‘Data cannot be in pockets; data should be shared. Data is power’: Professor Das Narayandas on firms using AI for 'transformation'
Speaking about the ‘transformational roles using AI’ by companies, Professor Das said, “I think in transformation is a is a powerful word. It's exactly the worst thing that you can do by calling whatever you do as your company going through a transformation."
- Dec 6, 2024,
- Updated Dec 6, 2024 8:14 PM IST
‘Data is power, data is oil’, said Das Narayandas, who is the Edsel Bryant Ford Professor of Business Administration at the Harvard Business School.
In a conversation with Rahul Kanwal, executive director, India Today, at the Business Today-India Today AI Conference 2024, Professor Das shared his insights on how data, AI and its holistic use is central to the optimum utilisation of artificial intelligence barring the hype around it.
Speaking about the ‘transformational roles using AI’ by companies, Professor Das said, “I think transformation is a powerful word. It's exactly the worst thing that you can do by calling whatever you do as your company going through a transformation. The people sitting in the room don't hear the word transformation they think my job is gone, and when someone gets a fear into their mode of ‘that’s gonna replace me’ the likelihood of support goes down.”
Elaborating further he said that the immediate future and in the world of business using artificial intelligence is all about if humans can be better. The best practice that the films that have been able to get things going are their leaders focusing on helping the people get better.
Professor Das feels that a lot of firms are building castle in the shifting sand when they say that they are using AI to transform their business. “Unless and until you have a data strategy there is no point having an AI strategy. Firms have to realise data cannot be in pockets, data should be shared. Data has to be universally available in the world for AI to work,” he said.
There are things that need to be done top down and bottom up, he added.
Speaking about machines getting smarter by the day and having ‘a mind of their own’ Professor Das said that he disagrees with the concept. As of today, machines can grasp things better depending on the inputs, he said, adding “we are still not in a world where machines can function on their own. They need objective function, they need objective content, they can process it faster, anaylse it faster.”
“But, if it is garbage in, it will be garbage out,” he said.
The Business Today-India Today AI Conference will explore the transformative impact of AI on innovation, industries, and everyday life. With sessions covering AI's real-world applications, emerging trends, and the ethical implications shaping its future, this event is set to be an in-depth look at the cutting-edge developments in AI.
For Unparalleled coverage of India's Businesses and Economy – Subscribe to Business Today Magazine
‘Data is power, data is oil’, said Das Narayandas, who is the Edsel Bryant Ford Professor of Business Administration at the Harvard Business School.
In a conversation with Rahul Kanwal, executive director, India Today, at the Business Today-India Today AI Conference 2024, Professor Das shared his insights on how data, AI and its holistic use is central to the optimum utilisation of artificial intelligence barring the hype around it.
Speaking about the ‘transformational roles using AI’ by companies, Professor Das said, “I think transformation is a powerful word. It's exactly the worst thing that you can do by calling whatever you do as your company going through a transformation. The people sitting in the room don't hear the word transformation they think my job is gone, and when someone gets a fear into their mode of ‘that’s gonna replace me’ the likelihood of support goes down.”
Elaborating further he said that the immediate future and in the world of business using artificial intelligence is all about if humans can be better. The best practice that the films that have been able to get things going are their leaders focusing on helping the people get better.
Professor Das feels that a lot of firms are building castle in the shifting sand when they say that they are using AI to transform their business. “Unless and until you have a data strategy there is no point having an AI strategy. Firms have to realise data cannot be in pockets, data should be shared. Data has to be universally available in the world for AI to work,” he said.
There are things that need to be done top down and bottom up, he added.
Speaking about machines getting smarter by the day and having ‘a mind of their own’ Professor Das said that he disagrees with the concept. As of today, machines can grasp things better depending on the inputs, he said, adding “we are still not in a world where machines can function on their own. They need objective function, they need objective content, they can process it faster, anaylse it faster.”
“But, if it is garbage in, it will be garbage out,” he said.
The Business Today-India Today AI Conference will explore the transformative impact of AI on innovation, industries, and everyday life. With sessions covering AI's real-world applications, emerging trends, and the ethical implications shaping its future, this event is set to be an in-depth look at the cutting-edge developments in AI.
For Unparalleled coverage of India's Businesses and Economy – Subscribe to Business Today Magazine