In theory, artificial intelligence could be used to supplement and enhance the quality of work and the morale of workforces, but it’s awfully difficult to envision that being the case. That tends not to be the direction that multinational corporations, who will ultimately be tasked as custodians of AI, usually go. At the recent Yale CEO Summit in June of this year, top CEOs talked in broad, agreeable terms about the potential applications of AI, a far cry from the apocalyptic scenarios screaming from the headlines. As the Fortune article documenting the Summit details, “The comments of professional services CEOs reflected an overwhelming belief that AI can never truly replace human judgment in their fields, even as the new technology disrupts many facets of their business. There was an overwhelming agreement that, for all AI’s usefulness in automating what can be automated, AI is best used to buttress rather than supplant human professionals, freeing them up for higher value-added work while delivering services with the empathy and appreciation of ambiguity that only humans are capable of.” The Fortune article also details possible uses for artificial intelligence in the banking industry, as suggested by current Lazard CEO and former Office of Management and Budget Director Peter Orszag. “AI provides the opportunity to replace some menial work of investment banking, whether it’s having executive assistants go back and forth on finding a time for a meeting to summarizing meeting notes. It’s also an incredible opportunity for our talented young analysts who spend a lot of time pulling data from multiple sources to streamline the research process as well as how that information is used in various applications. All of that can be automated and that frees up our people for higher value-added tasks where we’ll put their skills to better use,” said Orszag, who was also careful to stress the immaturity of the technology. “I tested putting together an email using GPT4 but ended up redoing most of it myself. There were a couple of 19
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