dell: Regulating AI is almost impossible due to its speed.
Marcelo Claure: AI is “the bicycle of the mind.”
– Used AI in their soccer club with a €60 million budget, now beating Reql Madrid in La Liga.
– Reduced marketing time from 100 hours to 1 hour.
– Legacy companies that have AI as priority will be Amazon, those who have AI as lower priority will be Barnes and Nobles.
– Stephen A. Schwarzman: we are all excited about regulation on AI, but as Michael Dell said it’s almost impossible.