The APEC CEO Summit 2024, which took place last month in Lima, Peru, brought together government and private sector leaders to discuss the future of AI and its potential.

Vobile CEO Yangbin Wang participated in a panel titled "The Opportunities And Challenges in the AI Revolution" alongside H.E. Anwar Ibrahim, Prime Minister of Malaysia; Zia Mansoor, Vice President of Data & AI at Microsoft; Karan Bathia, Vice President of Government Affairs & Public Policy at Google; and moderator Jan De Silva, Member of the APEC Business Advisory Council (ABAC) Canada.

The wide-ranging discussion covered the immense potential of AI and the critical need for governance and transparency in its deployment.

Each speaker shared their insights around AI with a few emerging key themes, including AI’s ability to transform industries and improve productivity across various sectors. They also covered the broader implications of AI for the digital economy and the need for cooperation and infrastructure development to support AI deployment. The panelists emphasized the need for responsible AI development and ongoing skill enhancement, which are crucial for creating a future where AI benefits everyone.

Prime Minister Anwar Ibrahim: Emphasizing Inclusive Growth

Prime Minister Anwar Ibrahim shared Malaysia's commitment to digital transformation, emphasizing that AI must drive inclusive growth. He highlighted Malaysia's remarkable digitalization efforts, with digital access exceeding 97% of the population and significant investments from global tech giants. The Prime Minister stressed the need to address the digital divide and ensure that urban and rural populations benefit from AI advancements. He advocated for democratizing access to digital tools, ethical considerations in AI deployment, and substantial investments in upskilling the workforce to prepare for an AI-driven future.

Zia Mansoor: Realizing AI's Tangible Value

Zia Mansoor of Microsoft shared compelling insights on the tangible value AI brings to various sectors. He cited an IDC report showing a significant increase in AI adoption, with a notable return on investment. Mansoor shared examples from agriculture and healthcare, demonstrating how AI is transforming industries by increasing efficiency and profitability. He highlighted the critical challenge of AI skills development, emphasizing Microsoft's efforts in training millions in digital technologies to bridge the skills gap and ensure widespread AI proficiency.

Yangbin Wang: Protecting Intellectual Property in the AI Era

Vobile CEO Yangbin Wang discussed the evolving challenges of intellectual property (IP) protection in the age of AI. He highlighted the potential of AI to generate new content and the corresponding need for robust IP management systems. Wang stressed the importance of developing technologies and policies to protect IP rights, ensuring that the creative industry continues to thrive. He also pointed out AI's role in democratizing content creation, enabling smaller creators to reach global audiences through advanced AI tools.

Karan Bathia: Addressing the AI Divide

Karan Bathia of Google focused on the importance of infrastructure, skills, and sound public policy to prevent the AI divide. He emphasized the need for investments in connectivity, energy solutions, and data centers to support AI deployment. Bathia also discussed the importance of proactive strategies for training the workforce, citing Google's initiatives in providing AI education and creating career certificates. He highlighted the need for collaborative efforts between the private and public sectors to ensure inclusive AI development.

A Collaborative Path Forward

The panel at the APEC CEO Summit 2024 highlighted the potential of AI while stressing the need for governance, ethical considerations, and collaboration between the public and private sectors. As AI continues to reshape industries and economies, the insights shared by these leaders provide a roadmap for harnessing AI's opportunities while mitigating its challenges.