From the AI Global Council: How AI is impacting various industries with JoAnn Stonier

The AI Global Council is a consortium of thought leaders and industry figures from a diverse range of backgrounds who have joined together in response to the rapidly evolving landscape of artificial intelligence (AI).

We recently sat down with council member and Chief Data Officer of Mastercard, JoAnn Stonier, to talk about how AI is going to transform various industries.

Watch the full clip here:

How will AI transform various industries?

In the healthcare industry, Stonier highlighted AI’s significant potential in aiding research and development efforts. AI has already been a game-changer in this space, proving instrumental in developing vaccines during the COVID-19 pandemic. She says we can anticipate further advancements in pharmaceuticals and even the development of cures through AI's ability to analyze vast data sets that were previously seen as too large to take full advantage of.

Stonier’s experience in financial services has given her a front row seat to the benefits generative AI brings to the field. Companies are already leveraging generative AI to manage risk of fraud, improve transaction security, and monitor compliance with financial regulations.

Stonier pointed out that any industry with complex product catalogs will be able to leverage generative AI to empower their sales teams to better meet the needs of their customers. AI-driven catalogs can provide sales teams with better access to product information, and leverage past purchase data to tailor offerings suited to the customer’s needs.

Creative industries can also expect to see significant efficiency upgrades. Stonier noted that while AI can simplify certain design-oriented tasks, the need for human creativity remains paramount. AI tools are becoming valuable assets for artists and designers, allowing them to explore new concepts and designs more efficiently, but that initial creative spark will still be needed.

Looking ahead, Stonier feels optimistic about the future of AI, predicting it will lead to more personalized products and solutions that can be delivered at a faster rate. But while the limitless potential of AI is intriguing, she feels it will take us time to figure out how we want to integrate AI into our lives.

Explore more from the AI Global Council

The AI Global Council serves as a forum composed of experts, policymakers, academics, and industry leaders who engage in pressing conversations about the amorphous reality of AI and how it is shaping the world.

For more information about the council, and to stay connected to their work, follow along on LinkedIn or get in touch with a member of our team.