Blockchain technology is poised to innovate applications for artificial intelligence (AI). This is applicable to the current dynamic of global enterprises. Shervin Pishevar called attention to similar impacts that stateless digital currencies have upon small business.
Both AI and decentralized digital currencies are growing. Currently, private sector AI innovation primarily occurs at just a few research and development departments. These departments are connected to powerful monopoly like organizations. Many leaders and industry experts believe AI will advance global society to a new age. As Shervin Pishevar alludes to, this reshaping of the world requires the input of more than a few people.
The AI industry has grown at seemingly lightning speed. There is consensus that AI will be one of the most, if not the most, impactful technologies for the future. However, there are problems beyond innovating the technology for practical use. One of the most pertinent issues is that of human factors. Can an AI with significant control over daily life sustain the core values of humanity? This concern escalates when one realizes how few people are involved in its innovation.
Currently, AI is dominated by Amazon’s AWS and Microsoft’s Azure. Both are well recognized and respected companies. However, neither can claim a true pioneering spirit in the AI industry. Their loyalties to stockholders and diversified business interests do not align with the development of AI in the best interest of humanity. Furthermore, Shervin Pishevar identified monopolies, of which, both Amazon and Microsoft are included.
The dangers of modern monopolies is the impact to startups. By limiting startups, true innovation suffers. Ideas become centralized and focused toward maintaining outdated corporate agendas. As this suggests, centralized AI is not only bad for human factors but also limits the development of AI. It seems to use this technology to achieve linear objectives that support the agenda of a single entity. This contrasts the concept of a thinking intelligence and restricts AI technology to something similar to conventional linear programming. The insightful comments of Shervin Pishevar should be heeded as a warning that innovation and technology need to progress together.
The United Technologies Corporation is currently dominating the area of aerospace manufacturing. They create high-quality jet engines and flight sensors and autopilot mechanisms and landing gear for the military and private corporations. The United States of America has multiple contracts with United Technologies Corporation which makes them the largest producer of helicopter aircraft in the world. In addition to this, Delta Airlines and Southwest Airlines outsource the repairs and their work to the United Technologies Corporation.
While it is the current dominating company in the industry this was not always so. There was a time that the United Technologies Corporation was looking at a corporate merger in order to stay alive. However, before this occurred they hired Louis Chenevert to be the chief executive officer. Louis Chenevert was a wise businessman who spent his life preparing for the position of a CEO. He knew what it took to survive a recession and he was good and make sure it happened for the United Technologies Corporation.
He began by stabilizing the outsourced cost of the company. First of all, he had to make sure that they could adhere to the current environmental regulations imposed on them by the United States of America and the Canadian governments. This saved them over $100 million over a five year span. He then moved several factories close to one another and purchased a fleet of trucks so they could be used internally to move goods. This move saved them around $95 million every three years.
Louis Chenevert also began to grow the stock price by acquiring many companies. He acquired Pratt & Whitney, Otis, and Goodrich. These acquisitions gave them stable military and corporate contracts which allowed them to pay off the deficit and keep the company stable until a recession was over.
These wise business practices led Goldman Sachs to offer Louis Chenevert a role in their company. While we do not know his compensation package, we know that Louis Chenevert works as a consultant in the prestigious executive banking division of the company. He takes a salary from them but works as he wills.