• last updated : 04 July, 2023

Komal Sharma Talwar in an Exclusive Interview with Nikkei Business Daily, Japan

Category: Press Release
Nikkei Business Daily

Komal Sharma Talwar Explores the Power of Generative AI in Exclusive Interview with Nikkei Business Daily, Japan

Mrs. Komal Sharma Talwar, co-founder of XLSCOUT, recently spoke with Nikkei Business Daily in an exclusive interview about the transformative power of Generative AI and its potential effects on the global economy.

Here are some thought-provoking insights from the interview:

The adoption of Generative AI, a form of Artificial Intelligence, is predicted to have a profound economic impact worldwide, estimated in the trillions of dollars. Particularly significant are the advancements in large language models (LLMs)-related technologies, which have the ability to enhance company productivity by automating tasks like text analysis, information extraction, and content creation. This automation will result in reduced work time and costs, ultimately leading to a boost in a country’s gross domestic product (GDP).

In discussing the groundbreaking nature of generative AI, Talwar highlighted the rapid adoption of AI-related projects and content by companies worldwide. Notably, Talwar cited the example of the U.S.-based OpenAI’s interactive AI, “Chat GPT,” which garnered several million users within days of its release. This surge in AI adoption is expected to trigger a cycle of innovation in related technologies, opening up new possibilities for industries across the globe.

While acknowledging the potential benefits of AI, Talwar also addressed the challenges that arise with its development. One such concern is the potential threat to certain professions. Talwar emphasized the importance of maintaining a human-centric approach and called upon organizations and companies to assume responsibility for ensuring AI integration is carried out ethically and with human well-being at its core.

Data security was identified as another key challenge, as the use of user data in AI systems necessitates stringent safeguards. Talwar suggested that the best way for AI to complement human capabilities is through a division of roles, where monotonous tasks are assigned to AI while humans focus on tasks requiring imagination and strategic decision-making. Achieving a harmonious balance between AI and human collaboration is crucial.

When considering how Japanese companies can thrive in the face of AI competition, Talwar pointed out that Japan’s high share of R&D spending as a percentage of GDP is a strength. However, it was noted that Japan’s share of global patents has declined over the past two decades, accompanied by a decrease in productivity and efficiency. Talwar emphasized the need for agile development, which involves rapid prototyping and continuous improvement, as well as swift integration of established technologies.

The role of agile startups was highlighted as pivotal in driving innovation, yet Japan’s domestic startup growth lags behind that of countries like the U.S. and Canada. Talwar suggested that Japanese firms should actively collaborate with advanced overseas firms, leveraging their expertise and knowledge to foster rapid integration and growth.

Finally, Talwar addressed the relationship between large companies and startups. She advised large companies to capitalize on their substantial resources and invest in startups with cutting-edge technologies, subsequently integrating them into their own businesses. By doing so, large companies can accelerate the adoption of groundbreaking technological innovations throughout their respective industries and economies.

In conclusion, Talwar’s insightful interview provided a comprehensive analysis of the economic implications of Generative AI. With her expertise and deep understanding of the subject matter, Talwar’s perspectives serve as a valuable guide for industry leaders and stakeholders seeking to navigate the transformative landscape of AI technology.

Here is the link to the article: TTコンサルタンツ代表「日本のAI競争、新興の成長カギ」 – 日本経済新聞 (nikkei.com)