Embracing the AI Revolution

@getty

Consider the advent of online shopping. A few decades ago, purchasing a product online and delivering it to your doorstep seemed far-fetched. Yet this seemingly futuristic concept became an everyday reality with the internet explosion.

Online shopping is now a trillion-dollar industry that has reshaped retail beyond recognition. We had stores, products, and buyers. The missing link? The internet. When it arrived, it became a catalyst for unimaginable conveniences and new experiences that we take for granted today.

Artificial intelligence (AI) stands on the brink of becoming the next revolutionary catalyst. I believe it’s the defining technology of our era, fundamentally transforming how we live and work. AI could fundamentally alter our lifestyles and how we conduct business. Having been a part of the tech industry for years, I have never been as exhilarated and hopeful. It's a thrilling moment that applies to every industry. The way I see it, to use AI effectively, we must first use it to improve existing processes and then create new ones.

Take healthcare as an example. Zebra Medical Vision is an excellent example of a healthcare company leveraging AI to revolutionize the industry. As Marcin Frąckiewicz explains, Zebra Medical Vision uses machine learning and AI to read medical imaging scans, such as X-rays, CT scans, and MRI scans. Their algorithms are designed to detect various diseases with remarkable accuracy and speed. By automating initial scan readings, their technology frees up time for healthcare professionals to focus on more complex cases and spend more time with patients. Also, AI enables them to detect early signs of disease; it empowers physicians to take preventive action, potentially before the patient even experiences symptoms. This can improve health outcomes and quality of life, as many conditions are more effectively treated when detected early.

At this moment, every organization, regardless of size or sector, should contemplate implementing AI. Now is the time for leaders to seize this opportunity and integrate AI into their businesses to remain competitive and future-ready.

But where does one begin? I regularly engage in talks with industry leaders, seeking insights into the vast potential of AI. Regardless of where you stand on your AI journey, the obligation lies with every leader to seize this unprecedented era and harness the potency of this breakthrough technology. If you’re unsure how to kickstart this journey, remember you're in good company. Embrace the fluidity of change, sustain a lifelong learner's attitude, and continuously fine-tune your strategy as you navigate the fascinating world of AI.

Taking the First Steps in the AI Journey

Starting by using AI applications like ChatGPT, Bard, Bing, and many others can spark curiosity and pave the way for understanding AI's potential within your organization. Use it for drafting memos, researching and condensing information on a subject of interest, or igniting your next big idea. I've used ChatGPT to help conceptualize ideas for articles.

Experimentation with AI could place you in an advantageous position, enabling you to envision its applicability in your organization. And who better than you to identify potential growth areas and opportunities? I can’t stress this enough: Just try it instead of wasting time reading about it.

When it comes to coding, consider GitHub’s Copilot, which is already authoring 46% of the code in its repository, enabling developers to code up to 55% faster. This helps conserve users' cognitive resources and allows them to channel their attention toward more rewarding tasks. Simply put, they're empowered to innovate and resolve complex challenges.

Tasks such as payroll management, employee onboarding, or IT help desk support are all repeatable, rule-governed processes that AI can help optimize. This is the motivation behind a whole new genre of AI designed to undertake manual tasks and redefine numerous business processes. AI's impact on productivity can also be measured in the currency of time. Whether you're involved in fraud detection or functioning as a security analyst, time can be your greatest ally or your most challenging obstacle. By minimizing the time it takes to sift through vast, information-dense, time-critical data, you're already amplifying your efficiency and effectiveness in your role.

Transforming Experiences with AI

A survey conducted by Microsoft found that 89% of employees with access to automated and AI-driven tools reported a higher sense of fulfillment. They attributed this to the ability to focus their time and efforts on tasks of genuine importance. Interestingly, 89% of the respondents desired to harness AI solutions for an even broader spectrum of tasks and activities.

A few organizations I work with are actively deploying advanced AI in customer service, writing support, and data classification. All these applications leverage AI to utilize existing resources to transform user experiences.

Reimaging New Value with AI

While using AI to improve existing processes is valuable, leveraging AI to reimagine and ultimately create entirely new offerings is the real challenge. Integrating AI into business operations is the first step toward unleashing these innovative opportunities. It's essential to prioritize responsible AI initiatives while harnessing the power of AI. This involves committed leadership, inclusive governance models, and investing in responsible AI in engineering systems, research-led incubations, and personnel.

Flip Side: AI Risks

AI's power comes with risks that demand attention. Ethical concerns arise from bias and fairness issues. Job displacement and overreliance on AI are potential challenges. Security vulnerabilities and lack of transparency pose threats. Unintended consequences and the need for regulation also require careful consideration. Balancing AI's potential with responsible governance is key to a successful and secure future.

The Time to Embrace AI is Now

The potential of AI is immense, and the time to embrace this technology is now. Much like how online shopping platforms depended on high-speed internet and secured digital transaction systems, yet-to-be-discovered industries will need AI as a cornerstone for their growth. AI is set to revolutionize the status quo of many industries, potentially impacting the very fabric of human society. This truly embodies the profound potential that AI holds. As business leaders, it's the perfect time to utilize AI and prepare for the transformative advancements looming on the horizon.

This article was originally published in Forbes.