The Increased Role of AI and Technology Today

March 14, 2023

The Increased Role of AI and Technology Today

“Artificial intelligence is a tool, not a threat.”—Rodney Brooks

Elon Musk and Stephen Hawkings agree on one thing regarding artificial intelligence (AI)—they both say that it could be the best or the worst thing to ever happen for humanity. And it is true. AI is a tool, and like all tools, it can produce good or bad outcomes depending on whose hands it is in.

The debate isn’t whether AI is here to benefit or harm mankind, but how can we, as leaders, entrepreneurs, and pioneers, utilize it to bring out the best in our businesses, the industries we belong to, our teams, and ourselves?

But one thing is clear. In this world where digitalization and advancement in technology grow at a rapid pace, AI and tech play increasingly larger roles in humans' everyday lives. We all interact with AI in our daily lives, even if we are not aware of it.

Industries that want to remain competitive and agile can’t ignore the different ways AI is revolutionizing the way we work, as well as the many opportunities and risks it presents. There are many ways it can be used in business to streamline processes and process vast amounts of data quickly.

It is crucial to understand how we can use it to our advantage and reduce the risks it poses for us as it becomes more and more integrated into our work and daily lives.

What is AI?

The term "artificial intelligence" refers to a broad category of computer programs that carry out human-like tasks like planning, problem-solving, and learning. 

The most common type of AI used in businesses is machine learning—these are algorithms designed to process huge amounts of data and are capable of “learning” over time. The more data you feed this type of AI, the better the model is. They are able to sift through data and patterns quickly and efficiently, analyzing the data and identifying anomalies that humans otherwise would have missed.

A more specific version of machine learning is Deep Learning AI—they are capable of performing more advanced, nonlinear functions by analyzing a wider range of factors in the neural network. Deep learning AI allows contextualization of the data you feed it, making it a more scalable model.

The role of AI and tech in businesses

We are always looking for ways to improve our business so that we remain competitive in the market and serve the needs of our customers better. Artificial intelligence (AI) is a fantastic tool for streamlining some processes that would otherwise be laborious, repetitive, and time-consuming.

Algorithms that help you analyze, contextualize, and organize large amounts of data help decision-makers make better informed, efficient, and precise decisions.

It’s also been used increasingly in cybersecurity. By identifying patterns and tracking data, AI is a vital tool for finding gaps in network security, identifying cyberattacks, and assisting in the prevention of future threats.

AI has also made huge waves in customer care. Numerous business owners have found that CRM automation and AI integration help them keep track of their expanding databases and make sure they maintain and stay in touch with them. Customer support features such as chatbots are also becoming the norm in businesses nowadays, making it easier to get to your clients' needs faster and ensuring that you can provide quality assistance 24/7.

Research, managing your emails and calendar, and even creating content have also been made easier and more cost-efficient through AI. It still requires you to come in to fact-check and tweak the outputs, but it saves you a lot of time, energy, and money.

Despite being around since the 1950s, AI is fairly new in mainstream society, and its potential utility in the future is vast and unknown. It has made possible what was previously thought impossible, allowing us to unlock human potential a step further.

Some people fear that AI is here to replace humans and steal their jobs, but I believe that while it is capable of processing and analyzing enormous amounts of data faster, it can never replace the human touch. It isn’t going to get rid of amazing workers; it just enhances the work that they do.

I agree with what Alejandro Navia, the co-founder of NFTNow, said in my interview with him: AI will bring a renaissance of human creativity and ingenuity. No matter how increasingly large its impact is on businesses, it can never 100% replace the human touch. In fact, I think that because of AI, our work will be valued more. Especially if it is from someone who has a reputation for making things even more amazing.

While it can bring an identity crisis to most of us, it also challenges us to reflect on how we view ourselves and what values we attach to our identities. And once we can find the inherent value we have within us, AI and technology are able to help us focus on nurturing the things that matter most to us.

Thanks for reading “A Brilliant Tribe.”