Accenture’s Chief Responsible AI Officer, Arnab Chakraborty, emphasized that AI is not a side project but a core business strategy at the recent Fortune Brainstorm AI conference. This insight comes from a collaboration between Accenture and Telstra that led to the formation of a joint venture, bypassing traditional corporate structures.
To adapt to the fast-moving market, Telstra and Accenture had to break free from the rigidity of annual budget cycles. This bold move allowed them to create a new company focused on data and AI, bringing innovation from both the telecom and consulting worlds. Chakraborty stressed the importance of considering people and culture when driving AI adoption.
Telstra is simplifying its data ecosystem by consolidating 80 platforms into just three, with plans to finish within 18 months. The company is also focusing on being more adaptive and agile in response to the rapid pace of AI advancements. A generative AI tool called “Ask Telstra” was introduced to frontline staff, receiving positive feedback and showcasing the readiness of workers to adopt AI.
To address concerns about AI replacing jobs, Telstra introduced an “AI Academy” to actively reskill employees. Trust is a critical element in AI adoption, with executives emphasizing the importance of leadership commitment and building trust in AI systems. The human aspect of AI adoption, including addressing pain points and reskilling employees, is crucial for successful implementation. 1. The FDA has approved a new drug for the treatment of Alzheimer’s disease. Aducanumab, marketed as Aduhelm, has shown promising results in slowing the progression of the disease in clinical trials. This is the first new treatment for Alzheimer’s in nearly two decades.
2. The G7 summit concluded with world leaders committing to donate one billion Covid-19 vaccine doses to poorer countries. The leaders also discussed climate change, China, and global tax reforms. The summit marked President Biden’s first overseas trip since taking office.
3. A heatwave is sweeping across the western United States, with temperatures reaching record highs in several states. Meteorologists warn of dangerous conditions, including wildfires and heat-related illnesses. Residents are advised to stay hydrated and seek shelter in air-conditioned spaces.
4. Tesla CEO Elon Musk announced that the company will no longer accept Bitcoin as payment for cars. Musk cited concerns over the environmental impact of Bitcoin mining. The decision caused the price of Bitcoin to drop sharply, leading to a broader sell-off in the cryptocurrency market.
Read more at Yahoo Finance: ‘the data and AI strategy is not a separate strategy, it is the business strategy’