Love it or loathe it – experts across business and technology agree that Artificial Intelligence (AI) is here to stay and is continuing to change the way we work.
Talk around AI tools like ChatGPT has rocketed, with a 2633% increase in interest for the OpenAI software in the three months leading into 2023.
The IBM Global AI Adoption Index 2022 published in May 2022 stated that “Around the world, the adoption of artificial intelligence (AI) and its impact on businesses and society stands at a turning point. The global AI adoption rate grew steadily and now is 35%, a four-point increase from the year before.”
And the pace of change has only increased since then.
It’s clear that there is no stopping the future of AI. Therefore, business leaders need to embrace AI – or risk getting left behind.
Catherine Stagg-Macey, a leading business coach, technology expert and host of podcast, Unsaid @ Work, is excited by the potential of AI for business and shares her predictions and tips for business leaders on best practice when it comes to adopting emerging technology trends such as ChatGPT.
Have you already integrated AI?
“Your company may already have some AI initiatives underway,” she said.
“Predictive pricing models on the website, chatbots in the customer services area, recommendation models on the website and even email filters are all driven by AI.
“Last year 35% of companies reported using AI in their business and an additional 42% said they were exploring it.
“There is a lot of confusion because the broad term is referring to two types of AI: Artificial Narrow intelligence (ANI) – focused on one task like a one trick pony; and Artificial General intelligence which learns and reasons like a human, mimicking human cognitive ability.
“All the progress we’ve seen to date – like the AI initiatives I’ve mentioned – is in the ANI category. So, when we talk about progress in AI, it’s really only been in one area, and the hype about robots taking over the world is misguided.”
Keeping on top of AI as it develops
In her recent podcast, ‘Chat GPT and the AI revolution’, Catherine speaks to Wei Wang – Commercial Excellence Director at Align Technologies in Switzerland about the benefits of AI and how staying informed about its advancements will ensure you harness its benefits.
Stagg-Macey adds: “AI chatbots like ChatGPT, Google Bard and Jasper are helping to automate several business operations such as content creation, code creation and customer research – all of which save a company time and money.
“Chat GPT is the one everyone talks about as it was released for free at the end of last year and is very easy to use making it the fastest adopted tech of all time (100 million users in 2 months).
“Chat GPT is part of the ‘generative tech’ grouping of AI (AGI). It’s trained on a very large data set on the Internet (from Wikipedia to New York Times). An easy way to explain it is to think of reading and remembering everything that’s ever been published in the world and that’s the library of information Chat GPT works with.”
AI chat bots have been set up so that users can talk to them, learning user patterns to refine its searches, rather than the user having to manually refine searches as they would for search engines like Google. This saves the user time by using language to effectively communicate an answer.
Be curious
Catherine is encouraging business leaders to get curious about AGI and said: “When we don’t know what we don’t know, it’s time to experiment. With the perspective of a small child – being curious, open and willing to fail.
“This sounds a lot easier than it is. If you are like me, in meetings most days back-to-back, catching up with emails after hours, when do you find time to play?
“A business leader’s greatest gift is their attention and yet we don’t protect it or find time to think about the big things.
“My suggestion is to find the time to play with Chat GPT and adopt it now so you get to know what’s possible, naturally developing your skills to make the most of it as a tool.
“You could use Chat GPT to brainstorm for a new project or make a recipe with ingredients in your fridge or you could go one step further like João Ferrão dos Santos who recently built clothing company Alsthetic Apparel with ChatGPT as the CEO to test the capabilities of AI in the workplace. The company went viral.
“Work with AI, not against it and learn how it can automate parts of your job to improve efficiency and really focus on the things that matter.
“Do this with your team. Do it with no other purpose other than to learn, knowing that you don’t know what you don’t know.”
Consider the impact on your customer
Catherine also recommends that business leaders think about the impact AI will have on consumer behaviour over the coming years and be prepared to change how they market their product or service.
“It’s an exciting time for business leaders,” she said.
“AI technology within the business sector is new enough that business leaders can still use it to their advantage without falling behind as.
“I don’t believe AI and robots will replace humans in most workplaces, but it’s important to become acquainted with AI tools and work with them to improve your business’s efficiency.
“AI can take the labour intensity out of tasks such as customer onboarding and engagement levels as well as conducting research that can be used to improve your business strategy.
“Businesses can easily become part of this future that is being written one sentence at a time in front of our very eyes so they stay ahead of the curve.
“But remember – harnessing the benefits of AI is important, but don’t forget quality control – something for which humans are still very much needed.”
To find out more and to listen to Catherine’s podcast, visit https://www.podpage.com/unsaid-at-work/
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