ChatGPT may appear to be yet another new technology gimmick, but it is an example of Artificial Intelligence (AI) with the potential to change the world as we know it. According to experts, artificial intelligence (AI) is the most important thing humanity has ever worked on, even more profound than electricity. Although some have dismissed AI’s significance, it has been demonstrated to improve prediction, which has the potential to transform economies, businesses, and work itself. While AI has yet to produce the expected productivity gains, this is not an unusual paradox. Similar scenarios occurred with computers, steam engines, and electricity, all of which took their time to catch on but eventually transformed the world. We are currently in “The Between Times,” when businesses see financial benefits from improved prediction. However, AI’s true potential will be realized only when its benefits in prediction are fully realized. Prediction will change how decisions are made in many cases, forcing organizations to adapt, and then AI will really take off.

Despite the potential benefits of AI, there are concerns about job automation and the monster of popular fears. However, AI does not make decisions; rather, it assists managers in making decisions. Companies must prepare for employees who regard AI chatbots as natural as calculators and spell-checkers. This implies that more coordinated legislation in areas such as intellectual property and individual protection would be beneficial. A greater understanding of the fact that humans do not have complete control over how things will turn out would also be beneficial. While AI may be slow to deliver, it will bring about fundamental change.

Source: Forbes (link)
Images: MidJourney, Prompts by Lewis Farrell

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