Artificial Intelligence (AI) is set to initiate a transformative change across the world, with high potential to significantly boost the global economy by 2030, according to PWC’s predictions. Its applications seem endless, ranging from automating mundane tasks to crafting intricate data analysis algorithms. It’s an invaluable tool in today’s fast-paced world, due to its capacity to learn and adapt.
There is an anticipation that businesses integrating AI will benefit from enhanced efficiency and innovative problem-solving capabilities. However, along with immense benefits, also comes the challenge of confronting ethical concerns and data security issues associated with AI. Despite such concerns, the general trend indicates a bright future for AI, unearthing new opportunities for economic growth and development.
Microsoft, a tech titan, supports promising startups through its Entrepreneurship for Positive Impact initiative. This program is designed to encourage entrepreneurs to respond to global societal issues, hence leveraging the vast potential of AI to drive positive social change.
Globally addressing societal issues with AI startups
Support to startups is only one way through which Microsoft uses its resources for promotion of innovation and advancement of technology for societal betterment.
The Entrepreneurship for Positive Impact Cup held in Paris was an ideal platform for five finalist startups to demonstrate how they incorporate AI in order to enhance societal benefit. It wasn’t just a competition, but an opportunity to discover the immense possibilities of AI in addressing social issues.
Witty, a Swiss startup and one of the finalists, introduced an AI-powered plugin that fosters inclusive communication in professional environments. It analyzes verbal communication and suggests substitutions for non-inclusive language, ensuring respect for every individual’s perspective within the organization.
Another startup, MeVitae, employs AI to scrutinize HR data, aiming to detect and address gender and race disparities within organizations. Their technology provides companies with a data-driven outlook on diversity gaps and recommends suitable solutions to effectively deal with such disparities, striving for workplace equality and fairness.
Sopht, a French startup, has an AI solution to help companies minimize environmental footprints, especially those emanating from IT operations. The software employs advanced algorithms for analyzing and reducing energy consumption and seamlessly integrates into existing infrastructures, making it a convenient option for businesses intending to enhance their sustainability practices.
The diversity of AI’s potential is notable in the efforts of these startups. From ripping the benefits of AI to promote workplace diversity to curbing environmental degradation, the future of AI is very promising. These businesses comprehensively embody AI-driven advancements, where AI is not just a secondary component, but a fundamental strategy towards achieving sustainable milestones.
