Artificial Intelligence and Algorithms

“Artificial intelligence could have more profound implications for humanity than electricity or fire.” –Sundar Pichai, CEO Alphabet

“Companies have to race to build AI, or they will be made uncompetitive. Essentially, if your competitor is racing to build AI, they will crush you.” –Elon Musk, CEO SpaceX, Tesla, Twitter

“There will be two kinds of companies at the end of this decade: those who are fully utilizing AI, and those who are out of business.”  –Peter Diamandis

Staff on Demand, and the cultivation of Crowds and Community, are appealing in theory. In reality, their practical application demands massive amounts of digital technology to account for their sheer scale and complexity. Further, that technology must be connected to real-life applications. That connection comes in the form of Algorithms, which are managed not by human beings but by Artificial Intelligence (AI), the topics of this chapter. With the rise of large language models (LLMs) like ChatGPT and Stability AI, the World Economic Forum predicts that nearly 25% of jobs will be disrupted in the next five years. PwC Global estimates that AI will contribute $15.7 trillion to the global economy by 2030. The world’s biggest companies have already noticed—and they are leading the way in implementing AI.