Guest Speaker: Scott Stirrett, Founder & CEO, VFC
18/07/2024 • 12:00 pm
This webinar focused on GenAI and its implications for individuals, organizations, and society, especially for small businesses and educational institutions, addressing prevalent uncertainties while emphasizing responsible adoption. It discussed the inconsistent adoption of AI, its effective use, applications in education, and concerns about privacy, data security, and diversity, highlighting the importance of intentional and conscious efforts in AI implementation.
Small businesses have varying levels of AI adoption, which is often shaped by the entrepreneur and the industry they operate in. Some businesses fully embrace AI across all functions, while others may have limited or no use of AI. Adoption tends to be higher among younger entrepreneurs and in industries like IT.
AI can be used in various ways in a social enterprise, such as predictive modeling for student success interventions or addressing academic integrity violations. It is important to be intentional about using AI and to continuously practice and improve prompt engineering skills. Trying out multiple AI tools can also help find the best fit for specific use cases.
Generally, any information that is public or already available on the internet can be used in AI. However, proprietary or confidential information should not be shared with AI models. It is important to be mindful of privacy, data security, and copyright issues when using AI tools.
AI has the potential to raise productivity by automating tasks and assisting in decision-making processes. It can also be used in predictive modeling to identify areas for skills development and training. However, it is crucial to consider the impact on workers and ensure that retraining programs are in place to support individuals in adapting to the changing job market.
AI models can have inherent biases due to the data they are trained on, which can perpetuate racial and linguistic biases. It is important to be aware of these biases and actively work towards addressing them. Companies are working on mitigating bias in AI models, but it is also the responsibility of users to check for biases and ensure fair and inclusive practices.
AI can be used in employment matching by analyzing resumes and job requirements to identify the best fit candidates. It can also assist in conducting mock interviews and assessing responses. However, it is essential to be cautious of biases and ensure that AI tools are used as supportive tools rather than replacing human judgment and decision-making.
AI can be leveraged in predictive modeling to identify factors that contribute to student success and design targeted interventions. By analyzing student data and patterns, AI can help identify at-risk students and provide personalized support to improve retention and academic performance. Additionally, AI can assist in monitoring academic integrity by analyzing patterns and detecting potential violations, such as plagiarism or other forms of academic misconduct, allowing educational institutions to take appropriate actions. It is important to ensure that AI tools are used ethically and in compliance with privacy regulations.
AI can analyze resumes and job postings to match candidates with the required skills for specific positions. By leveraging AI tools, employers can streamline the hiring process and identify the most suitable candidates. However, it is crucial to consider potential biases and ensure fair and inclusive practices in the matching process.
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