Policies that hinder innovation will harm our state’s global competitiveness
As businesses – both big and small – across the Sunshine State accelerate the adoption and integration of artificial intelligence (AI) into their day-to-day operations, we’re realizing a myriad of opportunities for growth and efficiency. But AI is not just a tool for efficiency – it’s a catalyst for innovation that can redefine Florida’s economic landscape.
AI supports businesses across a wide range of industries. From medical imaging to law enforcement to utilities, AI can create efficiencies and increase productivity. In some cases, tasks that required years to complete are reduced to just seconds with the use of AI. The efficiency gains alone, stemming from streamlined processes and automation, can catalyze economic productivity across sectors.
In one example, Florida is a global destination for vacation, and Florida’s hospitality industry is turning to AI to customize visitors’ experiences. Chatbots powered by AI improve customer engagement with friendly responses to frequently asked questions. Chatbots not only improve responsiveness, but they also reduce the burden on team members, which is critically important given challenges to fulfill workforce demand.
Florida is also the nation’s launchpad to space, and both government and commercial space organizations depend on AI to support their exploration efforts. AI is used to scan landing sites, guide equipment to its destination and perform tasks on any mission.
Across many of our essential services – like electric power, for example – AI is critical to reliability. Utilities in Florida use AI to help prevent outages during a storm, restore power when it is out and direct resources to critical areas.
AI is just one example of the multitude of technologies being developed, fine-tuned, adapted and implemented in Florida. For small businesses and startups, technology is the ultimate equalizer. With a wide array of digital tools, small business owners can manage operations, reach a diverse customer base and scale up quickly to meet demand.
Technology is not just a value-add to industries, it’s an industry in and of itself that creates high-paying jobs and powers our state’s economy.
According to the Computing Technology Industry Association (CompTIA), Florida is second in the nation for job growth in the technology industry. In 2021, the technology industry in Florida created 10,522 new jobs, added 2,715 new businesses, and supported 446,266 jobs for Florida workers. Technology contributes $70 billion in total economic impact to the Sunshine State each year.
Florida boasts three of the top 25 markets for net tech jobs added, with Miami as the fourth largest, Orlando at 16 and Tampa Bay at 21.
Given the growth and preeminence of technology in our state, Florida has the opportunity to be a global hub for innovation. That’s why we must continue to invest in this important industry and the adaptation of technology in industries across the state. In doing so, we are propping up one of the world’s greatest economies.
As businesses energetically embrace technology and innovation, the threat of regulation looms large. Florida businesses are watching closely as the European Union begins to implement its sweeping measure to regulate AI. Passed earlier this month, the EU’s new law to regulate AI marks the world’s most comprehensive measure to limit the use of this rapidly evolving technology. The law is expected to have wide-ranging impacts on society and Europe’s economy.
There is strong consensus among elected officials and business leaders in the United States that thoughtful measures are necessary to prevent bad actors from using AI to impose harm to others or threaten our national security. But as we consider proposals for legislation or regulation, it is critically important that policies continue to foster innovation and promote the adaptation of emerging technologies. In doing so, we’re strengthening our state’s economy and positioning Florida as a global leader.
Any policies that hinder innovation will not only affect our economy, but they’ll harm our state’s global competitiveness.
On the other side of the world, China is already leading the world in AI-powered facial recognition technology. The nation is leveraging AI to create smart cities that depend on technology to manage traffic, logistics and law enforcement.
We must embrace technology and foster innovation to compete with China and others.
With the support of our elected officials, American entrepreneurs and innovators in the Sunshine State are ready to unleash the power of AI and accelerate the adaptation of technology. The value of technology to Florida’s businesses and economy is undeniably transformative. As we move forward, Florida has an opportunity to be a frontrunner in the technology revolution, beginning a new era of prosperity.
Brewster Bevis is the president and CEO of Associated Industries of Florida (AIF). Known as “The Voice of Florida Business,” AIF works to foster an economic climate in Florida conducive to the growth, development, and welfare of industry and business and the people of the state.
Eugen Boglaru is an AI aficionado covering the fascinating and rapidly advancing field of Artificial Intelligence. From machine learning breakthroughs to ethical considerations, Eugen provides readers with a deep dive into the world of AI, demystifying complex concepts and exploring the transformative impact of intelligent technologies.
