WEC: AI’s transformative business potential

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WEC: AI’s transformative business potential

By Michael Pinchera | May 2, 2024

Tim Altbaum, CEO of Vario, discusses his experience with and interest in artificial intelligence (AI), how he envisions it changing our world and more in advance of his May 21 WEC session, “AI Tools to Transform Your Business” (sponsored by Marriott).

(Yes, the above "headshot" was created with the use of AI—Tryiton.ai, to be precise.)

Is there a specific tech or use case that really hooked you and solidified your interest in modern AI?

Various AI tools have significantly revolutionized the methodologies employed in executing daily tasks essential to our business operations. Among these, prominent examples include ChatGPT and analogous question-response frameworks. Additionally, we leverage image recognition software, audio-video editing tools and facial analysis technologies to augment the efficiency of our internal teams and elevate the overall satisfaction of our clientele.

While AI isn’t going to “steal our jobs,” more widespread use of the technology can introduce some problems. What are some risks associated with the growth of AI in the meeting/event industry?

The primary risks associated with the integration of AI within the event industry are privacy concerns and ethical dilemmas related to copyrighted materials. An illustrative example involves the utilization of AI technology to replicate voices, enabling the synthesis of any phrase in a designated individual’s voice. While this innovation offers advantages, such as facilitating real-time utilization of prerecorded voices in the AV and production sector (referred to colloquially as “voice of god” applications), it also presents inherent risks. Specifically, if the data containing a person’s voice is compromised, it becomes susceptible to unauthorized usage for potentially malicious intents.

Furthermore, AI’s capacity to analyze vast amounts of online content may inadvertently overlook or fail to disclose the sources used in generating responses. This lack of transparency regarding the origins of AI-generated content raises concerns regarding the appropriate handling of copyrighted materials within event contexts.

Can you share an example of a task for which there is not currently an AI solution but for which you expect there will be AI solutions in the next year or so?

Although current AI systems are capable of basic sentiment analysis and response generation, the ability to truly understand and respond to complex human emotions in a natural and empathetic way remains a challenge. However, with ongoing advancements in natural language processing, affective computing and machine learning techniques, we can anticipate the development of AI solutions that excel in these areas within the next year or so. Such advancements could have profound implications for various industries, including customer service, healthcare and mental wellness.

What are you most excited about regarding AI?

There are numerous aspects of AI that I find genuinely exciting, but if I had to pick one, it would be the potential for AI to augment human capabilities and solve complex problems in innovative ways. AI has already demonstrated its capacity to analyze vast amounts of data, recognize patterns and make predictions with remarkable accuracy across various domains. Specifically for the meeting and event industry I’m particularly excited about the potential of AI to revolutionize attendee experiences and enhance event management processes.

What do you hope attendees take away from your session?

The objective of my presentation is to offer attendees a comprehensive insight into the latest AI tools directly applicable to our industry. Unlike many AI presentations that predominantly focus on theoretical concepts, my aim is to provide actionable resources that attendees can promptly integrate into their workflows. By highlighting practical tools and platforms, my presentation aims to empower individuals and teams to enhance their efficiency and effectiveness significantly, potentially saving substantial time and resources.

 

Author

michael-pinchera
Michael Pinchera

Michael Pinchera, MPI's managing editor, is an award-winning writer and editor as well as a speaker, technologist and contributor to business, academic and pop culture publications since 1997.