Businesses worldwide are adopting artificial intelligence (AI) at an ever-increasing rate, which will transform the way they operate, distribute their products, and position themselves in the market. Despite the AI’s significant potential in this domain, strides made by AI so far have sparked anxiety due to it showing similar capacities as those held by humans, including creativity, problem-solving, and cogent expression. However, as the data shows, AI does not have to be viewed as a danger but rather an instrument that complements human intelligence.
Improvements in the field have been so rapid that a petition to impose a moratorium on the training of AI systems has received more than 27,000 signatures, including from many leading AI researchers, intellectuals, and entrepreneurs. While some caution is certainly warranted when it comes to technology as powerful as AI, its potential benefits are so vast that we will soon see an increasing number of industries and sectors rapidly adopting the technology.
Between 2017 and 2022, McKinsey reports that AI adoption more than doubled. Gartner found that 45% of executives say the publicity of ChatGPT led to an increase in AI investment, while 70% of companies are exploring generative AI. With more resources flowing into AI research and use cases growing all the time, this trend shows no sign of slowing down.
AI is set to revolutionize countless areas in the next decade, from finance and customer service to product development and HR. Companies that have distinguished themselves as AI leaders are extracting significant value from the technology in many areas: increasing productivity through automation, improving decision-making and the customer experience, developing more innovative products and services, and enhancing employee experience and skills acquisition.
AI will act as a turbocharger for many aspects of business, but companies must not deploy AI without the right supporting tech stack – from efficient workflow solutions to feature-rich and accessible customer-facing platforms (that is, your contact center UI).
Regardless of what happens in the future, one thing is certain: the acceleration of AI innovation and adoption will catalyze soaring investments in the technology, and billions of dollars in valuations will shift as some companies use AI to drive competitive differentiation and others fail to keep pace. Companies that embrace AI today will figure out new and productive ways to integrate it with their existing workforces, products, and operations – a head start today that will pay dividends tomorrow.
