Tanmay Bakshi, a 14-year old AI scientist, gave his keynote speech on the final day of the Institute of Internal Auditors (IIA) International Conference in Dubai, discussing a variety of subjects from quantum computing to blockchain and artificial intelligence.
As well as several of the apps and programs that he has personally designed, Bakshi addressed a few favorite auditing topics from quantum computing to neural networks and blockchain.
The majority of his speech, however, was reserved for his thoughts on artificial intelligence (AI), and whether or not it is a threat to humankind.
Where will AI lead us in the future
“Everyone is scared of AI becoming so intelligent that we can’t understand what it’s doing,” he told the packed auditorium at Dubai World Trade Centre.
“But that’s a very far-fetched situation.”
“We as humans aren’t intelligent enough to worry that non-human artificial intelligence could supersede us.”
“AI itself will not become a threat to humans. it’s impossible to make sure that AI will be used for ethical purposes because you can’t control what people will do with the technology.
But the entire point is that while people may use it for something fraudulent, AI will, in turn, be used to stop those people,” on being pushed again on the dangers of AI, Bakshi explained further.
“It’s impossible to regulate the use of AI; it’s just another algorithm that will be used by anyone who has access to a computer. But AI will be used to counter those misuses.”
“Many people think that AI is meant to replace us in our everyday lives, but naturally this isn’t true. AI was created by us to allow us to do what we already do but in a better way.
“AI works with firms to allow for much less labor intensive work. It’s meant to empower us, allowing us to work in a much better way than we ever could have done before.
“AI can tell us where we need to focus our attention, where human auditors are required, raising those red flags, so we don’t have to. It will be limited to specific cases and narrow domains, but it will do amazing things in those narrow domains. AI is going to help us to be better.”
Why is AI essential?
“Lots of companies worldwide are working towards implementing Artificial Intelligence (AI) to solve exactly those problems.”
Tanmay, predicts AI will soon be at the center of how businesses operate.
“AI technology brings extra efficiency, accuracy, and speed to the table. It allows us to use the same technology that we’ve been using for decades in fields that they could never have been used in before,” he said.
“We can now implement human-intelligence requiring tasks at scale, meaning that businesses can now make sense of and use the 80 percent of unstructured data that currently sits around and does nothing.”
A current IT strategy is critical to good corporate governance, said Tanmay, who likened recent advances in technology to the “4th industrial revolution”.
“Thanks to the new technologies that the 4th industrial revolution is bringing, like AI, Blockchain, IoT, and so many more, almost everyone is moving at an ever-accelerating pace. Without having the extreme advantages that technologies provide, you end up falling behind, inevitably.”