AI is becoming 'a business imperative': Autodesk CEO

Generative AI has seen a rapid rise in popularity, with widespread adoption across businesses and industries. To discuss the growing importance of this technology, Autodesk CEO (ADSK) Andrew Anagnost joins Yahoo Finance.

Anagnost emphasizes that companies increasingly recognize that using AI is essential for maintaining competitiveness, with the mindset shifting to "if I'm not using AI, I'm not going to be competitive." However, he says companies "can't just jump into AI," as the companies that benefit the most are typically digital businesses.

As a result, Anagnost observes that many companies are working to update their digital infrastructure "to get ready for AI." He points out that while some aspects of AI may not sound as glamorous as self-driving cars, other mundane use cases for the tech are "really, really important."

Using the ongoing tragedy of the Francis Key Bridge accident in Baltimore as an example, he explains how AI-based tools could significantly boost the productivity of teams involved in the cleanup and rebuilding efforts, demonstrating the technology's "incredibly valuable" applications.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance.

This post was written by Angel Smith

Video Transcript

SEANA SMITH: Amazon CEO Andy Jassy releasing his letter to shareholders this morning. One of the big focuses of that letter was generative AI, to no real surprise. But Jassy wrote, quote, "that generative AI may be, quote, the largest technology transformation since the cloud." Now his comments really highlighting some of the excitement that we have seen surrounding AI and that optimism that has swept Wall Street while Autodesk out with a new report today survey showing that 76% of industry professionals are supportive of AI. Trust AI for their industry. We want to bring in Andrew Anagnost. He is Autodesk's CEO. Andrew, it's great to have you here on set with us. Thanks so much for making the time.

ANDREW ANAGNOST: Thanks for having me, Seana.

SEANA SMITH: So let's talk about what you found out from your survey here. We have talked about time and time again. Actually, the last time that we spoke, we were talking about AI clearly being a priority for your clients, for your customers. What are you seeing just in terms of their interest in AI and how much they are willing to spend on AI to better position the business there for the future?

ANDREW ANAGNOST: Yeah. So the interesting thing about that statistic you just shared is the other statistic associated with it is that 66% of them look to AI as being an imperative for their business over the next one to two years. So what they're seeing is they're saying, look, if I'm not using AI, I'm not going to be competitive. So they're seeing a connection between their future competitiveness and the use of some of these tools.

The simple thing that's happening here, though, is right, you can't just jump into AI. You actually have to be a digital company and have a digital pipeline to actually benefit from AI. So what that's doing is driving a lot of companies to update their digital infrastructure and get ready for AI. But they really see it as a business imperative moving forward.

MADISON MILLS: Can you talk more about that piece? Because we've been talking about how there's a lot of teasing out of AI, and we're investing in AI, but we don't quite know the use cases for these companies investing in it just yet.

ANDREW ANAGNOST: Yeah. You know, look, it's very important to avoid the hype, you know. Jon Stewart did a great job skewering the CEOs in Silicon Valley last week. But it's also really important to challenge the cynicism. There's a lot of work going on in AI. Tech's been doing it for at least a decade or more. We've been doing it for a decade or more. That doesn't sound as sexy as self-driving cars or, you know, autonomous aircraft, but it's really, really important.

Some of the work our customers do takes months to achieve important outcomes. We see an ability to take that down to weeks or days, and we have an enormous capacity problem in the industries we serve. You know, we serve an industry that designs and makes everything. This building, the cars you drive, the roads and bridges you drive across. It's a $30 trillion industry worldwide, employing 295 million people. They cannot produce as much as they need to produce right now. There's not enough money, material, or people to build or rebuild everything that needs to be built and rebuilt.

SEANA SMITH: Sorry to cut you up, but my thought goes exactly to what's happening down in Baltimore right now, just in terms of the reconstruction of that bridge. How do you see AI assisting in those efforts? And then what we could learn, or really, what this signals about how AI could potentially help with infrastructure investment and productivity then down the line?

ANDREW ANAGNOST: Yeah. So I'll give you a real important example of what's going on in Baltimore right now. They're having to engage in this very delicate process of removing the bridge. This is one of these things where AI would be incredibly valuable. Scanning the bridge in real time and then using a highly intelligent, trained AI to know how to sequence that out in the most rapid way possible is something that's totally within our capacity and capability today.

Now they're not doing that right now, but that's an example just on the clean-up here where AI-based tools could enable these teams to make much more rapid decisions. Now in the build process, what it's going to allow them to do is shorten the plan, the design plan, and build cycles, and do it in a more compressed period of time. These things matter. I mean, especially with something like that as critical as, you know, shipping infrastructure.

SEANA SMITH: And Andrew, real quick before we let you go. You were just in D.C. talking to D.C. officials there. I'm curious just the top priority that you think policymakers should be thinking about right now when it comes to regulation and what that means then for AI adoption.

ANDREW ANAGNOST: Well, you know, first off, they need to pass the American Privacy Rights Act. It's sitting on their table. Get over their little squabbling differences on the two extremes and pass that. We're long overdue for a national privacy policy in this country, so please do your job. Pass that act. So that's one thing.

And also, I think what they need to do is the risk-based approach that Biden's taking with AI, where they're trying to look for high-risk areas and then leave a lot of latitude and low-risk areas. I think that's really appropriate. There's a lot of AI that can benefit people right now today in our space, in particular with our capacity problem. Let it flow, but also manage those risks. Let's not-- let's not let what happened with social media happen again with AI.

SEANA SMITH: Andrew Anagnost, I wish we had more time. So much to get into with you here. We look forward to hopefully having you back on Yahoo Finance soon.

ANDREW ANAGNOST: Thank you for having me.

SEANA SMITH: CEO of Autodesk. Thanks so much, Andrew.