{"id":25064,"date":"2023-05-12T09:00:00","date_gmt":"2023-05-12T08:00:00","guid":{"rendered":"https:\/\/www.engineernewsnetwork.com\/blog\/?p=25064"},"modified":"2023-05-10T10:28:04","modified_gmt":"2023-05-10T09:28:04","slug":"how-business-leaders-can-stay-ahead-of-the-artificial-intelligence-curve","status":"publish","type":"post","link":"https:\/\/www.engineernewsnetwork.com\/blog\/how-business-leaders-can-stay-ahead-of-the-artificial-intelligence-curve\/","title":{"rendered":"How business leaders can stay ahead of the Artificial Intelligence curve"},"content":{"rendered":"\n

Love it or loathe it \u2013 experts across business and technology agree that Artificial Intelligence (AI) is here to stay and is continuing to change the way we work.<\/p>\n\n\n\n

Talk around AI tools like ChatGPT has rocketed, with a 2633% increase<\/a><\/strong> in interest for the OpenAI software in the three months leading into 2023.<\/p>\n\n\n\n

The IBM Global AI Adoption Index 2022<\/a><\/strong> published in May 2022 stated: \u201cAround 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.\u201d<\/p>\n\n\n\n

And the pace of change has only increased since then.<\/p>\n\n\n\n

It\u2019s clear that there is no stopping the future of AI. Therefore, business leaders need to embrace AI \u2013 or risk getting left behind.<\/p>\n\n\n\n

Catherine Stagg-Macey, a leading business coach, technology expert and host of podcast, Unsaid @ Work<\/em><\/a><\/strong>, 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.<\/p>\n\n\n\n

Have you already integrated AI?<\/strong><\/p>\n\n\n\n

\u201cYour company may already have some AI initiatives underway,\u201d she said.<\/p>\n\n\n\n

\u201cPredictive 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.<\/p>\n\n\n\n

\u201cLast year 35% of companies<\/a><\/strong> reported using AI in their business and an additional 42% said they were exploring it.<\/p>\n\n\n\n

\u201cThere is a lot of confusion because the broad term is referring to two types of AI: Artificial Narrow intelligence (ANI) \u2013 focused on one task like a one-trick pony; and Artificial General intelligence which learns and reasons like a human, mimicking human cognitive ability. <\/p>\n\n\n\n

\u201cAll the progress we\u2019ve seen to date \u2013 like the AI initiatives I\u2019ve mentioned \u2013 is in the ANI category. So, when we talk about progress in AI, it\u2019s really only been in one area, and the hype about robots taking over the world is misguided.\u201d<\/p>\n\n\n\n

Keeping on top of AI as it develops<\/strong><\/p>\n\n\n\n

In her recent podcast, Chat GPT and the AI revolution<\/a><\/em><\/strong>, 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.<\/p>\n\n\n\n

Stagg-Macey adds: \u201cAI 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.<\/p>\n\n\n\n

\u201cChat 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 two months<\/a><\/strong>).<\/p>\n\n\n\n

\u201cChat GPT is part of the \u2018generative tech\u2019 grouping of AI (AGI). It\u2019s trained on a very large data set on the Internet (from Wikipedia<\/em> to New York Times<\/em>). An easy way to explain it is to think of reading and remembering everything that\u2019s ever been published in the world and that\u2019s the library of information Chat GPT works with.\u201d<\/p>\n\n\n\n

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 communicate effectively an answer.<\/p>\n\n\n\n

Be curious<\/strong><\/p>\n\n\n\n

Catherine is encouraging business leaders to get curious about AGI and said: \u201cWhen we don\u2019t know what we don\u2019t know, it\u2019s time to experiment. With the perspective of a small child \u2013 being curious, open and willing to fail.<\/p>\n\n\n\n

\u201cThis 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?<\/p>\n\n\n\n

\u201cA business leader\u2019s greatest gift is their attention and yet we don\u2019t protect it or find time to think about the big things.<\/p>\n\n\n\n

 \u201cMy suggestion is to find the time to play with Chat GPT and adopt it now so you get to know what\u2019s possible, naturally developing your skills to make the most of it as a tool.<\/p>\n\n\n\n

\u201cYou 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 Jo\u00e3o Ferr\u00e3o dos Santos who recently built clothing company Alsthetic Apparel with ChatGPT as the CEO<\/a><\/strong> to test the capabilities of AI in the workplace. The company went viral. <\/p>\n\n\n\n

\u201cWork 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.<\/p>\n\n\n\n

\u201cDo this with your team. Do it with no other purpose other than to learn, knowing that you don\u2019t know what you don\u2019t know.\u201d<\/p>\n\n\n\n

Consider the impact on your customer<\/strong><\/p>\n\n\n\n

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.<\/p>\n\n\n\n

\u201cIt\u2019s an exciting time for business leaders,\u201d she said.<\/p>\n\n\n\n

\u201cAI technology within the business sector is new enough that business leaders can still use it to their advantage without falling behind as.<\/p>\n\n\n\n

\u201cI don\u2019t believe AI and robots will replace humans in most workplaces, but it\u2019s important to become acquainted with AI tools and work with them to improve your business\u2019s efficiency.<\/p>\n\n\n\n

\u201cAI 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.<\/p>\n\n\n\n

\u201cBusinesses 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.<\/p>\n\n\n\n

\u201cBut remember \u2013 harnessing the benefits of AI is important, but don\u2019t forget quality control \u2013 something for which humans are still very much needed.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Love it or loathe it \u2013 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 …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[199],"tags":[353,1894,11563,11564],"class_list":["post-25064","post","type-post","status-publish","format-standard","","category-news-views-and-opinion","tag-ai","tag-artificial-intelligence","tag-chatgpt","tag-unsaid-work"],"yoast_head":"\nHow business leaders can stay ahead of the Artificial Intelligence curve - Engineer News Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.engineernewsnetwork.com\/blog\/how-business-leaders-can-stay-ahead-of-the-artificial-intelligence-curve\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How business leaders can stay ahead of the Artificial Intelligence curve - Engineer News Network\" \/>\n<meta property=\"og:description\" content=\"Love it or loathe it \u2013 experts across business and technology agree that Artificial Intelligence (AI) is here to stay and is continuing to change the way we work. 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