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On July 23, the latest NJBIZ panel discussion focused on a topic of great importance – especially given its rapid rise and adoption: artificial intelligence.

Hosted by NJBIZ Chief Editor Jeffrey Kanige, the discussion featured an esteemed group of panelists who brought great expertise and perspective, including:

• Brigette Eagan – partner, Genova Burns
• Michael Edmondson – associate provost for continued learning, New Jersey Institute of Technology (NJIT); vice president, The Learning and Development Initiative, New Jersey Innovation Institute (NJII)
• Jason Gulya – professor, English and Applied Media, Berkeley College
• Sameer Sethi – senior vice president and chief data & analytics officer, Hackensack Meridian Health

The more than 90-minute discussion covered a wide range of aspects related to this critical topic. Kanige opened up by noting the usage of AI.

Use it or lose it?

“Depending on which source you’re looking at, anywhere from 35% to 40% of the companies with a thousand employees or more globally have adopted AI,” said Kanige. “The rate is somewhat lower in the United States – significantly higher in countries like India and China. And what I hear, most often, when I talk to business owners and executives is a lot of concern about AI; a lot of worry about AI. In that they think they need it, if for no other reason than their competitors are using it, and they are going to get an advantage. And they are going to lose out if they don’t adopt it.”

Kanige asked all of the panelists how their organizations or clients are using the technology – if at all.

Sethi said that HMH uses AI in a few areas, such as for operational efficiency.

“This is where we build AI capabilities allowing our workforce to do their work better, faster – providing quicker turnaround or better quality,” said Sethi. “The second place is decision support. This is where we are building AI capabilities where our clinicians are able to make better and better decisions for their patients.”

The third piece is improving patient experience using this technology. Sethi noted areas where AI can come into play, such as preparing patients for procedures, educating them of their conditions or treatment options available, as well as supply chain management and more.

Proceed with caution

Eagan stressed that her firm really likes to understand its clients.

“For that reason, understanding different industries where our clients work and the issues that their industries confront — AI is very helpful in that regard,” she said. “AI made the news in the legal industry because attorneys have asked for briefs to be written by AI. There’s a lot of court cases where judges have said and adversaries have said – give me the cases cited in your brief because I cannot find them. They call it the AI hallucination. AI has fabricated the cases. So, we go carefully with AI in the legal profession.”

Replay: Artificial Intelligence Panel Discussion

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Edmondson noted that NJII had recently launched an AI division.

“Which is basically like a consulting arm of NJII where we go into businesses, understand their problem, and then help them determine really the best path for AI application – if there is one,” he explained.

Building blocks

Gulya said more and more students are using the technology. He pointed out that there are good and bad ways to use AI and it is rapidly evolving. Because of those factors, he said he approaches it as a coach.

“I’m coaching students as they try to figure out how to use this kind of technology in a responsible way,” he said. “And what ends up happening, at least ideally, is that students develop AI literacy.”

Gulya believes that AI literacy will be a fundamental skill needed for his students in their careers and if they have their own business, so that is what he is trying to cultivate.

The discussion then snaked through a number of areas, including the differences between generative AI, machine learning and other AI subfields; keeping the human element involved as technology advances; specific business functions that can be carried out more efficiently with AI; businesses where companies using it are gaining an advantage; potential dangers and pitfalls; and much more.

We will have more on this discussion in the July 29, 2024, NJBIZ issue.

Editor’s note: This story was updated at 10:38 a.m. ET July 25, 2024, to correct the spelling of Brigette Eagan’s name on second reference.