Will AI replace humans? Only 21% of companies are preparing for the challenges and opportunities of the new era of AI

Will AI replace humans? Only 21% of companies are preparing for the challenges and opportunities of the new era of AI
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Since online AI tools such as ChatGPT, Midjourney and Copilot became readily available, a new era in the industry has begun. Users can create content, images, presentations, and even websites using simple prompts. But can artificial intelligence completely replace humans? In this article, we take a closer look at AI and explore its limitations and possibilities.

What is artificial intelligence? 

What is the definition of Artificial Intelligence (AI)? It is the ability of a computer to perform certain tasks that require human intelligence, such as learning, pattern recognition and decision making. AI is applied in various fields, for example:  

  • healthcare to improve diagnoses,  
  • retail to personalize the customer experience, 
  • production to increase efficiency and safety  
  • and finance for fraud detection and risk management.  

The history of AI dates back to the 1950s, when the term was first used during a workshop at Dartmouth College, and it has gone through a number of evolutionary stages since then. According to Free Code Camp, AI research at the time was based on the premise that intelligence could be mimicked through mechanical manipulation of symbols and the development of algorithms capable of performing tasks that required human thought, such as problem solving and natural language processing.

Examples of such systems were the General Problem Solver (GPS), a system designed for solving general problems, and ELIZA, a program simulating a conversation with a psychoanalyst, which was one of the first attempts at natural language processing. 

In retrospect, artificial intelligence in the 1950s symbolized the hope and ambition of the scientific community to create machines capable of emulating human cognitive abilities, although the technology and understanding at the time were still far from realizing these visions. 

Artificial intelligence will not replace humans, a human with AI will replace a human who does not use AI. You may have heard this before. It's the most commonly used answer to the question "Will AI take over human jobs?". And while it's technically a true answer, it's also evasive and misleading. Because it suggests that the short answer is "No, it won't". And that is no longer true. Why? Because a human with AI can replace more than one human who doesn't use AI.  

That was one of the goals of this tool from the very beginning - to make it more efficient. And it succeeds. AI is already helping people reduce time on various tasks from hours to minutes. Which means businesses can do the same work with fewer people. So AI can and will replace humans. But there's no need to panic. At least not yet. Businesses have at least three options to maintain headcount.

Tip: You might be interested in our article Using AI in call centres increases customer satisfaction by 61%. 

1. Scaling: maximize your team's performance with AI 

One of the main benefits that companies can gain from using AI is the ability to increase productivity. This means you can get more work done with your current team. However, this opportunity is most beneficial for those who start implementing AI as soon as possible. Companies that are hesitant to use AI may be at a disadvantage because there will already be competitors in the market who are using AI. Therefore, it is important to start as soon as possible. 

Thus, generative AI is having a significant impact on productivity and workforce dynamics, as several studies have shown: 

  • Generative AI has been shown to significantly improve employee productivity. For example, a study by Nielson Norman Group highlights a 66% improvement in user performance when generative AI tools like ChatGPT have been used in business. Specifically, customer support teams using AI assistance experienced a nearly 14% increase in productivity, with the least experienced and less skilled workers seeing a 35% improvement. This improvement shows that AI can improve the quality and efficiency of work, especially for complex tasks or for workers with less experience. 
  • According to a McKinsey survey, big changes are expected in the labour market due to the development of artificial intelligence. While the number of jobs in the health and technology (STEM) fields is expected to grow significantly, up to 23% by 2030, positions in administration, customer service and food service are likely to decline due to automation. This change shows how important it is for people to adapt to new labour market demands, which may involve retraining or expanding their skills. 
  • Top AI Productivity Statistics estimates that artificial intelligence (AI) could increase labour productivity by up to 40% by 2035, with countries such as Sweden, the US and Japan expected to see productivity increases of around 37%, 35% and 34% respectively. This shows the great potential of AI to transform different sectors and areas, leading to a more dynamic and efficient global economy. 

2. Quality: the role of AI in improving the quality of work 

Another way companies can use AI is to improve quality. By using AI, you can increase the overall level of service you provide, carefully control every detail of your products or services, all without increasing costs.  

With AI, you can also reduce the number of errors caused by the human factor. AI can take over monotonous, repetitive or time-consuming tasks, allowing your employees to engage in more interesting and meaningful work. This will lead to higher satisfaction and better focus on their core job tasks, which will contribute to higher quality work. 

Generally speaking, integrating AI into work processes can improve the quality of work by allowing employees to spend more time on the detailed control and creative aspects of their work. 

3. Innovation: step by step to endless possibilities 

The last option is to go beyond and do things that were unthinkable without AI. Instant translation (more accurate and contextually relevant), texts and images tailored to each request, analysis of social trends, etc. Developing new products and services using AI can lead to a competitive advantage in the market. Here, companies can use their creativity and problem-solving skills to explore new possibilities with AI. 

The call to embrace AI is clear. It is not a question of whether AI will be essential to business processes; it most certainly will be. Companies that choose to apply AI capabilities will determine the future of their industries and set the standard for enterprise innovation, efficiency and growth. It's time to act, rethink strategies and integrate AI as a key element in your company's journey. And what about the people who have been replaced by AI? If they do it right, they'll learn a little AI and transform their skills into something "a little" different. But more on that some other time.  

Innovations in artificial intelligence are evolving rapidly and changing traditional approaches to business and research. Statistics show that AI increases productivity and enables the creation of new products and services, giving companies a competitive advantage. Here is a summary of a few key findings: 

  • According to the McKinsey survey, only 21% of respondents said their organisations had policies in place for using generative AI, indicating a lack of preparedness by companies to address the potential risks associated with AI. Companies that are using AI effectively are implementing it in many areas of their business, particularly in product and service development, and are less focused on cost reduction. These 'mature' organisations are also investing more in AI than others. 
  • When it comes to productivity, the use of generative AI such as ChatGPT can make significant advances in research and work in a short period of time. Millions of workers in various professions are expected to experience productivity gains. Generative AI has wide application across different job roles and activities and can impact up to 80% of the US workforce. 

These findings show the enormous potential of AI in business and research and highlight the importance of adapting to this rapidly evolving technology. 

Creation of a new department focused on AI 

At Algotech, we have created a new department for artificial intelligence under the leadership of Vojtěch Černý, which is clear evidence that we approach innovation in the field of AI conscientiously and with all seriousness. This strategic move not only underscores the company's commitment to using the latest technologies to optimize its internal processes, but also promises to expand its AI-focused service offerings for customers.  

By integrating AI into our services and products, we are not only improving the quality of our offerings, but also opening the door to endless possibilities for innovation that can revolutionize client communications, customer relationship management and application development. 

In conclusion, with the new AI department and a strong focus on innovation, we are not only confirming our leadership role in the technology industry, but also demonstrating our readiness to meet the challenges and seize the opportunities that the new era brings. Human-AI collaboration is becoming a key element of the company's strategy, opening the way to new opportunities for its development and the delivery of services that exceed client expectations and shape the future of the industry.  

Vojtěch Černý and his team have an exciting journey of innovation ahead of them, where together they will explore and exploit the potential of AI to achieve unprecedented opportunities in efficiency, quality and value creation for our clients. Would you like to arrange a free consultation to use AI for your business? Email ai@algotech.cz and we'll be happy to talk to you. 

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