Cutting Through the Noise: Understanding AI Through History and Practical Application

In this episode, John Kaplan and John McMahon are joined by Devavrat Shah, CEO and co-founder of Ikigai Labs and MIT professor, to demystify the rapidly evolving landscape of artificial intelligence. The conversation spans a wide array of crucial AI topics including the history and applications of AI, causal inference, explainability, and the integration of AI into sales and forecasting processes. Key highlights include the role of AI in consumption pricing, business model transformations, and job market impacts. Shah underscores the importance of governance, ethical use, and education in AI, offering valuable insights into AI tools from Ikigai Labs and their practical implementations in sectors like healthcare, supply chain, and BFSI. The discussion concludes with a focus on the explosive growth of AI, urging businesses to invest in internal education and to approach AI adoption with a 'proof of value' mindset for sustained success and global upskilling. ADDITIONAL RESOURCES Connect and learn more about Devavrat Shah: https://www.linkedin.com/in/devavrat-shah-63b59a2/ Learn more about AI through Ikagai Academy: https://www.ikigailabs.io/ai-academy Check out Force Management’s guide on implementing AI for B2B Sales teams: https://hubs.li/Q02TG4tZ0 Enjoying the podcast? Sign up to receive new episodes straight to your inbox: https://hubs.li/Q02R10xN0 HERE ARE SOME KEY SECTIONS TO CHECK OUT [00:03:02] History and Evolution of AI [00:06:21] Understanding AI Terminology [00:18:37] The Role of Explainability in AI [00:26:45] AI in Consumption Pricing and Forecasting [00:33:33] Future Possibilities and Implications of AI [00:35:58] AI's Role in Healthcare and Decision Making [00:37:08] Human-Machine Interaction and AI [00:38:29] Embracing AI Tools in Daily Life [00:40:33] Challenges and Governance in AI [00:42:44] The Importance of AI Governance [00:49:10] Introduction to IKIGAI Labs [00:54:13] AI's Impact on Industries and Consumers [01:01:18] The AI Revolution: Why Now? HIGHLIGHT QUOTES [00:03:15] "AI, statistics, machine learning, data science, for me, all of those terms have intimate relationships." – Devavret Shah [00:04:32] "Humans primarily do two things really well: mind and muscle." – Devavret Shah [01:00:27] "Don't just rush into AI because it's cool. Carefully choose where you go." – Devavret Shah [01:00:51] "Have internal champions who should be educated in terms of how to use AI." – Devavret Shah [01:04:13] "It's time to just upskill a little around AI so that we are not left behind." – Devavret Shah