Unveiling AI’s Real Impact: An Exclusive Interview

Richard Foster-FletcherAugust 8, 2024

Recently, I had the privilege of being featured in the “AI For Real” newsletter, where I discussed several critical topics concerning AI, its impact on employment, and the future of education. Here, I share insights from that interview and delve deeper into these pressing issues.

Minds of the Machine: AI Experts on the Cutting Edge

This segment in the “AI For Real” newsletter features interviews with experts from diverse fields, shedding light on the multifaceted world of AI. Below are excerpts from my interview, where I explore the nuances of AI’s integration into various sectors and its broader implications.

AI and Global Employment: A Complex Reality

Q1) It’s been almost two years now since ChatGPT hit the market. Down the line, in your opinion, has gen-AI affected global employment the way it was anticipated to? If yes, why? If not, why? If it’s the latter, do you see it affecting jobs on a big scale in the long run, say about 10 years from now?

Richard: While it’s true that nearly two years have passed since the release of ChatGPT 3.5, this timeframe is quite brief in the context of business and enterprise adoption. Enterprises typically take a considerable amount of time to integrate new technologies due to the complexities of change management, procurement processes, and de-risking.

Early adopters like Klarna have made significant announcements, such as job reductions due to AI integration. CEOs are increasingly inquiring about AI’s potential for job displacement. However, it’s essential to consider the SAMR model: Substitute, Augment, Modify, and Replace, to understand AI’s true impact on jobs.

For small and medium-sized enterprises (SMEs), the impact has been more immediate. Platforms like Fiverr and Upwork have seen freelancers facing reduced workloads in fields such as translation, copywriting, research, and design. Despite these disruptions, companies like Duolingo demonstrate that strategic integration of AI can lead to innovative growth rather than just cost-cutting measures.

The Hype vs. Reality of Gen-AI

Q2) Do you think gen-AI is overhyped? And is it a bubble, as some are now proclaiming?

Richard: The hype around generative AI is connected to its practical applications and the proficiency of its users. Unlike trends like the metaverse, generative AI tools provide immediate, tangible benefits. However, the effectiveness of AI depends heavily on user skill and the ability to adapt processes to integrate these tools.

For instance, an article mentioned Target’s implementation of a large language model for in-store employees, which reportedly wasn’t utilized effectively. This highlights a common misconception: the belief that AI can be implemented without addressing underlying data issues. Proper AI integration requires robust data management and a clear understanding of AI’s capabilities.

From a sustainability perspective, providing free AI services that consume vast amounts of energy is challenging. While there are concerns about the long-term economic and environmental sustainability of AI, the real issue is whether people can effectively harness tools like ChatGPT. Those who adapt will thrive, while those who do not may find themselves left behind.

The Future of Education in the AI Era

Q3) How do you see the world of education pivoting because of AI? Will formal classrooms disappear after some years and turn into a one-on-one kind of learning experience, i.e. AI and 1 student?

Richard: Educational leaders often react with a bemused smile to predictions about the death of traditional classrooms. Despite numerous technological advancements, traditional classrooms remain essential. Some believe classrooms might become less visibly technological, with technology running in the background to enhance the learning environment.

In the UK, the influence of dedicated teachers is a significant factor in students continuing their studies. AI-generated personalized education is not imminent. However, there are concerns about the data teachers are inputting into AI models like ChatGPT, potentially training these models on teaching methods.

While AI transforming education seems distant, we must remain vigilant. Disruptive forces can radically alter various sectors, including education. Currently, AI can alleviate the workload of overburdened educators by creating lesson plans, curriculums, quizzes, and presentations. Custom GPTs can be developed for homework assignments, allowing students to interact with AI for iterative feedback.

AI also benefits students whose first language is not English, aiding communication with teachers and administrators. However, access to AI tools does not automatically translate to proficiency. Socioeconomic factors play a crucial role in effectively utilizing these tools.

Moving Forward

While traditional classrooms will remain, they will be enriched by AI technologies supporting teachers. To stay competitive, the UK must upskill its population to harness these tools effectively. Without this, we risk falling behind in the global educational landscape.

For more in-depth insights and to read the full interview, visit the “AI For Real” newsletter here.

Written by

Richard Foster-Fletcher

Richard stands at the forefront of ethical artificial intelligence as an AI Advisor, Author, Speaker, and LinkedIn Top Voice. He is the visionary behind MKAI.org (Morality and Knowledge in Artificial Intelligence), an initiative dedicated to fostering AI’s responsible development and application. Through his stewardship of the Boundless Podcast, Richard delves into discussions about AI inclusivity and digital ethics, contributing to a more equitable technological future. His profound insights have illuminated lecture halls at globally renowned institutions, including the London School of Economics (LSE), University College London (UCL), Oxford University, and Imperial College London, guiding the next generation of tech leaders.

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Richard delivered a truly engaging and thought-provoking session at our Director As Strategic Leader programme. His insights into the opportunities and challenges of AI were both enlightening and inspiring. Richard highlighted the need to channel AI advancements into creating new roles and fostering grassroots innovation, emphasising the importance of responsible AI development. His ability to articulate complex concepts in an accessible manner made the session highly impactful. Richard’s emphasis on transparency, accountability, and aligning AI with human values resonated deeply with our participants. We were delighted to have him speak and look forward to future collaborations.

Graham Bell, Director of Digital Education at Cranfield School of Management

Richard is a thorough professional who takes his work seriously, is knowledgeable and possibly the best at spreading the word about AI. Richard’s probing questions about this subject, make you think. He gets the best out of you!

Nikhil Malhotra, Chief Innovation Officer, Tech Mahindra

Richard delivered an insightful and thought-provoking talk on the expansive implications of artificial intelligence on society, the future of work, and ethical considerations. His ability to articulate complex concepts in an accessible manner prompted a dynamic and engaging discussion among attendees. Richard’s presentation not only highlighted the potential risks and rewards of AI adoption but also encouraged a deeper understanding of its impact. The session was very well-received, sparking meaningful dialogue and a multitude of questions from an engaged audience. We are appreciative of Richard’s contribution to our event and his role in advancing the conversation around AI. His expertise and passion for the subject matter were evident and greatly appreciated by all participants.

Andy Murray, Executive Director at Major Projects Association

Richard has the unique ability to bring out the best in a person. He has three rare qualities to achieve that: incredible empathy, a deep cultural background, and an open mind second to none! I’ve been interviewed all my life on national television, radio, newspapers, conferences, and podcasts. Richard tops them all! He pierces right through the surface with his eagle vision into the core of how we perceive life. My mind sees connections everywhere and in everything. Richard sees that in everybody. Do not miss a chance to sit down and talk with Richard! You will probably learn incredible things about yourself, your work, and the world! Talking with Richard will take you to the next level.

Denis Rothman, AI Expert & Ethicist | Author & Speaker

Richard’s keynote at our recent EMEA Conference was both enlightening and engaging. His presentation, “AI in Action – Balancing Innovation and Integrity in Decision-Making” adeptly addressed the complex interplay of AI innovation and ethics, enhancing our understanding of these critical issues. Richard combined humour and humility to make the intricate topics of bias and the future of work approachable, while his interactive style enriched our session. We are grateful for his significant contribution to the conference and for advancing the conversation on ethical AI.

Megan Hendricks, Executive Director, MBA Career Services & Employee Alliance

Richard Foster-Fletcher is an asset to humanity. He brings intelligence and heart to our ever-changing future. He’s a team player who cares about people and their important role on the planet as stewards for future generations. He is a great communicator and thinks outside of the box when creating solutions to difficult problems. Richard also sees the value in healthy partnerships when expanding new ideas. It’s an honor to work with Richard.

Laura Cox, Executive Producer

I thoroughly enjoyed my recent conversation with Richard Foster-Fletcher. His thoughtful approach to the important intersections of AI, ethics, and education allowed us to explore critical issues in a way that was both engaging and insightful. Richard brings a unique perspective to these discussions, and I appreciated the depth and clarity with which he led our conversation.

Dan Ariely, Professor of psychology and behavioral economics at Duke University

Richard Foster-Fletcher delivered a truly engaging and thought-provoking keynote at the AI Tomorrow Summit 2024 in Türkiye. His insights into the transformative potential of AI for Türkiye’s economy were both enlightening and impactful. Richard’s emphasis on the pivotal role of generative AI for SMEs, the importance of upskilling, and ethical considerations in AI development resonated deeply with our audience. His ability to articulate complex concepts with clarity and relevance made the session highly valuable. AIPA were thrilled to have Richard speak and look forward to future collaborations.

Ulas Malli, Board Member, AIPA

Richard provided an excellent platform for our discussion, skillfully getting to the heart of the matter and allowing me to share my views effectively. His thoughtful questions, combined with a warm and engaging manner, made for a truly insightful conversation. I appreciated his genuine interest and the respectful way he facilitated our discussion.

Sir Anthony Seldon, Author, Historian and Educator

The physicist John Wheeler once remarked, “We shape the world by the questions we ask.” If that’s so, then Richard is shaping the world. I had the pleasure of joining him as a guest on his podcast and was *profoundly* impressed with the depth, generosity and thoughtfulness of his questions. He’s a star!

Andrew Zolli, Chief Impact Officer at Planet