AI is revolutionizing the market; Don't wait until it's too late. This technology can help everyone, from individual workers to the entire organization.
Hello fellow technology enthusiasts! Today, I want to address a topic that is trending in the technology industry. You know what it is, of course; you read the title, after all. Yes, it's artificial intelligence (AI) again. Now, don't roll your eyes just yet. I promise we will try to go beyond the basics everyone has already covered.
See, the development of AI has become more than just a science fiction fantasy or hypothetical models run by supercomputers at universities and private companies. It's infiltrating our everyday lives faster than we can say “Siri” or “Alexa.” From virtual assistants that help us with mundane tasks to algorithms that predict our preferences on streaming platforms, AI is already a part of our lives without most people realizing it, and LLMs are just making that fact obvious.
But why should you care? Well, ignoring how much AI is changing the world can have serious consequences for your productivity. Let me explain why.
We live in a business climate that demands speed and quality. It used to be a trade-off: either something was good or it was done quickly. This is no longer the norm as users and investors are increasingly demanding regarding end products. We are in a never-ending rat race, developing and adapting new trends.
As any software developer worth their two cents can tell you, writing code requires a lot of repetition – write a few lines, check for any errors, rinse and repeat. Remembering how we used to manually write divs into an HTML document still sends shivers down my spine. But luckily, technology has always created shortcuts and solutions to automate some of the most tedious tasks.
Some tasks are mechanical and repetitive, but others require a certain level of flexibility and understanding that you can't rule out an algorithm, and that's where AI comes in. Yes, I know AIs are algorithms, but they are trained with real tools. -Worldwide data to solve real-world problems. It is not a theoretical mathematical model that may or may not be an accurate reflection of reality.
Now, AI is just a technology, but it is in the implementation that everything matters. We create tools designed to assist developers, engineers, salespeople, human resources, logistics and every other potential area imaginable. AI has become our trusted companion that has our back when things get tough, as long as we let it.
If AI is so powerful, won't we be replaced? It is not that simple. With the rapid growth of AI technologies, it is true that the way we understand work will change – some jobs will become obsolete, while others will adapt to automation and take a new direction. But here's the thing: AI wasn't created to replace us; It is intended to improve humanity.
Think of it this way: when calculators were invented, did we stop learning math? No! We simply started using these cool devices as tools to help us with complex calculations. Likewise, AI is just another tool in our developer toolbox – a tool that allows us to focus on higher-level tasks, leaving the repetitive, heavy lifting to machines.
The productivity revolution: how AI is transforming the business landscape
Okay, fine, AI is the future. I convinced you. So what's next? What does AI mean for companies? Let's take a look at where we are now and where we can go from here.
As I mentioned before, AI is not a new, revolutionary technology; it was always there. It turns out that it is only in recent years that both companies and users have recognized its existence. Do you know when the first artificial neuron was invented? 1943 . And neural networks, the models that power many of today's modern implementations, have been around since the 1980s.
Customer service chatbots, analytical tools, data collection and mining, pattern recognition, natural language processing (NLP), and market forecasting models – I could fill this entire article with the many ways AI has found a niche in our sector. I promise you that even the most reticent anti-AI investor has implemented an AI solution without even knowing it.
To paraphrase Thanos, what do we gain? All:
Automation: By automating repetitive tasks through intelligent algorithms or NLP-powered virtual assistants, businesses can free up valuable time and resources that would otherwise be spent on mundane activities. This new efficiency allows employees to focus on more strategic initiatives that drive innovation and growth.
Data Collection and Processing: Let’s not forget the power of data. In today's digital age, companies are swimming in an ocean of information – customer preferences, market trends, operational inefficiencies – you name it. But here's the problem: Without AI-based analytics tools to make sense of all this data, it all becomes nothing more than a confusing mess.
Actionable insights: AI comes to the rescue once again, transforming raw data into actionable insights. It can analyze vast amounts of information at lightning speed and discover hidden patterns or correlations that humans might not notice. This newfound knowledge allows companies to make informed decisions based on real-time data, rather than relying on instincts or outdated strategies.
Real-time data analysis: Quickly, gather all your data, clean it, process it and create an engaging story line that can attract your investors. What do you mean you can't do it in 5 seconds? AI certainly can. Thanks to faster data collection and processing, we can create fully automated workflows that deliver results in seconds.
But is faster and powerful enough to harm your productivity? Well, not exactly. Like any technology, only when we implement it responsibly and with a clear objective can we expect to see results. Just implementing to chase trends will certainly cause more trouble than it's worth.
AI-Driven Efficiency: How AI Empowers Workers
Let's start with something simple. In a recent study using customer support agents, significant evidence was found that introducing conversational agents like ChatGPT can increase productivity by up to 15%. It's an impressive number, but what's even more impressive is where this increase actually happened.
According to the study, the employees who made the most of conversational agents were newcomers and low-skilled workers, while the productivity increase for experienced workers was marginal at best.
The report's authors theorize that this may be due to the fact that AIs like ChatGPT are not trained to be experts in one area; rather, they are a sort of jack of all trades, which means very little to someone who is a veteran in an area, but is really useful for people with very little knowledge as it helps them move faster up the learning curve. experience. .
Training takes time and effort – time your employee could use on other tasks. Therefore, the fact that a new worker can just ask an AI and get a quick and assertive answer, instead of having to wait for a colleague to provide assistance, will certainly help him solve the problem faster and learn the basic information about the business in less time.
There are literally hundreds of examples like this video , from developers and enthusiasts, showing how apps like ChatGPT helped them learn how to code in a fraction of the time, without relying on expensive workshops and training. Now, I'll be the first to admit that ChatGPT isn't going to turn you into a senior engineer, but it has enough information to help you quickly get up to speed with a new technology stack.
For example, I've never been a big fan of JavaScript (I'm more of a Python person), but when someone in the family asked me for help on a personal project, I saw it as a good opportunity to get my feet wet. The idea was to create a web page that would serve as a teacher's aid helping students learn best practices with chatbots.
In my normal work, I would have done this with Django or Fastapi, but this time, I decided to try TypeScript, and more specifically NestJS, a wonderful full-stack framework that caught my attention because it is robust and because the mascot is a cat (yes, I'm very easy to convince).
If you've ever had to deal with Angular, you know how overwhelming it can be for newcomers. NestJS is based on the Angular framework and I have never used Angular in my life. Yes, I am crying as I write these words.
So here I am, reviewing the documentation, tearing my hair out at every mistake, and then I see this video of a front-end developer who decides to learn C++ with the help of ChatGPT, and I say, “Hmmm, I could do the same.” Two months later, I have a working app and I know NestJS well, thanks to OpenAI.
Now, ChatGPT is not an assistant. As the cutoff point is 2021, there is a lot that the tool does not know. You will still have to deal with deprecated functions and other things that require you to work together with the documentation. I learned a lot because ChatGPT taught me how to structure my code, how a project should be structured, how to use the CLI and much more.
Of course, my success story is partly due to not letting ChatGPT do all the work. I didn't copy and paste a single line without clearly understanding what it was doing, but seeing a first-hand implementation written in real time helped me familiarize myself with both the framework and the language.
I would argue that traditional methods are falling behind, not just because of speed and accuracy, but also because of customization and accessibility. Working with Bard, ChatGPT, or Bing is as easy as writing a message to a friend on the phone, with the caveat that that friend never sleeps and is available to me 24/7.
Let's delve a little deeper into the implications.
AI drives productivity
Historically, productivity growth has been a primary determinant of long-term well-being and prosperity. While the pace of economic growth has generally been slow in recent years, we see promising signs of a rise in productivity reminiscent of the digital technology-driven growth of the 1990s, driven this time by advances in the development of AI and machine learning. . Increased productivity is driven by progress in software, hardware, data collection and increased investment in advanced AI models.
Emerging research points to substantial productivity gains resulting from AI applications in a variety of tasks and occupations. AI isn't just automating mundane tasks; it is a “mind machine”, enabling cognitive work. Evidence suggests that software engineers can code up to twice as fast using AI tools . Likewise, writing tasks can also be completed twice as quickly and economists can be 10–20% more productive. Call center operators who used generative AI technology experienced a 14% productivity increase. The benefits of AI are not limited to increased productivity; customer sentiment and employee retention rates also improve.
Despite criticisms that label AI tools as “stochastic parrots”, their value in the current economic panorama is undeniable. It is crucial to remember that its economic value is not determined by its perfection, but by its ability to increase productivity. And by that measure, AI models are already making a significant impact.
A recent Goldman Sachs Report suggested that generative AI could potentially increase global GDP by 7%, a considerable impact for a single technology. This forecast is in line with potential productivity and output growth resulting from two main channels: increasing production efficiency and accelerating innovation.
First, generative AI can make cognitive workers more efficient, leading to increased production. For example, if AI could make cognitive workers 30% more productive, and if cognitive work contributed to about 60% of all value added in the economy, this could mean an 18% increase in productivity and output over the course of of years.
Second, AI can accelerate technological progress by increasing the productivity of cognitive workers involved in innovation, thereby contributing to perpetual productivity growth. Even a small increase in the rate of productivity growth can have substantial cumulative effects over the years due to capitalization, leading to significantly larger savings in the long run.
The power of AI to transform productivity and, consequently, the job market is undeniable. As we continue to unlock the potential of AI and overcome its limitations, we move closer to a future where AI acts as a powerful tool to improve productivity, drive economic growth, and reshape the job market in new ways. unprecedented.
No sleep, no exhaustion, no complaints
If there's one lesson to be learned from Star Trek, it's that AI is a powerful and trustworthy companion, as long as you don't install an emotional chip. Jokes aside, the always logical and reliable data could process hundreds of millions of inputs in milliseconds and didn't need to sleep or rest.
The same can be said of our AI models and raises questions about how to create AI. You're about to launch an app and want to see what the reaction is like in real time. Social listening is the name of the game, and an AI model is the main player. Based on past market trends, the model can tell us the emotions surrounding the launch, the most common complaints, the target audience, the future adoption rate, and more.
That's precious time your team can invest in collecting feedback, prioritizing key areas for improvement, and starting to talk about solutions in real time. Launches are always stressful and the first few days are essential for building a solid foundation. You want your brand to be associated with quality, and AI can provide the feedback you need to adapt and build solutions in these critical moments.
Unprecedented flexibility: a world of personalized solutions
The beauty of AI doesn’t just lie in its automation capabilities or data processing powers; it's also about the extraordinary flexibility it offers. Every business is unique and no single solution can meet the diverse needs of each organization. AI offers the flexibility to create customized solutions that perfectly align with a company's specific requirements and goals.
Take, for example, personalization in the marketing domain. With AI, marketing teams can leverage predictive analytics and consumer data to create highly personalized customer journeys. In turn, this leads to greater engagement, better conversion rates, and greater customer loyalty.
Or consider supply chain optimization, where AI can predict demand, optimize inventory and improve logistics, thereby streamlining operations and saving costs. In healthcare, AI-based tools can help doctors diagnose, plan treatment, and even predict potential health risks.
Thus, the flexibility of AI allows companies to leverage its power in the areas that matter most to them, driving productivity and growth in a targeted and strategic way.
In addition to increasing productivity, AI also plays a central role in the development and implementation of disruptive technologies that will redefine the future. Innovative applications of AI are consistently breaking the mold, proving that AI's impact goes far beyond increasing productivity. Its power to drive breakthrough innovations can result in entirely new products, services and business models that can transform industries.
For example, in the automotive industry, AI powers the technology behind autonomous vehicles, which promise to revolutionize transportation. In the financial sector, AI and blockchain are combining to create more secure and efficient methods for transactions and contracts. The potential applications are limitless and the innovative power of AI continues to surprise us.
In short, AI is no longer an optional addition to your technology stack or a distant reality. It is an integral part of our present and an indispensable ally for our future. Ignoring AI or delaying its adoption can leave you behind in the productivity race and limit your innovation potential.
But remember, like any powerful tool, AI is most effective when used responsibly and strategically. Blindly implementing AI solutions, without clearly understanding your business needs and objectives, can lead to wasted resources and missed opportunities.
So start with a clear vision of what you want to achieve with AI. Understand your strengths and limitations. Most importantly, see AI as a partner that can boost your productivity, fuel your innovation, and guide you toward a prosperous future.
Embrace the AI revolution and let it propel you forward. Let it be your ally in creating a world where productivity is not a hindrance but a drive, where innovation is not an exception but a norm, and where the future is not something to fear but something to eagerly anticipate. enthusiasm. Welcome to the age of AI-powered productivity. Welcome to the future.
If you liked this, be sure to check out our other articles on AI.
- Neuromorphic Computing: Discover the Future of AI
- Unmatched Accuracy: Optimizing Business Analytics with AI and BI
- Three common pitfalls you need to avoid in your AI implementation strategy
- 5 problems with AI that remain unsolved
- Psychometrics and AI: How to Empower Talent Acquisition
Source: BairesDev