We must “act decisively so that technological progress translates into human progress. AI must remain at the service of the person, of the dignity of work, of responsibility and above all of freedom. Only in this way will change not be a threat to defend ourselves from". This is the message launched by Governor Fabio Panetta during his speech at the conference organized by Bank of Italy together with For and entitled “Finance for innovation and artificial intelligence as levers for development”.
Panetta: "IA can contribute to reviving Italian productivity."
“In my final Concluding Remarks I recalled that a widespread and timely diffusion of AI can contribute significantly to the relaunching productivity in our country”, said Panetta, speaking of a significant opportunity for the Italian economy and benefits that AI can have in manufacturing"Artificial intelligence can help prevent failures, reduce waste, optimize the use of energy and materials, accelerate design, and improve product quality. It can transform the data accumulated in production processes into knowledge, innovation, and efficiency," the governor stated, emphasizing that the impact will go far beyond these aspects and will affect "work organization, training, and the very way we make decisions."
"As with every major technological transformation," he explained, "some activities will change profoundly, while others will emerge. The difference compared to the past is the speed of change. For this reason, the transition must be prepared and managedWe need to invest in skills, support the most vulnerable workers, and prevent benefits from being concentrated in just a few companies, sectors, or regions.
Panetta: "Building the conditions for AI to become a driver of development"
To make the most of the benefits of artificial intelligence, we need “huge investments by companies, many intangibles: research, software, data, skills, organization. These are investments that are difficult to evaluate from the outside, often risky, with uncertain and distant returns,” said Panetta, according to whom this is precisely where “the financial system comes into play. Because without adequate financeInnovation remains an idea; with patient finance, venture capital, and deeper markets, it can become growth, employment, and competitiveness,” he added.
For the number one on Via Nazionale, “Italy and Europe are not starting from scratch. They have savings, research, businesses, and skills. But too often, resources aren't combined on the scale needed to support the most ambitious projects, and sometimes even the least ambitious ones."
It is therefore necessary, "strengthen the capacity to mobilize capital towards companies that innovate, grow and transform research into concrete applications", but also "to ensure that artificial intelligence does not remain confined to the technological frontier, but become a widespread lever for development; and create the financial conditions for this transformation to take place in Italy and in Europe."
