AI - or Artificial Intelligence - is a word so popular yet so not well understood. In Monday’s first panel, three prominent executives of technology and financial companies sat down to discuss the ever-rising prominence of AI in their lives. Joanna Batstone, the VP at Watson’s Cloud Platform Expert and Delivery Services, believes AI is more accurately described as augmented intelligence, rather than artificial intelligence. Indeed, she says that human insight is required for AI to work most beneficially for humans. AI has the capability of pinpointing and compiling crucial data analytics, but she stresses that the human choice of how to use that data is what makes all the difference.

AI may be extremely useful, but in order to increase its popularity, Dave Rapaport, Experienced Head of Research and Collaboration Management for Siemens, noted how imperative it is to increase trust around AI. With the rise of many tech experts, such as Elon Musk, noting the risks of AI, Rapaport believes that the number one way to increase trust in AI is to show explicitly how AI brings significant value to the customer’s life.

Anders Grevstad, Executive VP of Transaction Banking and Customer Solutions at DNB, brought into the conversation the notion of transparency. In order to create high quality data, all three of the panelists strive to accomplish regulations on the types of methods of acquisition to be established globally.

It would be interesting to see, as Batstone referenced, the “unpacking of the black box of AI.” Why did a system make a certain recommendation and does the consumer agree? Will this transparency scare consumers or no? Only venturing down the AI path, as it seems the current technology trend is going, will tell.