SUSS-UOB-SMF Global Leadership

Transforming to
Symposium
16 August 2024, Singapore

industry 5.0: how to

harness AI ethically for
societal value and
economic advantage
PRESENTED BY
KATIE KING
Meet Katie King
• 30-year career in consulting

• Published Author on AI

• Voted Top 10 AI Influencer 2023 by AI

Time Journal

• CEO of AI in Business and Zoodikers

• Member of APPG taskforce for

Enterprise Adoption of AI
THE WORLD IS CHANGING
 WILL YOU AND YOUR
ORGANISATION CHANGE
 A Quick Poll Before We Begin...
What’s the biggest challenge AI poses
for you?
 Making my role redundant

 Impact on my privacy

 Changing our culture and

dehumanising us
 A Quick Poll Before We Begin...

What do you believe will be the biggest

opportunity?
 Making us more productive

 Enabling us to add more strategic value

 Understanding employees better

 AI in Different Forms
Interactive Interactive AI refers to developing AI systems that can
AI engage in human-like conversations and respond
dynamically to user inputs.
Visual
AI • Common Examples: Chatbots; Smart Personal
Assistants
Functional
• Real World Use Cases: Amazon’s Echo devices, Apple’s
AI Siri

Analytic
AI

Generative
AI
 AI in Different Forms
Interactive Visual Artificial Intelligence is an aspect of computer
AI science that teaches machines to make sense of images
and visual data the same way people do.
Visual
• Common Examples: Computer Vision; Augmented Reality;
AI Facial Recognition

Functional • Real World Use Case: Some insurers use Visual AI to assess the
AI damage from vehicular accidents to draft a claim

Analytic
AI

Generative
AI
 AI in Different Forms
Interactive Functional AI also scans huge amounts of data and
AI searches for patterns and dependencies in it. However,
instead of giving recommendations, functional AI takes
Visual actions.
AI
• Common Examples: IoT Solutions; Robots

Functional • Real World Use Case: An IoT sensor on a manufacturing line

AI notices a malfunction, and sends a command for the machine
to shut down before further damage is incurred
Analytic
AI

Generative
AI
 AI in Different Forms
Interactive Powered with machine learning, analytic AI scans tons of
AI data for dependencies and patterns to ultimately produce
recommendations or provide a business with insights.
Visual
• Common Examples: Sentiment Analysis; Risk Assessment;
AI Market Insights

Functional • Real World Use Case: Various retailers use analytic AI to forecast
AI demand and make smarter inventory recommendations

Analytic
AI

Generative
AI
 AI in Different Forms
Interactive Generative AI is the process of AI algorithms generating or creating an
output, such as text, photo, video, code, data, and 3D renderings, from
AI data they are trained on.

Visual The purpose of generative AI is to create content, as opposed to other

forms of AI, which might be used for other purposes, such as analysing
AI data or helping to control a self-driving car.

Functional • Common Examples: ChatGPT; Bard; DALL-E

AI • Real World Use Case: A marketing team could use generative AI to craft
copy for websites, social media, emails, etc.
Analytic
AI

Generative
AI
AI in banking
 Singapore central bank
• Singapore's central bank warns AI isn't ready to handle monetary policy

• LLMs show promise, but are 'not yet capable of providing credible explanations
for their own predictions'

• Monetary Authority suggests AI is not yet suitable to inform its policy

development work.

• Refers to collective failure to foresee the persistence of inflation after the

pandemic, which called into question the usefulness of models
 UOB early adopter of CoPilot
Benefits to employees:
• Raise productivity and effectiveness: transform the way they work, from
summarising lengthy documents and email threads on Outlook, transforming
raw data into visualisations in Excel, or delivering concise meeting summaries
on Teams.
• Improve accessibility to pertinent information: gain the capability to locate and
reference information within the Bank in an effortless and convenient manner.
It can intelligently identify and retrieve relevant data based on the context of
the email or documents that employees are working on.
• Enhance content quality and deliver impactful messaging: transform existing
documents into engaging presentations, make content more concise and
suggest suitable tone of voice for messages
Banks & Financial Institutions
• BNP Paribas is using chatbots to answer client
questions while AI seeks to detect and prevent
fraud and money laundering.

• TD has developed tools that enable the bank to

offer customer them tailor-made services based
on their data. I.e. if the bank knows that a
customer is in the process of buying a house,
marrying, or having a child, this data informs the
products and services they might be offered.
Banking & Financial Services
• PNC’s corporate online and mobile banking
platform PINACLE comes with a cash forecasting
feature that uses AI and ML to make predictions
about a company’s financial future

• Royal Bank of Canada - NOMI Forecast platform

provides clients with a quick 7-day view into their
future cashflow, showing upcoming
preauthorized payments from any RBC deposit
account.
Banking & Financial Services
• Mastercard is using an AI engine in its marketing
team to spot micro trends by wading through
billions of conversations on the internet.

• Deutsche Bank is deploying deep learning to

analyze whether international private banking
clients are too heavily invested in a particular
asset and match individual customers with
suitable funds, bonds or shares.

• Wells Fargo is using large language models to

help determine what information clients must
report to regulators and how they can improve
their business processes.
 JP Morgan Chase: copywriting with AI
• In the financial sector, JP Morgan Chase used AI for copywriting

• Partnered with Persado; ran a test and found that AI-generated copy resulted in dramatically higher
engagement rates – up to twice the click-through rates of a traditional copy.

• Surprising effectiveness of AI in creating compelling copy that a human marketer might not have
thought of. 450% increase in ad click-through rates

• The robo-writer builds copy from a vocabulary database filled with 1m+ words that trigger emotional
appeal in consumers.

• Human version: “Access cash from the equity in your home”

• Robot version: “It’s true — You can unlock cash from the equity in your home”
AI in manufacturing
 Huge investment in manufacturing
• Ai is expected to transform manufacturing in coming years as companies invest
billions in this new technology.

• Use of AI varies greatly among manufacturing firms, but those in the early
stages of thinking about how to use it can learn a lot from first movers.

• From putting people first to choosing the right processes to change first, there
is a lot to learn about how to use AI to transform complex manufacturing,
according to Chow Woai Sheng, of Agilent Technologies.
Still mostly small scale projects
• Ai is expected
 AI in manufacturing
Key benefits:
• Enhanced Operational Efficiency and Adaptability: AI optimizes manufacturing
schedules by analyzing numerous variables in real time and swiftly adapting to
disruptions like equipment failures, ensuring continuous optimal solutions.

• Improved Quality Control and Sustainability: AI integrates advanced inspection

tools to enhance quality control, reducing the need for manual checks and
increasing accuracy in defect detection. Additionally, AI aids in achieving
sustainability goals by minimizing energy consumption, waste, and emissions
through continuous process optimization.
 AI in manufacturing
Key benefits:

• Supply Chain and Process Optimization: AI significantly enhances supply chain

management by improving inventory control, demand forecasting, and logistics
planning. It also identifies and addresses bottlenecks and inefficiencies within
manufacturing processes, ensuring smooth and efficient operations.
AI in higher education
 The rise of the Copilot
• An AI copilot that tailors education to students’
unique needs and goals.

• It acts as a dynamic companion that supports a

student throughout their entire learning
journey, constantly analysing their strengths
and weaknesses

• Helps educators expedite content preparation,

to offer the right level of challenges and extra
support for learners where needed
 The rise of the Copilot
• Revolutionises accessibility in education. Speech-to-text and text-to-speech
features can break down barriers for students with hearing impairments or
learning disabilities

• AI can also help identify and remove bias from educational materials and
assessments. AI algorithms can scan content for cultural insensitivity or
discriminatory language, ensuring fairness and inclusivity in the learning journey.

• Language is no longer a hurdle with AI-powered translation tools. AI can bridge

communication gaps and foster understanding among students from diverse
backgrounds.
 The rise of the Copilot

• Grading becomes a collaborative effort with AI. By automating repetitive tasks

and reducing the potential for human bias, AI can help ensure a fair and
accurate evaluation of student learning.

• These copilots will anticipate student needs, recommend personalised skill

development pathways, and tailor learning experiences to individual career
aspirations.
Indiana University’s Reputation Management
• Indiana University is a highly-ranked public university in
the US

• Their marketing and communications team relies on

insights from a social listening tool to stay up-to-date on
campus conversations and get ahead of potential crises

• As students arrived on campus in the autumn, the social

team used Sprout Listening to keep an eye on chatter
and found that overall sentiment was 85% positive for
the month of September, but parking issues put a dent
in that sentiment.
• The team also uncovered specific frustrations like
the cost of parking permits, inability to find spots
and campus construction that exacerbated the
issue
• Were able to address it with the necessary teams
AI in retail
AI Envisions an Iconic Brand
• Heinz decided to jump on the generative AI trend, and
tapped Canadian agency Rethink for a creative campaign

• They asked AI “What does AI think ketchup looks like?”, and the AI
produced imagery that looked very similar to Heinz packaging

• They also asked Heinz brand fans on social media to come up with
creative prompts such as ‘Ketchup in space’, which they then input
into the AI image generator and turned into ads

• Heinz produced a run of special edition bottles replacing the label

with Heinz AI images, and even created an art gallery in the
metaverse where people flocked to view all the Heinz AI images.

• Generated over 850M earned impressions around the world (worth

over 2500% more than their media investment) and received
coverage in leading trade, art, tech, and lifestyle media outlets
AI Envisions an Iconic Brand
 AI in
Marketing
AI in Marketing
 Personalisation at Scale
Marketers can use AI to better understand
AI in their customers, build more detailed personas,
Marketing and segment their audiences more effectively.

• Real World Use Cases: Audience insight

platforms; CRM; Lead generation and
scoring
 Campaign Generation
Marketers can use AI to make sense of their
AI in data and translate it into customer-focused
Marketing campaign ideas.

• Real World Use Cases: Creative campaigns

for brands such as Coca-Cola, Lexus, Heinz,
Stradivarius, and Kit-Kat
 Content Creation
Marketers can use AI to craft engaging copy for
AI in all of their channels and modify it for different
Marketing audiences, geographies, languages, etc.

• Real World Use Cases: Social media copy,

website content, AI-generated artwork,
video closed captioning, etc.
 Reputation Management
Marketers and comms pros can use AI to keep
AI in tabs on customers’ perceptions and attitudes,
Marketing success of their campaigns, and discussions of
their brand across platforms.

• Real World Use Cases: Social listening tools,

sentiment analysis platforms
AI models
 AI in Sales

Automated Measurement Lead Prediction Smarter

interactions & Improvement & Scoring Segmentation

Extracting Chatbots for Sentiment Fostering Client

Data from Warming Up Analysis Relationships’
Docs the Pipeline
Key Tools
& Vendors
Key Tools & Vendors
 Chatbots &
Key Tools Virtual Assistants
& Vendors • Amelia AI
• Conversica
• Leena
• Talkdesk
• IBM Watson
• Zapier AI
• GPT-4
• YouChat
 Generative AI
• ChatGPT/Bard (Content writing)
Key Tools
• Jasper AI (Content writing)
& Vendors
• Rytr (Content writing)
• GetGenie (SEO-optimised content)
• Github Copilot (Code/software)
 Marketing Tools
• GetGenie (SEO-optimised content)
• Github Copilot (Code/software)
Key Tools • Iterable
& Vendors • Movable Ink
• Phrasee
• Boomy (Music generator)
• Copy.ai (Copywriter)
• Notion AI (Copywriter)
 Image & Video Tools
• Midjourney (Imagery)
• DALL-E (Imagery)
Key Tools • Wombo (Imagery)
& Vendors • Stable Diffusion Online (Imagery)
• Bing’s Image Generator
• Synthesia (Video)
• Lumen5 (Video generator)
• VoiceArt (Image generator that uses voice
prompts instead of text)
• Movio.la (Turns text into educational or
promotional videos)
 Sales Tools
• Conversica (Lead engagement & follow up)
Key Tools • Gong (Team performance monitoring)
& Vendors • Pipedrive (CRM)
• Chorus.ai (Conversation intelligence)
• Demandbase (Targeting)
• Luna (Lead sourcing and outreach)
• Robin (Research and outreach)
• Momentum Sales AI (Conversation
summaries and insights)
 HR Tools
• HireBrain & FindEm (Talent management)
• Betterworks (Performance management)
• Textio (Spots bias in job postings)
• Pymetrics (Behaviour and skills insights)
Key Tools • HireVue & Eightfold AI (Virtual hiring)
& Vendors • Loxo (Candidate engagement)
• Bamboo (Employee record management and
reporting)
• Skillate (Candidate analysis)
• Taleo (Workforce insights and performance
monitoring)
• Leena AI (Employee satisfaction insights)
• Obrizum (Personalised learning & training)
• Workera.ai (Personalised learning & training)
Paradigm shift
 Paradigm shift
• Paradigm shift from a tactical focus on economic value to
a strategic, macro focus on societal value and a
transition from welfare to well-being

• Stakeholders must have confidence in AI as an

exponential technology for good, and not experience it
as an accelerator of unsustainable practice

• With AI, business leaders can address the pace, scale

and complexity of change and take bold steps on
sustainability with confidence

• GenAI democratizes access to data and insights, giving

everyone augmented potential to drive and accelerate
sustainable change.
 AI’s impact on dynamics between
multi-generational workforce
• Potential for AI to exacerbate intergenerational tensions in workplaces

• Recent study explored the dynamics of up to four generations working

together and the impact of digital tools on their collaboration

• Unique relationship each generation has with technology, from

gramophones to Alexa

• An ageing workforce and up to four generations in today’s workplace,

managing and leveraging generational differences is essential for any
forward-thinking business

• Concerns about the integration of AI, like ChatGPT and Claude, into everyday
tasks and its potential to foster distrust and make older generations feel
outdated.
 AI’s impact on dynamics between
multi-generational workforce
• Every age group has grown up with tech that feels native. But it is also
inevitable that every generation struggles with new technologies that can feel
alien. Just watch Gen Alpha integrate ChatGPT into their homework and
share AI-generated deepfakes, which means they will not trust anything—
they will have habits that make Gen Z feel old
 AI regulation in Singapore

• Singapore has a national AI strategy, but does not have laws that directly regulate AI
• Instead, the overall framework counts on stakeholders like policymakers and the research
community to “collectively do their part” to facilitate innovation with a “systemic and balanced
approach.”
• Smaller countries can still compete with larger countries in AI development.
• The whole point of AI is to level the playing field
• But we must be aware of the dangers of neglecting AI’s risks
 Regulation has arrived in the EU

• The European Union (EU) Artificial Intelligence (AI) Act entered into force on 1st August 2024
• It unifies AI regulation across the single market’s 27 member states.
• Several broad aims:
• it seeks to use legal mechanisms to protect the fundamental rights and safety of the EU
population when exposed to AI
• to encourage investment and innovation in the technology
• and to develop a single, unfragmented market for “lawful, safe and trustworthy AI
applications”.
AI for humanity
5 tips to enhance DE&I and reduce bias

1. Foster Inclusion: Encourage collaboration among diverse teams,

promote open dialogue, and ensure everyone feels valued and heard.

2. Diverse Data Collection: To ensure fair outcomes, it is crucial to collect

diverse and representative data for AI systems. This includes
considering different demographics, perspectives, and experiences. By
incorporating diverse data, AI models can provide more accurate and
inclusive results.

3. Regular Bias Assessments: Review the algorithms, data sources, and

training processes to recognize and prevent errors that may emerge.
Implement mechanisms to address biases and ensure imperialness in
decision-making.
5 tips to enhance DE&I and reduce bias

4. Engage Stakeholders: Seek input from different communities, experts

and affected individuals to understand diverse perspectives and avoid
unintended consequences. This approach helps create solutions that
address various needs and concerns.

5. Ethical Frameworks: Develop clear, ethical guidelines for the use of AI

systems in relation to DE&I. Establish principles that prioritize integrity,
accountability, transparency and privacy. These frameworks can guide the
development, deployment, and governance of AI technologies to ensure
they align with DE&I goals.
 Creating a Playbook for AI
1. Define Objectives and Scope
2. Understand AI Capabilities and Tools
3. Develop Use Cases
4. Build a Team and Assign Roles
5. Create Implementation Guidelines
6. Ensure Data Privacy and Ethics
7. Test and Refine
8. Measure Impact
9. Document and Share Best Practices
10. Stay Agile and Evolve
THANK YOU
THANK YOU
QUESTIONS?
QUESTIONS?