Microsoft recently hosted an exclusive event in New York City as part of VentureBeat’s AI Impact Tour, focusing on the risks and rewards of AI applications. The event brought together industry leaders to discuss the ethical and transparent use of AI in enterprise settings.

VentureBeat CEO Matt Marshall and senior writer Sharon Goldman welcomed Sarah Bird, global lead for responsible AI engineering at Microsoft, along with Dr. Ashley Beecy from New York Presbyterian Hospital and Dr. Promiti Dutta from Citi. The experts shared insights into the impact of generative AI on their respective organizations.

Sarah Bird highlighted the increasing sophistication in organizations’ understanding of generative AI and the best practices in managing the risk-reward trade-off for specific use cases. Dr. Beecy emphasized the importance of identifying crucial use cases and urgent problems, rather than applying AI for the sake of it, to effectively manage risks and rewards. She outlined the focus on reducing provider burnout, improving clinical outcomes, enhancing patient experience, and streamlining backend operations at NY Presbyterian.

Dr. Dutta discussed the paradigm shift brought about by generative AI at Citi, emphasizing the increased availability of data and compute power. She emphasized the need to align use cases with internal policy, especially in highly regulated industries like finance and healthcare, to ensure compliance with best practices and thorough testing.

The event shed light on the evolving landscape of AI applications in enterprise settings and the need for responsible and ethical implementation to maximize the benefits while managing the associated risks.