Look at the spectacular rise of the ChatGPT; it’s been a watershed moment for Artificial Intelligence technology, enabling millions of common people to leverage AI technology and experience its outstanding powers first-hand.
Now, you may say that the ChatGPT has many drawbacks and loopholes, but look how far we have come!
It’s no surprise that both Microsoft and Alphabet have declared the shift to Artificial Intelligence as one of their leading challenges, forcing them to opt for a restructuring. According to Satya Nadella, the Microsoft CEO, there is likely to be a new platform shift when AI-enabled services emerge as the next big thing after the earlier landmark shift to mobile technology.
How is AI expected to change the world around us?
In recent times, tech growth has completely transformed the way human beings interact with one another, even beyond the workplace. Tech adoption at lightning speed is welcome, but one needs to be aware of the new risks and challenges that this will throw at us. As 2023 begins in the midst of economic turbulence worldwide, it’s important to balance the scales.
AI is being looked upon as a major tech breakthrough that has a huge potential to disrupt our lives. While it’s hard to predict its full implementation now, it shows the promise of providing real-time actionable insights. Even if you are an AI advocate, you need to respect the opinions of contrarians.
The ChatGPT was rolled out at the end of last year and responses to it have been phenomenal. It gained more than a million subscribers within the first 5 days. Because of its open-source code, it can be accessed seamlessly, and generative AI is likely to trigger the growth of many new startups soon. While automation has mainly focussed on job displacement, the truth is that companies will continue to need large staff, except that they will work in non-customer-facing jobs.
The belief is that when AI gets integrated into core business functions, it will make companies recession-proof and resilient. This technology will anonymize and shorten the process of recruitment, mitigating downtime in specific roles. Companies can use AI to identify tension and relieve workforce issues before these escalate into conflicts.
- To make sure we can leverage AI properly, we need to understand that its usage must be driven only by business metrics. Businesses must start small, maybe with a single team, project, or function.
- If companies are keen to use AI functionalities, they must hire subject matter experts. Employees have to be adequately taught and trained to understand this technology, whether it’s engineers, project managers, salespeople, or contract lawyers.
Businesses must work alongside reputed service providers. AI is designed to help you understand the data that you have, where it came from, how it was vetted, and whether it has been checked for irregularities.
The assumption is that AI will create huge changes in 2023. If used correctly, it can save time and resources, streamline processes, and offer masterful insights. AI isn’t only about removing mistakes and inefficiencies; it is more about personalizing our preferences. It is for solving complex problems as and when they arise.
One can hope that AI is going to make humans more “human” and enable them to interact with one another in natural ways. AI has the capability to help companies and individuals navigate through risks and uncertainties when applied smartly. It just needs some help getting there.
According to research by Cap Gemini, India has been leading the pack in AI adoption, going past many other countries. Retail and telecom industries have made the maximum usage of AI but the banking and finance sectors aren’t far behind.