Moore to the Point: Artificial intelligence is here. Is South Carolina ready? – UPSTATE BUSINESS JOURNAL | CPT PPP Coverage

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As we move further into the 21st century, it is becoming increasingly clear that artificial intelligence will play a major role in shaping the future of our economy and our world. It is already presenting unprecedented opportunities for innovation and entrepreneurship. It also poses a significant challenge for our state, as up to 40% of jobs in South Carolina are at risk of being automated by AI in the next 15 years. That is over 700,000 of our neighbors whose jobs will likely be impacted soon. Considering that AI is developing faster than anyone anticipated, including the AI experts, these job displacements could also be arriving sooner than anticipated.

To ensure South Carolina and its communities are well prepared to compete in the future economy, we must take bold action. I believe there are two important steps we should take immediately.

First, we should identify and engage with various AI experts, locally and globally, to help understand the threats and opportunities facing us and to guide our planning for the future. Too often, incumbent stakeholders dominate planning activities for a state or community, but that approach has an inherent weakness during times of dramatic change. It’s at those times that we need the change agents themselves to help inform and guide the forward thinking since they are more knowledgeable about where things are heading than those of us trying to catch up. It will be imperative that we find the right AI expertise to come alongside our established leadership and bring us up to speed on the challenges and opportunities we are facing.

Second, we should develop a statewide AI strategy with government, industry and academic leaders at the table. However, the effort should be led, once again, by experts in the field of AI. It’s imperative that our strategy be well informed and action oriented with clear public accountability for results. A successful strategy will help ensure that South Carolina is well-positioned to take advantage of the opportunities presented by AI while simultaneously mitigating the risk. It would likely include efforts to develop the AI talent pool, encourage collaboration and innovation across industries, and create incentives to entice AI research and commercialization here.

As we work to prepare our state for the impact of AI on jobs and our economy, it is important to remember that AI is both a threat and an opportunity. By embracing and understanding AI and the foundational changes it is creating, we can better position our economic development strategies and resources to ensure South Carolina remains a leader in the global economy for years to come.

Peter Drucker once said, “The greatest danger in times of turbulence is not the turbulence itself, but to act with yesterday’s logic.” Let’s take action now to ensure our state is well prepared for the future and not rely on yesterday’s logic when planning for tomorrow.

— John Moore is a principal with Momenteum Strategies, an Upstate-based consulting firm specializing in helping communities and their economic development organizations build thriving, impactful innovation ecosystems.