RIYADH: Amid a global artificial intelligence boom, PwC Middle East predicts that generative AI will automate a substantial portion of tasks in the next 18 to 20 months.
This revelation was made by Ali Hosseini and Stephen Anderson, top officials at the consultancy firm, at a panel discussion during a special event in Dubai focusing on the development of the technology.
Both executives highlighted the development of generative AI, an interface that utilizes algorithms to create content.
It aims to revolutionize the business landscape as it progresses toward achieving artificial general intelligence, a form of machine intelligence with human-like capabilities.
“AI can now be utilized for market assessments, pricing strategies and competitive analysis, using the impressive capabilities of tools, such as Midjourney and Leonardo,” Hosseini, chief digital officer at PwC Middle East, said during the panel at the the Dubai Assembly for Generative AI on Wednesday.
He added: “These, along with others, are transforming the way we design and create digital content. It not only saves time but also enhances the quality of our output”
Hosseini underscored the urgency to remain up-to-date with the newest tools and enhancements in the rapidly evolving AI landscape.
Additionally, he pointed out the recent advancements in ChatGPT accuracy aided by the latest plugins.
“AI and humans can collaborate, augmenting each other’s capabilities to drive innovation and efficiency across industries,” Hosseini said.
Acknowledging the limitations of AI models, both in data accuracy and potential biases, Anderson and Hosseini emphasized the critical need for transparency in operations.
The duo called for the establishment of clear frameworks and a thorough education for teams to maximize the potential of AI while maintaining ethical standards.
“AI holds the key to addressing challenges such as climate change and sustainability. It is an exciting time, and technology is our ally in overcoming these hurdles,” Anderson, partner and strategy and markets leader at PwC Middle East, said.
Highlighting the global contribution of the UAE to the sector, Anderson praised the innovative strides such as Falcon, a generative AI model conceptualized by the Technology Innovation Institute.
He also lauded Dubai’s preparedness for rapid industry change and dispelled myths about AI’s job elimination threat, suggesting instead its transformative potential.
