LVMH Embraces AI to Enhance Human Expertise, Not Replace It

Addressing concerns about the role of artificial intelligence (AI) in the workforce, luxury giant LVMH emphasizes its commitment to using AI to complement human talent rather than supplant it.

According to Axel de Goursac, Director of AI Factory at LVMH, the company sees AI algorithms as tools to enhance the capabilities of human workers, rather than as substitutes. Speaking at Viva Tech Paris 2024, Goursac stated:

"Our aim is not to replace humans but to augment them with artificial intelligence..."

This stance from LVMH provides reassurance to workers anxious about the potential for AI to automate jobs and make human labor redundant.

LVMH emphasizes that humans will continue to play a central role in the creative process within the luxury goods industry. Goursac explained:

"The creative process remains inherently human, but generative AI can enhance and complement that process."

One of the key applications of generative AI at LVMH is streamlining the product development process, reducing costs, and accelerating time-to-market for new products.

Echoing LVMH's perspective, Robin Li, CEO of Baidu, sees the development of artificial general intelligence (AGI) as a solution to global population decline. Li remarked during his speech at Viva Tech Paris:

"If AI reaches human-level intelligence, it can address human challenges... Generative AGI has the potential productivity of billions of people. While the race to AGI is uncertain, its development promises improvements for all."

These insights emerge amidst growing investor interest in AI, coinciding with a $6 billion Series B funding round secured by Elon Musk's company. This funding aims to position its Grok chatbot as a competitor to ChatGPT by the end of 2024.

The $6 billion investment represents a significant milestone for xAI, catapulting its valuation to $24 billion just 11 months after its launch in July 2023.

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