Overcoming Negative Perception of Element AI with Trust Building Strategies

Slide Note

Element AI faces challenges of negative public perception due to media noise, lack of awareness, job loss apprehension, and workforce concerns. Recommendations include promoting positivity, building trust, global partnerships, and geographical expansion. Effective communication and addressing audience perceptions are key to overcoming these challenges and seizing opportunities in the AI industry.

nbenn Follow

Uploaded on Sep 25, 2024 | 0 Views

Download Presentation

Please find below an Image/Link to download the presentation.

The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. Download presentation by click this link. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.

E N D

Presentation Transcript

Element AI --Shaping trust with AI Presenting to: JF Gagne, CEO of Element AI Jan 2020 Presented by: Nanyang consulting

Agenda Agenda 1 2 3 4 5 6 Problems Recommendations Analysis Implementation Financials Conclusion 2

Problem Statement : Element AI and its industry faces challenges of negative public perception Negative Public Perception Media noise does not talk about benefits Media Unawareness of opportunities created by AI Apprehension regarding job loss Workforce Overcoming GenPop perception Doomsday Scenario Personal How can Element AI overcome its negative public perception and be ready to exploit opportunities in the future? 3 Problems Recommendations Analysis Implementation Financials Conclusion

Recommendations : Element AI can positively reinforce the benefits of AI solutions by building trust YouTube series AI for Good Promote positivity Global AI Consortium to promote innovation and benefits Innovation corridor Build Partnerships and trust Geographical growth into China and India Market Expansion By promoting positivity, building trust and expanding to the right audience, ElementAI is on the way to overcome its negative perception 4 Problems Recommendations Analysis Implementation Financials Conclusion

How to effectively communicate your vision? Capture attention Set common ground & explain processes Encourage and answer questions Re-iterate common understanding An effective communication strategy results in common understanding 5 Problems Recommendations Analysis Implementation Financials Conclusion

Audience Perception Analysis: End consumers are apprehensive of AI s use and are not fully skilled Unaware of AI use Lack of training/ education in the area Baby Boomers Distrustful about its use Not fully adopted its practices Gen X Apprehensive about job loss Training/ Upskilling in the area Increasing R&D Millennials Distrustful and untrained end-consumers are unaware of the benefits of AI, and are increasingly publicizing their reservations 6 Problems Recommendations Analysis Implementation Financials Conclusion

Partnership landscape: Organizations are natural partners in Partnership landscape: Organizations are natural partners in spreading the word of AI s benefits spreading the word of AI s benefits Public sector Private sector Government Education institutions (e.g. Universities) NGOs Healthcare Financial service Supply chain Other industries Element AI To make a difference for both Element AI and AI industry, identifying partners and building partnerships are needed. 7 Problems Recommendations Analysis Implementation Financials Conclusion

Risks and Benefits of Artificial Intelligence Risks Benefits Ease of operations Data Privacy Data Analytics leads to technological Identity theft advancements Job loss/ replacement Solves issues of human error (accuracy) High performance in extreme conditions Manipulation of people s personal lives Doomsday scenario Element AI must build audience trust to display that benefits overcome its perceived risks 8 Problems Recommendations Analysis Implementation Financials Conclusion

Scenario analysis : Situations in the event of AI not thriving Decrease in economic growth - Inefficient operations Cannot solve current crises such as water scarcity, fuel shortage, food shortage Insufficient social security - Disruption of social structure, revolutions AI is crucial for future development, and it is imminent that we work to see its growth 9 Problems Recommendations Analysis Implementation Financials Conclusion

Implementation (1/3) : Marketing Campaigns to promote positivity Marketing campaigns to promote AI for Good Brand ambassadors to promote benefits (eg: Neil deGrasse Tyson) targeting end consumers Youtube Series - Developments within a company (Eg: NatGeo s show How it s made); AI in medicine Marketing Campaigns to overcome negativity and to help businesses/ consumers understand the benefits 10 Problems Recommendations Analysis Implementation Financials Conclusion

Implementation (1/3) : Marketing Campaigns to promote positivity AI for Good global challenge/ hackathon - Open to the public - Collaborate with ElementAI and compete to provide solutions Apply solutions to solve real-world challenges - Focus on AI for good Paid Advertising of hackathon - Adwords, banner ads promoting solutions of AI Public inclusion in developing social solutions will spread a positive vision for AI 11 Problems Recommendations Analysis Implementation Financials Conclusion

Implementation (2/3) : Global AI Consortium and Innovation Corridors Approach companies to create global consortium Partnerships with governments - fine-tune regulations and moral standards - Promote AI on public platforms Government help to collaborate with public institutions (eg: Temasek) - Contracts for AI solutions - Build trust with the public Partnerships and contracts will allow Element AI to help businesses understand the need for AI solutions given the future of business 12 Problems Recommendations Analysis Implementation Financials Conclusion

Implementation (2/3) : Global AI Consortium and Innovation Corridors Participate in Innovation Corridors (Eg: Montreal, Hitachi fair in Tokyo) Allow audience to directly interact with AI solutions - Build trust between people and AI - Create an understanding for AI s use Transparency in exhibiting exceptional performance by companies - Directly impacting people Innovation corridors are a platform to allow people to directly interact with AI and increase awareness of its benefits 13 Problems Recommendations Analysis Implementation Financials Conclusion

Implementation (3/3): Expansion into Asia market with partnerships What Support the future growth of Element AI Asia market is ripe for Element AI Effective partnerships Why Why Asia? More young population, especially millennials Support from government (e.g. regulation, subsidies) Higher adoption rate of technology Tech-savvy mindset Why partners? Easier access to markets Less capital investment and marketing expenditure Collaborative operations Asia market expansion through partnership will be new growth engine for Element AI to achieve stronger business results. 14 Problems Recommendations Analysis Implementation Financials Conclusion

Implementation (3/3): Expansion into Asia market with partnerships How External partnerships Internal operations & HR Launch consulting projects with universities (e.g. SPAN projects in Zhejiang University) Set up Element AI scholarship and provide internships Develop an industry forum and pitch to potential clients in supply chain and financial services Establish local offices in Hangzhou, China and Bangalore, India Form business development teams to reach out to clients and partners Set up a mobility team from SG office to monitor the business in Korea, China and India Apply for subsidies and grants from government With the partnerships with universities and local clients, expansion into Asia market will fuel Element AI for long-term growth. 15 Problems Recommendations Analysis Implementation Financials Conclusion

Budget analysis on implementations Budget analysis on implementations 2020 2021 2022 2023 2024 In USD million Marketing Campaigns strategy Youtube series production expense Brand ambassador fee Hackathon development expense 0.5 0.1 0.2 0.5 0.1 0.2 0.3 0.1 0.2 0.3 0.1 0.2 0.3 0.1 0.2 Global AI Consortium strategy Contractual development fees Innovation corridor 0.2 0.2 0.2 0.2 0.2 1 1 1 1 1 Expansion into Asia market strategy Local office set-up expense Payroll for local teams Partnership development expense 0.5 0.2 0.2 0.2 0 0 0 1 0 0.5 0.2 0.7 0.2 0.2 0.2 Total implementation cost 2.7 2.6 2.5 2.7 3 Implementation cost associated with proposed strategies are marginal, while the financial benefits are significant. 16 Problems Recommendations Analysis Implementation Financials Conclusion

Conclusion : Element AI can positively reinforce the benefits of AI solutions by building trust Businesses (operational needs for AI Eg: supply chain) End-users Target audience Marketing campaign AI consortium Tech fairs Promotion of opportunities Overcoming GenPop perception Doomsday Scenario Risks Government institutions Universities Businesses Partners By promoting positivity, building trust and expanding to the right audience, ElementAI is on the way to overcome its negative perception 17 Problems Recommendations Analysis Implementation Financials Conclusion