Artificial Intelligence: Review of a Must-Read Book
Articles, books, and presentations periodically come to our attention we think business owners and their advisors ought to find valuable. This presentation is one of those. Review time is estimated to be about 20 minutes. Thinking time may be much longer.
Have you read AI Super-Powers: China, Silicon Valley, and the New World Order?
Answer: If you are a business owner or an advisor to business owners I strongly suggest you buy Kai-Fu Lee’s recently published book[1], read it, and carefully reflect on what you read in the contexts of business value, business transition, and how much different our world is likely to be when near- and longer-term AI related changes are virtually certain to occur ‘before our very eyes’.
If Charles Darwin, whose theories I discussed in my last post – see Change, Darwin’s Thesis, and Business Value and Transition – had an opportunity to read this book he just might say “I told you so.”
What is meant by the term artificial intelligence?
Answer: Artificial intelligence (AI) is an umbrella term used to describe the ability of a mechanical device (e.g. a computer or computer-controlled robot) and related programming and systems endowed with the ability to reason, discover meaning, generalize, self-correct, and – importantly in the context of deep learning – learn from past experience.
What is meant by the artificial intelligence term ‘deep learning’?
Answer: Deep learning is a term used to describe the use of computer algorithms to progressively manipulate large amounts of data to generate otherwise unobtainable, useful outputs that can be used to improve both commercial and non-commercial results.
Deep learning through algorithmic activity may prove to be the greatest business game changer of all – and hence to business-specific prospective value and in business-specific transition contexts.
Who is Kai-Fu Lee, and what does he know about artificial intelligence?
Answer: Dr. Kai-Fu Lee is the chairman and CEO of Sinovation Ventures[2], a China-based venture capital firm. Educated in the United States, prior to founding Sinovation Ventures he was President of Google China having previously held U.S. executive positions with Apple, SGI and Microsoft. Lee is said to be:
- one of the world’s most respected experts on Artificial Intelligence and on China.
- an oracle when it comes to predicting the future of technology in China.
A former Apple CEO likens Lee’s explanation of the ‘new AI world order’ to Steve Jobs early explanation of how personal computing would fundamentally change humanity.
See Dr. Kai-Fu Lee interviewed on CBS’s 60 Minutes earlier this year.
In 149 words, why should I read AI Super-Powers?
Refined Answer: Among many other things, Lee explains in his book why he believes:
- AI will advance quickly and exponentially.
- AI will create U.S. and China dominance, where the U.S. and China are culturally different.
- AI will result in job losses and in growing inequality both between and within countries.
- AI, in particular ‘deep learning’, will revolutionize dozens of industries. Business owners and their advisors need to read Lee’s book, and then interpolate what AI is likely to mean – both directly and indirectly – to their businesses, those of their clients, and to business value and transition options.
- Chinese government officials, entrepreneurs, and investors are “ramping up AI investment, research, and entrepreneurship on a historic scale”.
- Recent, powerful developments tip the balance of AI power in China’s direction.
Crass Answer: If you have to ask you probably shouldn’t. Instead, have fun until you don’t.
One Minute Survey
[1] Available at Amazon, Apple, and likely at your favorite bookstore.
[2] From the Sinovation Ventures website – August 2019: Sinovation Ventures is an established Chinese technology-savvy investment firm, started in 2009 by a team led by Dr. Kai-Fu Lee, with presence in Beijing, Shanghai, Shenzhen, Seattle and Silicon Valley. We currently manage an over $2B AUM between seven USD and RMB funds in total, and over 300 portfolio companies across the technology spectrum in China and the U.S. We are one of the first Chinese ventures firms establishing a presence and investment practice in the U.S.
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Ian R. Campbell has provided business valuation and transition advice to business owners and advisers for 50 years. See Profile.
In his retirement from active practice he:
- Advises a limited number of business owners with respect to valuation and their business transitions.
- Works to provide business owners and their advisors with thought-proviking business value and transition commentary.
Disclaimer: Blog content ('Content') does not constitute individualized business valuation, transition, economic, technology or investment advice. The ideas, views and opinions expressed in the Content are solely those of the author. Provided 'as is', Content is general in nature and may not be relevant to individual business facts and circumstances, may change without prior notice, may be incomplete, inexact, or incorrect for jurisdiction-specific or other reasons. Content is used at the reader's own risk.
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