TransformBase: The Intersection of Business, Investment, and Emerging Technologies
The Inaugural TransformBase event, held on November 9, 2023, in London, was a confluence of ideas and innovations in the realm of emerging technologies. The day focused on the investment and business adoption of AI and other cutting-edge technologies, offering deep insights into how these advancements are reshaping the social and economic landscape.
Fostering Innovation, Investment, and Trade
The event highlight was a keynote by Lord Johnston on fostering innovation, investment, and trade in emerging technologies. He emphasised the UK government's commitment to supporting entrepreneurs and investors in developing new technologies. The focus was on removing barriers to starting and scaling companies and partnering with tech innovators to foster a thriving ecosystem.
Keynote Fireside: AI and Humans in the Next Decade
A keynote fireside on AI and humans highlighted the exponential growth in AI capabilities, profoundly impacting jobs and the skills humans need. The conversation emphasised that while AI is augmenting human intelligence, it still lacks the multi-sensory comprehension of emotions that drive human empathy. However, AI's role as a "co-pilot" in enhancing soft skills like empathy and leadership was acknowledged, with a focus on using AI-guided coaching to improve social skills in professional environments. The session concluded that AI if focused ethically, can help humans become better versions of themselves.
The Future of Fintech and Emerging Technologies
The future of fintech was another key topic, examining the evolution of money from precious metals to fiat money and now to cryptocurrencies. The discussion pointed out the transformative role of AI and machine learning in financial services and the increasing adoption of blockchain for payments and transactions. The session highlighted the need for education and regulatory frameworks to manage the socio-political challenges these technologies pose, including the displacement of jobs and concerns about privacy and security.
Open Commerce in Developing Nations
A presentation on open commerce outlined the need for new platforms to streamline the antiquated and complex B2B commerce system. The speaker's company, operating in over 30 countries, including Africa and Latin America, emphasized the importance of technology in facilitating trade and financial inclusion. The session stressed the need for ambitious technology development and careful collaboration across entities to transform global B2B commerce.
Fostering International Dialogue
The event also included a discussion on fostering international dialogue to manage the risks and opportunities of AI. The UK's aspiration to be a leader in AI regulation and innovation was highlighted, emphasizing the need for education in government, academia, industry, and among citizens. The session underscored the importance of creating frameworks that enable AI development without stifling innovation.
Investing in AI, Cyber, and Emerging Technologies
Breakout sessions provided deep dives into investing in AI and cyber technologies. These discussions centered around the challenges of differentiating between leading-edge and bleeding-edge technologies and the importance of balancing hype with real traction in AI companies. The sessions highlighted the significance of problem-centric thinking for sustainable AI solutions and the potential opportunities in AI security.
Creating Trust in Emerging Technologies
Another keynote focused on creating trust in emerging technologies. It delved into the rapid advancement and accessibility of AI, emphasizing the need for responsible governance and democratizing access to ensure AI benefits society broadly. The session addressed concerns about the narrow demographic developing foundational AI models and the importance of diversity and inclusion in the application layer of these technologies.
Tech Nation Africa: Strategies for Growth
Tech Nation Africa's strategy unfolded in a keynote that underscored Nigeria's potential as a major market, particularly in the digital economy. The session highlighted the need for global collaboration and talent exchanges with Nigeria's tech ecosystem to harness its young, talented workforce and address socioeconomic challenges.
Developing a Skilled Diverse Workforce
A conversation on developing a skilled and diverse workforce to realize the benefits of emerging technologies was a highlight. It stressed the urgent need for reskilling initiatives, supported by government, education systems, and the private sector. The session pointed out the importance of diversity in STEM fields and the rising importance of soft skills alongside technical capabilities.
AI in Creative Industries
A discussion on AI and creative industries examined the complexities brought about by AI in media, advertising, and entertainment. Issues such as the lack of transparency, uncertain legal status of AI outputs, and the provenance of data used in training models were discussed. The session concluded that while AI poses challenges, it also offers opportunities to augment human creativity.
Conclusion
TransformBase 2023 brought together a diverse group of thought leaders and innovators to discuss and shape the future of technology. The event highlighted the crucial role of emerging technologies in driving sustainable economic growth, the importance of responsible AI governance, and the need for inclusive and human-centric approaches to technology adoption. As we look ahead, these discussions set the stage for a more interconnected and technologically advanced world, where collaboration and innovation are key to solving some of the most pressing challenges of our time. We can’t wait until next year and invite you to register to be kept up to date.
