The Robots Are Coming: How AI is Changing the Business Landscape
AI IS THE NEW ELECTRICITY
Many experts predict that machine intelligence will surpass human intelligence by the time we’re halfway through this century. But before we’re relegated to second place, let’s leverage developments in AI and machine learning to improve business capabilities and processes.
Open APIs are already providing access to an immense, cumulative knowledge base and vast troves of data intelligence have been democratised. A 2-person startup can now tap into the same insights as a multinational with 100,000 employees. This triggers rapid innovation and supercharges competition.
In total, the exponential impact of utilitarian AI will be as far-reaching and significant as electrification was during the Second Industrial Revolution.
PEOPLE ARE NEEDY, ROBOTS ARE SPEEDY
Human employees take sick days, get bored at work and need to go home to see their families and sleep. AI systems are dream workers; they have no physiological needs, work 24/7 and constantly self-improve.
It’s not just low-level employees with simple jobs that are being replaced by more efficient computers; doctors and lawyers are at risk of redundancy too. IBM’s AI system Watson has already proven itself to be much more reliable in diagnosing lung cancer than human oncologists when scanning MRIs (90% vs 50%), and other systems can review and learn millions of legal documents much faster than buildings full of junior associates.
YOUR NEXT EMPLOYEE SHOULDN’T BE HUMAN
A few short centuries ago, our society was agrarian and roles like ‘auto mechanic’ and ‘software developer’ could have never been imagined — a similar shift is happening now. Jobs lost to AI will create new jobs for new opportunities.
If you remove the emotional bias from the issue, you will drastically reduce HR costs and vastly improve the capabilities and efficiency of your firm. It’s a no brainer; start building your bots.
Stay away from it too long — and prepare to be disrupted by someone that recognises the power of an always available, super-efficient workforce.