The thought of Artificial Intelligence (A.I.) has been around since the start of modern technology. That invisible villain in a Sci-Fi film, the horrifying Sophia robot (I do not encourage a google search), all the way to those awful customer service chat bots. AI was often thought to still be a while away when it came to usage in everyday life. This is no longer the case. A.I. is now accessible to anyone who can get onto the internet and in most cases, its free to use.
IBM’s latest AI Adoption Index states that 35% of companies reported using AI in their business with an additional 42% are exploring AI. In Australia, the same study shows 24% of companies have deployed AI in their business and 44% are exploring AI. Meaning more than two thirds (68%) of businesses in Australia are currently or planning on executing AI in their business. Some of the key barriers to implementing AI are the lack of skills, knowledge or expertise, high price point, lack of tools and platforms, projects are too complex, and the data complexity is too high. Here is what you need to know about AI in the workplace:
Automation & Productivity Gains
One of the major benefits AI is having in businesses today is the role it plays in automation. Say goodbye to that painstaking, repetitive, and time-consuming task that make your days go by at a snail’s pace as AI is here to help. No one likes writing or preparing minutes from meetings that could have been an email, so why not invite AI to the meeting to do just that for you! AI’s ability to take over the automated tasks in a business frees up employee’s valuable time to focus on creative and complex tasks. Additionally, AI can be used to optimise business processes by identifying inefficiencies which can then be addressed to improve overall efficiency.
Enhanced Decision Making
There has been great uptake in using AI to assist with decision making. AI’s ability to process significant amounts of data at incredible speeds enables it to preform quick analysis while generating insights in real time. AI can use advanced algorithms, data science, and algorithms to provide accurate, and objective insights reducing the likelihood of human error. It is important to note that 4 in 5 key decision makers in businesses that have implemented AI were able to explain how the AI came to its conclusion.
Impact on Job Roles
This is no time to shy away from technology, it’s time to embrace it! Instead of letting AI take over your role, learn how you can adapt your role to fit AI. It’s common for fear mongering to lead you to believe AI is coming to take over, and we’re all going to lose our jobs. AI could have even written this blog without me! The biggest thing to remember when thinking about how AI can impact your job is not how will it make me redundant but how can I leverage this to make my job both easier for me, and more effective for my business. AI also has fantastic application to the enhancement of skills and training for employees. By accurately identifying skills gaps, and how to close them, proactively supporting learners, plus the interpretation for advanced analysis AI can reimagine the learning and development of employees.
AI has been so and will continue to be disruptive in practically every digital environment, making it essential to be utilised in a way to minimise harm. The initial conundrums that pop into mind is the bias, potential to displace jobs, privacy, and lack of transparency. As much as we wish for non-bias in our decision makers, AI uses machine learning to learn from information already out there, therefore is susceptible to discriminatory outcomes, inaccuracies, and embedded bias. The privacy concerns come from the initial uptake of AI being in tech companies which hold significant amounts of your personal data that we often agree to sharing without properly reading the terms and conditions when signing up. Furthermore, lack if transparency in AI algorithms have led to 1 in 5 decision makers not being able to explain how the AI tool came to its conclusion, often because the algorithms are not legible by humans. Understandably, ethics plays a massive role in the hesitation to integrate AI into businesses. There is no stopping this trend, and if you’re aware of the potential impacts, you can ensure you are putting in good practices with your AI integration.
The Future of AI
AI is advancing rapidly and much like everything else, will see a change in trends over the first few years of widespread adoption. It is likely that the next generation of AI tools will go for beyond chatbots and photo generators that we are seeing in 2023 with ChatGPT, Canva, and Photoshop. New and exciting applications are likely to appear focusing on generative design, and voice synthesizers. As AI becomes more prevalent, it is evident that regulatory bodies, legislation and ethical implications will begin to emerge. AI will also make a strong appearance in customer service, transforming routine operations and making the need for human performed repetitive procedures redundant. AI in customer service is also an ideal tester for integrating AI into processes and automating those mundane tasks to free up human time. It is widely acknowledged that AI won’t take jobs from people, but people who use AI will take jobs from those who don’t. Upskilling will undoubtably be the major focus within businesses over the next 12 months to ensure them and their people are still providing value.
AI is not likely to be a fleeting trend, but an integral part of our daily lives both inside and outside the working environment. For businesses to offer and provide products and services akin to their competition, integrating AI is going to be essential. For more information on AI and integration, head to ayres.ai to learn more on how you can integrate it into your business.