In the past five years, AI has exploded. From enabling tasks that previously took hours to now taking minutes, to the challenges of “deep fakes” infiltrating business platforms with data breaches – AI is both exciting and daunting. How do we best harness the invaluable benefits and opportunities AI brings, while protecting ourselves and our businesses from its potential drawbacks or dangers? This topic was the inspiration for our Fall 2024 Women in Business Series virtual event.
Four AI visionaries and entrepreneurs joined MCB for a fascinating 60-minute discussion, covering insights from their own experiences, as well as those of their clients in both the federal and commercial sectors. Topics addressed included how AI is shaping the future and strategies on using AI, as well as challenges we must navigate to use it responsibly. Members of the panel included: Anu Jekal, co-founder and CEO of Data Surge, Kara Dickey, president of SmartCom Solutions, Justin Marciano, co-founder and CEO of Validia and Rachel Leininger, Senior Transformation Manager of DataSnipper.
The event began with the panelists discussing business challenges that AI can help alleviate. Rachel talked about the sheer volume of data that business teams are facing — ever-increasing amounts of data that must be compiled and organized for analysis. DataSnipper products extract, cross-reference and verify data, automatically matching Excel data with supporting documents, ultimately eliminating repetitive and time consuming tasks. This is just one example of the many ways AI tools can unlock efficiencies and boost productivity.
Expanding on potential challenges for businesses, Anu voiced a concern over the fact that many organizations don’t have internal teams designated to strategize and oversee implementation around AI. “You have this incredibly powerful and transformative AI technology and it doesn’t actually get applied properly,” she shared. She suggests setting clear objectives and metrics that are measurable to analyze the impact and return.
Added Justin, “there is a technology that is advancing exponentially, the ability to understand it is advancing linearly and the ability to regulate it is moving even slower.” That presents many problems for organizations seeking to stay on pace with advancements.
As some are still skeptical about AI, Kara spoke about building trust with clients, and the importance of clearly explaining to clients how your team arrived at certain results or outcomes. Transparency is key to building and maintaining trust around AI.
All of the panelists agreed that this is a most exciting time for the AI revolution, especially when it comes to the possibility of solving some of the greatest problems we face. Justin spoke with great enthusiasm about the wave of massive technological advancements that AI has already made possible and will continue to foster.
Anu spoke about important progress AI has made possible across many industries; from healthcare to energy management, communities are seeing benefits that are literally saving lives and contributing to a more sustainable planet.
MCB’s Rui Sun, who served as event moderator, was able to also share her own insights as she led a team using AI to streamline audit processes for clients. “Over the past few years, we have implemented several automation and AI tools for our audit, tax, and outsourced accounting practices. I was amazed to see how everyone on our team embraced the changes, and with that mindset we have experienced how AI transformed our daily work procedures and improved our efficiency and effectiveness.”
Added Rui, “Since this is such a rapidly expanding field, we – especially women in business – have a tremendous opportunity to shape this technology in ways that reflect diversity, ethical considerations, and accessibility.”
Closing comments were shared about opportunities for women to lead and make an impact, as women have historically been underrepresented in stem and technical roles. Anu encouraged everyone in the audience to advocate for diversity and inclusion at their workplace – “this is our collective responsibility.” She also encouraged women to pursue learning and develop leadership skills by attending conferences and pursuing certifications to build expertise and stay competitive.
Don’t miss our next Women in Business Series event in Spring 2025! Follow us on our social channels and make sure to subscribe to our blog to stay in touch!
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If you have any suggestions for future Women in Business Series topics, kindly submit them to us at [email protected].