Empowering Businesses to Make Informed Decisions in the Age of AI
On November 30, 2022, the introduction of ChatGPT marked a significant milestone in the realm of artificial intelligence, accompanied by an unintended consequence: a surge in fear-mongering. LinkedIn, established initially as a platform for fostering professional connections, became a virtual battleground for fear-induced AI marketing. Suddenly, our feeds became inundated with a deluge of videos, carousels, and reports, all echoing a strikingly similar narrative.
- “This new technology will change everything. Not in 10 days. Today.”
- “Your role is threatened.”
- “Your company is threatened if you don’t implement AI right now.”
- “You are very late to the game, but we can help you catch up before it’s too late.”
- “While you were sleeping, hundreds of new companies were created that are killing it in the AI space.”
- “Everybody, with the exception of you, is making unseen profits by implementing AI.”
- “We have been in this space for so long. We have experience making the new technology work for you.”
However, it’s time to untangle reality from the web of fear. Over the past two decades, the industrial-research complex has repeatedly missed the mark on predictions—be it IoT, 5G, AR, VR, voice search, Web3, Meta, and now AI. McKinsey’s’ latest report claims that Generative AI could contribute trillions to the global economy, but we must remember that these reports often serve as tools for conferences, PR, and sales. So let’s examine the fear-mongering claims individually and uncover the truth behind the curtain of uncertainty.
Examining Fear-Mongering Claims: Separating Fact from Fiction
Let’s delve into the claims put forth by the fear-mongering industry and shed light on their true nature:
- Fiction: “This new technology will change everything. Not in 10 days. Today.”
- Fact: Such claims are baseless. Change, especially transformative change, requires time and careful implementation.
- Fiction: “Your role is threatened.”
- Fact: This assertion depends on the nature of your work. While repetitive administrative tasks may be vulnerable to automation, the threat is not imminent for most professionals. In fact, leveraging AI as a virtual assistant like LLM can enhance your job performance.
- Fiction: “Your company is threatened if you don’t implement AI right now.”
- Fact: This claim is unfounded. Familiarizing yourself with AI technology and exploring its potential benefits is essential. Introducing AI gradually and integrating it into specific routines can be a strategic approach.
- Fiction: “You are very late to the game, but we can help you catch up before it’s too late.”
- Fact: Contrary to this assertion, it’s actually an opportune time to explore AI possibilities. Embracing AI is in its early stages, with ample room for growth and innovation.
- Fiction: “While you were sleeping, hundreds of new companies were created that are killing it in the AI space.”
- Fact: While substantial investments are made in companies that use AI as their foundation, the idea of companies “killing it” in AI is an exaggeration. Even ChatGPT, despite its capabilities, is not without limitations.
- Fiction: “Everybody, with the exception of you, is making unseen profits by implementing AI.”
- Fact: Apart from misleading claims made by opportunistic salespeople, most companies are experimenting with AI and utilizing it on a limited scale to augment their operations.
- Fiction: “We have been in this space for so long. We have experience making the new technology work for you.”
- Fact: Beware of self-proclaimed experts who have swiftly transitioned from social media to Web 3/Meta and now claim mastery of AI. True expertise in this evolving field requires a dedicated focus and ongoing learning.
AI presents a fantastic opportunity for transformative change in businesses. By using AI compassionately and aligning it with your business needs and customer desires, you can unlock its potential to improve your operations. However, fear should never be the driving force behind working with this technology.
Instead, take a calm and proportional approach grounded in clearly understanding your business objectives. Embrace AI as a tool to augment human capabilities, automate repetitive tasks, and enhance productivity. Encourage a culture of learning and upskilling within your organization to leverage AI effectively. By confidently approaching AI implementation and focusing on responsible usage, you can harness its benefits and pave the way for a successful future