The term Artificial Intelligence is more than six decades old and has come a long way from the fundamental doubts of whether machines can solve problems using human-like intelligence to whether they can emote and behave in similar ways to humans. It is now gaining momentum like never before largely because of advancements that have taken place in various facets of technology such as computing power, availability of large data sets to learn and apply and advancements in the Natural language processing and interfaces. All this has provided confidence and the impetus for technologists and entrepreneurs to develop, fail fast and reinvent to solve many of the human challenges. AI adoption in enterprises will require a new level of preparedness.
The market dynamics will change drastically as the AI systems mature in the next couple of years. Organizations which served as the back office for enterprises will be hit due to automation and AI making them redundant and eroding the jobs. Larger enterprises will face stiff competition from smaller players as they get to access similar levels of technologies at relatively lower costs and may allow them to scale for operations at ease and product/service design will change. Enterprises will have to work on understanding and defining rules for new interpersonal interactions, educate and retrain their resources. They will have to alter the business models. As a business leader of your enterprise these are the key questions you need to be asking:
- What areas in my business today are routine with little to no change in workflow? Where do we have processes with minimal human judgment?
- What percentage of our products/services involve or require human interaction to deliver to customer? What is the value perceived by customers because of this human interaction?
- Does my customer influence and engage in the product/service design? Currently how do I allow my customer to participate in this process?
- How prepared is my team to work in collaboration with the Intelligent Machines? (Imagine the Kasparov & Deep blue playing as a team)
Most importantly one must recognize that even with an “AI First” world it will never become an “AI Only” world as the benefits of Man and Machine collaboration is far higher.