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The Future of Business is AI-Powered

Written by Angus Allan (Guest) on 03/08/2023

We are on the cusp of a monumental shift in the business landscape. Artificial intelligence (AI) has rapidly evolved from a niche technology into a formidable force that is disrupting industries and redefining what’s possible.

While the transformative potential of AI has been discussed for decades, we have now reached an inflection point where its integration into business operations is accelerating exponentially.

AI Represents a Paradigm Shift

At its core, AI represents a paradigm shift in how businesses solve problems and create value. It enables unprecedented levels of automation, augmenting human capabilities and liberating us from monotonous, repetitive tasks.

More importantly, it unlocks new frontiers of innovation that seemed unattainable just a few years ago.

The Pace of Disruption is Rapidly Increasing

Industry experts are in agreement that AI adoption is rapidly gathering pace. According to Gartner, the number of enterprises implementing AI grew by 270% in just four years between 2015 and 2019. Since the release of ChatGPT in 2022, the trend for AI adoption is accelerating further. [source]

We are already seeing AI transform a diverse range of functions including marketing, finance, supply chain management, and product development.

While these applications demonstrate AI’s versatility, we are still only scratching the surface of its potential. AI systems are projected to contribute over $15 trillion to the global economy by 2030. To put this figure into perspective, that is more than the current combined output of China and India. [source]

Mainstream Adoption Will Reach an Inflection Point Between As Soon As 2025

In the coming decade, AI is poised to transition from early adoption by innovators and early adopters, into widespread, mainstream implementation.

As AI capabilities continue to advance exponentially, a clear ROI for implementing AI will emerge across industries. This will convert many of those who have taken a “wait and see” approach thus far.

We can expect a hockey stick-like adoption curve to play out, with AI shifting from a nice-to-have to a must-have technology for enterprises looking to remain competitive.

While predicting exactly when mass adoption will occur is difficult, the consensus points to an inflection point between 2025 and 2030.

The Future Belongs to Those Who Embrace AI

We are shifting from an era where AI provides competitive advantage, into one where AI capabilities are rapidly becoming table stakes. Companies that integrate AI early will build significant momentum and establish themselves as leaders in their industries. Lagging organizations risk being left behind entirely.

Tech giants like Google, Microsoft, Amazon and Apple are certainly poised to remain dominant, with their vast data sets and AI expertise.

However, the barriers to entry are lowering dramatically. We are seeing more ready-to-use AI solutions that can quickly be implemented by organizations of any size.

The companies that proactively embrace these solutions over the coming years will define what becomes the “new normal” in their industries.

Creating an AI Adoption Plan

The rise of AI is accelerating. Is your business ready? To get started quickly, you can begin to use off-the-shelf AI tools instead of training your own model. Work with your business leaders and stakeholders to implement an AI Adoption Plan covering these key points:

  • Audit - Identify processes to automate and workflows to enhance with AI. Look for mundane and repetitive tasks.
  • Start small - Run limited pilot projects to demonstrate ROI and build internal capabilities. 
  • Map integration - Create a phased rollout plan focused on quick wins first, then complex integrations. Utilise a change management framework like ADKAR to help you map out activities that will lead to buy-in.
  • Experiment - Explore intuitive new AI tools hands-on. Proddr makes ideation easy. Consider using the APIs offered by OpenAI, Anthropic, Amazon, and others.
  • Train - Educate your team on AI so they are prepared and empowered.
  • Assess - Continuously evaluate results and learnings and iterate on your approach.

With a strategic readiness plan, your business can harness AI to work smarter, faster and better.

The Bottom Line

AI is emerging from the realm of sci-fi into our day-to-day reality. Its integration into business is rapidly accelerating and widespread adoption is imminent. Organizations that hesitate risk being left behind almost entirely.

The message for business leaders is clear – embrace AI today to ensure you are shaping your industry tomorrow.

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