Speech on Artificial Intelligence by Arul Murugan, CEO 11-11 Ventures – IIM Americas ‘Pinnacle 2017’ event at Google

Pinnacle 2017 event at Google, Mountain View, CA on April 29 had best brains and thought leaders on AI. Had a great opportunity to be a speaker and more importantly discuss on state of the AI with both startups and leading AI enterprises like Google and Amazon. The best part was the pre-event dinner organized by Ashima Jain (President of IIM Americas and Managing Director, PwC), where I got to know all the speakers and volunteers.

During fireside chat, I discussed about valuations, adoption of AI, impact to economy / jobs and one of my investments – Adcuratio (bringing individualized advertisement to national television). Kohls is one of their customer and was great to have the CTO of Kohl’s as a panelist and bringing a real scenario.

My view in a nutshell:

AI is promising and capable of delivering real value. AI is not just a change; it is a transformation and we humans will eventually figure out how to adopt and use this technology in a positive way. AI supplements human brain and not a replacement. AI will spur economic growth and that net positive effect will find ways to replace jobs lost due to automation. We need to start re-skilling our workforce at the earliest.