No one will deny that technology has radically changed “work” over the past century. The last 40 years have continually evolved from manual to automated processes and from physical to digital interactions. Letters and interoffice mail have become emails, phone calls have become digital chats, and In-person meetings have evolved into virtual meetings. One can argue the loss/gain balance of the change, but no one denies that real-time updates have changed the pace and advancement of business. No one would argue that work is different.
The internet, cell phones, email, Web2.0, chats, and mobile computing all moved the needle and forced commerce to change. Each of these technologies evolved year over year through multiple generations of evolution, advancement, adoption, and security updates before emergent technology became standard.
My hypothesis: Generative AI will change work faster than any other technological advancements.
Technology changes work when used to make money or save money or both! Basic economics: when you advance the speed and/or decrease the cost to bring a product to market, you gain an advantage and drive the top-line revenue.
Previous tech advancements accelerated data and insight communication, driving faster decision-making and increased value. Generative AI is dramatically amplifying this process by leveraging existing infrastructure. Unlike past breakthroughs, which required new technology to unlock value, Generative AI capitalizes on our current tech landscape to deliver immediate benefits.
Here are a few ways we are seeing the impact on the value chain.
Normal business processes. Generative AI rapidly extracts valuable insights from unstructured text. Examples include using a summary of a long email thread to catch up on a conversation, a summary and list of action items from a meeting transcript, a quick recap the last X minutes of a meeting, and writing first draft responses to an email. These and other use cases are an accelerator for people and organizations to gain efficiency and be more productive. Save money.
Data into decisions. Orchestrated GenAI transforms disparate unstructured data into actionable insights, driving decision-making and achieving desired outcomes. Emergent issues and trends from the news or call centers are turned into alerts and KPIs in near real-time. The ease of data processing, visualization, and consumption is driving insight generation, prescriptive analytics, and predictive forecasting.
This is not a step forward; this is a different level, a paradigm shift, a new dimension for producing data-driven insights and decisions.
Save money or make money: Yes.
