The Impact of AI on Productivity, Jobs, and Business Models
The rise of AI has brought about significant changes and uncertainties in various industries. Amy Webb, founder and CEO of the Future Today Institute, provides insights into the effects of AI on worker productivity, the job market, and the decision-making process for CEOs.
AI has the potential to enhance productivity for cognitive jobs that involve tasks such as reading, sorting, and tagging. However, it’s important to note that humans are still the ones utilizing the technology. While AI can aid in finding patterns and improving efficiency, there is also the question of whether it fuels our inherent laziness and what that might mean for the future.
When it comes to the job market, Webb raises thought-provoking questions. Instead of solely focusing on whether AI is replacing jobs, we should consider the requirements for that outcome to become a reality. For instance, AI systems need knowledge workers to train them, emphasizing a shift in the business models of certain industries. Webb highlights the need for CEOs to think beyond short-term cost reduction and explore opportunities for top-line growth, creating new revenue streams and fostering stronger relationships.
Webb encounters misconceptions about AI, particularly the idea that it is synonymous with text-based systems like ChatGPT. AI encompasses various technologies and tools, necessitating a deeper understanding of its capabilities and implications. Webb also raises concerns about data ownership and monetization, underscoring the importance of considering where the information is sourced, establishing trust, and assessing the implications of sharing data with AI systems.
Looking ahead, Webb suggests the rise of multimodal AI systems, which possess the ability to engage in multiple tasks simultaneously, using different forms of logic, reasoning, and analysis. This advancement opens up new possibilities for tackling complex challenges and aiding leaders in decision-making.
As for AI testing, Webb recounts an interesting experiment where AI chat tools were utilized to analyze a panel discussion on loan syndication, despite being outside of her domain expertise. The AI systems provided insights comparable to those of the actual panelists, underscoring the potential of AI in generating valuable information.
Source: Work futurist on whether AI will take your job: Humans have ‘innate sense of laziness’
