How to advance AI in Florida

Artificial intelligence (AI) is being used by various organizations in the Sunshine State.

In Gainesville, AI is helping predict the next variant of Covid-19. Ft. Myers, it provided evidence prove the man’s innocence in a criminal case. University of Florida uses AI to accelerate brain research. And in rural areas AI traces the spread of citrus greening through Florida’s iconic orange groves.

When it comes to AI, some people assume that the technologies involved are mainly used by large corporations. But recently Deloitte Insights The report examines the role of small businesses in driving AI innovation and how policymakers can help them achieve this.

At a high level, AI uses computer systems to perform tasks that normally require human intelligence: visual perception, speech recognition, and even some decision-making. Due to its dramatic advances in the last decade, AI is expected to be the most influential technology of this generation. Its applications span many industries, creating opportunities to increase productivity and reduce overhead costs.

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“The primary source of technological innovation has traditionally been entrepreneurs and small businesses,” said Tasha Austin and Kevin LubinDeloitte government and public service professionals and book authors How the US government can accelerate the business of AI. “Small companies routinely produce more patents per employee than large companies, which are associated with greater impact, growth and profits. Therefore, fostering AI innovation in the United States will likely require greater support and opportunities for AI entrepreneurs and small businesses.”

But there are still barriers to innovation and entrepreneurship. Initially, the prohibitive cost of computing and the need for large volumes of high-quality data can be a significant barrier for small businesses.

In addition, the development of artificial intelligence requires special technical talent, which is currently in significant short supply in the United States. For Florida to maintain its position as an economic leader, the Sunshine State must embrace and integrate AI technology to support Florida’s workforce.

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Deloitte’s report identifies actions that policymakers can take to break down barriers for local startups to overcome these challenges and support AI innovation by small businesses and entrepreneurs, including:

— directly funds AI innovation

— Adopting legislation to streamline policies and regulations related to AI technology

— creating new incentives for AI entrepreneurship

— provision of the technological infrastructure necessary for the advanced development of AI

To help small businesses compete with larger companies, Florida lawmakers may want to consider using tax incentives to encourage more regular investment and upgrading of physical research and development (R&D) assets. According to a Deloitte study, three of the largest technology firms in the United States account for about 62% of the global cloud computing infrastructure market. Offering tax breaks to smaller companies that invest and improve their R&D assets could help them become more competitive in the cloud space.

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Another option to grow Florida’s AI innovation is to create a technology hub.

Currently, a few tech hubs in Boston, San Francisco, San Jose, Seattle, and San Diego account for more than 90% of the growth in the high-tech industry.

Establishing a technology hub in Florida, or helping to strengthen growing technology and innovation hubs like Orlando, can allow Florida to compete more effectively nationally.

A country may also consider establishing a formal consortium of organizations across sectors to stimulate industrial investment, promote academic-industry collaboration, and mobilize the public to create more horizontal and vertical partnerships.

AI is here to stay, so Florida policymakers should consider how best to break down barriers to innovation and foster an environment where emerging AI leaders and small businesses can compete, grow and thrive.

To learn more about how government can help accelerate AI entrepreneurship, please click here.

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