What is the Artificial Intelligence Revolution And Why Does It Matter To Your Organisation?

The artificial revolution refers to the rapid advancement and adoption of technologies that enable machines to perform tasks, that typically require human intervention.

AI technology is being used in a wide range of industries, including healthcare, finance, education, and transportation, among others. The potential benefits of AI technology include increased efficiency, improved decision-making, and enhanced personalisation of products and services.

Why Should Businesses Embrace AI?

The AI revolution is important to businesses as it has the potential to drive innovation, improve efficiency within operations and create new revenue streams. AI technology can help businesses automate and optimise processes and gain valuable customer insights from the data that it recovers. But it’s the way that businesses choose to act upon the data it recovers that can make the difference. Businesses of all shapes and sizes will have to get smarter with their operations to aid being left out in the cold. Even the UK Government have just announced that a dedicated budget will be set aside to help bolster AI. With the Chancellor, Jeremey Hunt unveiling a £1 Million prize, that will run every year for the next 10 years that ‘will be awarded to a person or team that does the most ground-breaking British AI research, called the Manchester Prize.’- New Technology,2023.

“This is the impact of the Intelligence Revolution. All industries are evolving rapidly. Innovation and change is the new norm. Those who can’t harness AI and data to improve their business – whatever the business – will struggle to compete.” – Forbes, 2020.

Challenges With AI

There are still some concerns with AI however, many people are concerned that adopting AI strategies could be unethical and can also be putting highly valued professionals out of roles.

‘The most immediate concern for many is that AI-enabled systems will replace workers across a wide range of industries. AI brings mixed emotions and opinions when referenced in the context of jobs. However, it’s becoming increasingly clear that AI is not a job killer, but rather, a job category killer.’ – Forbes, 2019. But AI isn’t necessarily removing people from their roles, rather it is helping aid them to be more efficient.

The benefits of adopting AI can help support medical professionals to diagnose patients faster and help them tailor their treatment. Public services, will become more efficient and effective, it can also help the economy grow if the UK are the leaders in developing this technology further.

Whether you like it or not, AI is here to stay and it will soon, if not already become a part of our daily lives.