Recent research from Brock University adds to the growing conversation about the impact of generative artificial intelligence (GAI) on small businesses and non-profit organizations, emphasizing the balance between innovation and strategic oversight.
The Niagara Community Observatory's latest policy brief, titled Naviguring Generative AI: Implications for Small Businesses and Non-Profits, reveals insights from interviews with 14 representatives from various entities across Niagara and southern Ontario. These range from CEOs to employees involved in marketing, administration, and human resources.
According to Assistant Professor Kate Cassidy, co-author of the brief, employees often use GAI tools like ChatGPT independently, often inspired more by personal interests than organizational direction. “When organizations fail to plan for GAI, they risk missing out on its benefits or, worse, encountering unintended consequences,” Cassidy stated.
While respondents noted the enthusiasm surrounding GAI's capability to boost efficiency, the study also highlighted several concerns associated with its misuse. Issues included the potential for generating misleading information, bias perpetuation, copyright infringement, and the impact on employee well-being.
Assistant Professor Michelle Chen noted, “GAI has served as both a sounding board and brainstorming partner, helping employees overcome blocks. But overuse can lead to feelings of disconnection and unfulfillment.”
To navigate the integration of GAI effectively, the authors of the study recommend developing sector-specific workshops to improve digital literacy, raising awareness on ethical GAI usage, and creating knowledge-sharing forums. These strategies prioritize collaboration and decision-making, ensuring organizations leverage GAI's full potential.
Meanwhile, Georgian College is stepping up its educational approach with ambitious plans for smart technology aided by artificial intelligence. Through collaboration with Meta, Georgian is developing intelligent tutoring systems (ITS) to create personalized learning environments for its students.
By utilizing Meta's Llama 3 platform—an advanced open-source AI language model—the college intends to blend traditional educational techniques with innovative approaches such as augmented reality and immersive learning experiences. “This model envisions a flipped classroom,” said Yael Katz, Georgian's vice-president, academic. “Educators can shift from merely delivering content to fostering problem-solving and analytical thinking.”
The key areas of focus will initially include anatomy and physiology, with plans for extension across more programs. The project aims to allow students to interact with AI tutors via smart glasses and virtual reality setups, enhancing their learning through experiential and interactive technology.
Kevin Chan from Meta emphasized the potential for this collaboration to redefine education for the future, stating, “By innovatively using AI, Georgian College will prepare students for the work environments of tomorrow.”
Three phases of the plan are detailed: students will begin with smart glasses equipped with AI to study and identify concepts, then move on to augmented reality experiences, culminating with virtual reality-powered learning environments for comprehensive case studies.
Rob Theriault, immersive technology manager at Georgian College, remarked, “This platform promises to push students through all levels of learning and transform how education is delivered.”
Alongside these initiatives, the business world is seeing its own challenges and advancements as companies explore mergers and acquisitions involving AI technology. With the rapid advancement of AI, companies specializing in innovative technologies are becoming prime targets for acquisition, but the process is laden with unique challenges due to the self-learning capabilities of AI.
The need for thorough due diligence is emphasized as AI systems can change behavior unpredictably, which poses potential risks for acquirers. Tailored representations and warranties during M&A transactions are necessary to successfully navigate this complicated environment.
AI representations and warranties should ideally cover definitions of AI assets, ownership rights, data quality, and compliance with regulations, considering the nuances of AI deployment across sectors like healthcare and finance.
Legal insights provided by firms involved highlight the importance of clear representations addressing risks inherent to AI technology, as well as contingency planning for post-acquisition scenarios. Experts indicate this strategic foresight is key to maximizing value and minimizing liability.
All of these developments underline the transformative role of AI within both business and education, requiring stakeholders to adapt and engage thoughtfully with the technology. Continuous improvement of digital literacy and ethical practices surrounding AI will form the backbone of strategies aimed at maximizing the benefits of these innovative tools.