DCPA17 Keynote AI Making Things Smarter: Leon Katsnelson, self described CTO, Entrepreneur, Big Data junkie, Data Science innovator, Cloud, Blockchain curious, Mentor, Educator, and Speaker took the stage at DCPA17 to discuss ‘AI and what it means for CPAs’.
DCPA17 Keynote AI Making Things Smarter
Demonstrating where AI was already making an impact in products (and people’s lives) a certain refrain became established: AI makes stethoscopes smarter, AI makes syringes smarter, AI makes fraud detection processes smarter, AI makes T&E management smarter.
You get the picture. It reminded me of an old, old, old BASF advertising campaign, “We don’t make ______, we make _____ better.”
Similarly, Katsnelson summarized his presentation this way “Take X and add AI.”
He went on to say that machine learning is like a rocket engine and data is the rocket fuel.
As he points out, thought leaders like Jeff Bezos, Jack Ma, Sundar Pichai, and Mark Cuban are taking AI seriously and he quotes Cuban as saying the next trillionaire will be made thanks to AI.”
In a recent Tech Target article, ‘Using AI for finance is easy to image, but hard to do,’ Katsnelson shared these observations:
At the least, AI has already started shifting the role of CFOs, said IBM’s Katsnelson. Previously, he said, the expectation of a CFO was to keep accounts straight and be aware of potential regulatory and compliance issues.
“They focused on product rather than outcome,” he said. With AI and other technologies, “there’s an expectation to also be the driver of business strategy. You can’t survive by being efficient only.”