Mention the word ‘AI’ and most people will associate it with one primary name: ChatGPT. Launched by Open.ai with a bang on November 30, 2022, it soon drew vast swathes of media attention and associations with Skynet from the Terminator films.
ChatGPT signed over 1m users in the first five days and social feeds were filled with articles and content generated by it. The pros and cons of its use quickly followed in a variety of articles and forums.
I suspect that some of you might be sitting reading this and wondering if it was written by ChatGPT? The answer is no, but you can check that with an AI article checker.
(But note, you can also use AI to humanise an article to fool an AI checker!)
For me, this is one of the main problems with the current use of the term ‘AI’ or artificial intelligence to use its full title. Too many conversations around AI refer to a small slither of the wider AI ecosystem – large language models (LLMs). ChatGPT is such a model, as is Google’s Gemini, and Perplexity, which was founded by Aravind Srinivas in 2022. But these are one part of a much wider system and one that has been around for a long time.
In its online resources, IBM defines AI as: “technology that enables computers and machines to simulate human intelligence and problem-solving capabilities.”
When coupled with other technologies it can undertake actions that would normally require human intelligence such as guiding us via a GPS navigation unit, or operating an automated online chatbot, or using a digital assistant. We’ve all seen the stories in the past where drivers have ended up stuck down a narrow lane or driven into a river as they blindly followed their satnavs.
It’s worth noting such stories are less frequent nowadays as technology and generative AI has improved, although human stupidity still exists.
Many people are suggesting that the quantum leap in generative AI, shown with recent developments in ChatGPT, means we are at the cusp of a large seismic shift in business, akin to the next internet boom.
There are two sides to the AI equation with the naysayers saying, “its big brother and will kill millions of jobs”, and advocates saying, “it will allow people and businesses to do more with less and provide breakthroughs in all manner of fields.”
These arguments go back to the industrial revolution, where mechanisation disrupted the role of human power that changed the workforce, and then the railways changed the fortunes of the canals, and countless other such scenarios. AI has already brought large-scale change, but it now stands poised to accelerate that change at quantum levels.
As with all systemic change, there will be winners and losers on the basis of numerous factors such as existing business models, ways of working, global market demand, and continued evolution of AI capabilities. If you run a growing business, it’s time to stop and reflect on how to harness the power of AI or risk getting left behind.
If you use technology in your business, chances are you’ll end up using AI by default as many existing products and services your business uses might already be exploiting or evolving with the use of AI plug-ins.
For example: Microsoft Copilot has been created for use in Microsoft 365 and Microsoft’s support functions across your Microsoft suite of products. Zoom, Loom and countless other Apps now have AI assistants for summarising notes, generating emails, and many other repetitive tasks.
Be aware that artificial intelligence is much broader than simple content creation. ChatGPT and other models make it very easy to create articles, reports, data tables, simple legal documents, basic programming, and images, but this is the mere tip of the iceberg as to the potential power of AI for your business success.
To help you focus your AI conversation, here are five key strategic questions I’d encourage you to work through with your teams:
Process automation can lead to significant improvements in speed and efficiency for repetitive and data-intensive tasks thereby freeing up valuable resources.
AI can crunch large volumes of data much faster than your staff and it doesn’t falter past 5pm. AI can enhance accuracy and provide a competitive business edge by enabling more data-driven and informed choices. It’s evolving fast though, so don’t be put off by earlier versions or experiences.
AI can be programmed to enhance customer service by providing opportunities such as personalised experiences, quicker response times, easy translation services, and 24/7 support capabilities. It could be the difference between a happy customer or a lost customer.
While AI offers numerous benefits, it also comes with well publicised risks such as data privacy concerns, biases in decision-making, and potential job displacements. Any use should be thought through and checked with a standard risk register aligned with company policies and current legislation.
AI is not a magic bullet, as with any new technology it’s important to understand the likely return on investment against committed resources. The speed of change will mean ongoing and frequent tracking will be needed.
Addressing these questions is not just about implementing new technology; it's about transforming your business operations, culture, and external relationships to ensure that you continue to grow and thrive during the next evolution of business change.
Finally, I would encourage you to check in regularly and engage with ongoing AI conversations to boost your understanding as what you don’t know will hurt you in this rapidly evolving area.
About the author
Andrew has run his own business consultancy for over 14 years. Prior to that he has had senior roles in academia and in a variety of sales related positions. He is experienced working within varying business areas across the private, public and charity sectors.
Andrew acts as a business coach and delivers masterclasses for Boost's Growth Catalyst service. He enjoys helping growing and scaling businesses to deliver results via increased sales, managing change and growing teams. His approach to providing professional support is to meet businesses to discuss support eligibility and if approved, to align options to suit their needs.
If you’re looking to grow, scale or start your business, use Boost; Lancashire’s Business Growth Hub. We offer a range of funded business support services. Call our Business Support Helpdesk on 0800 488 0057 to find out more or complete our enquiry form.
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