On a short break from work, you pick up your smartphone and immediately see quasi-educational short-form videos, created by AI. The text is written by AI, the visuals are generated by AI and even the voiceover is done by AI. That is just a small example, but it is very obvious that artificial intelligence is everywhere. And when you return to work after that break, you probably should start using AI as well.
This image was generated by AI in just a couple of seconds
Generative AI is cool, but much more often companies are investing into artificial intelligence in order to improve their internal work processes. All of the journalists I’ve talked to at the Microsoft AI Tour event in Prague said that they are using AI for editing and transcribing texts. AI also distributes the workload, assigns tasks, schedules calls, summarises long texts and does much more. More and more businesses are implementing AI solutions in their daily activities and there is only one reason for it.
From your local spa or restaurant chain to your school or bookstore – almost anyone can benefit from AI. But soon the conversation will turn from benefits to survival. Companies that use AI will have a huge competitive advantage and those that reject it will simply not survive.
According to data shared by Microsoft, every dollar invested in AI implementation brings returns of $3.50. AI improves company’s productivity by 25-40%. Most of the time, these improvements are related to the optimization of the work processes. The examples presented at the Microsoft AI Tour show that AI is often used to process large amounts of data very quickly.
Scott Woodgate introduces the benefits of investing in AI
75% of information workers already use artificial intelligence in their work, revealed Scott Woodgate, general manager of security marketing at Microsoft. Many employees integrate AI into their activities by themselves, without the company’s initiative or even knowledge. Those who are not yet using AI are probably unaware of its capabilities. 65% of companies using AI are already seeing real and, most importantly, monetary benefits. For example, PayPal used AI to reduce HR costs by 15% and cut IT costs by 10%. Small companies are benefiting too. For obtaining and processing information, work distribution, marketing, customer acquisition and much more – AI is used every day and everywhere.
$3.5 return from a $1 investment – the questions about bringing AI to your work end here. The proliferation of Microsoft Office once had a similar effect. Artificial intelligence until 2030 could add 16 trillion to global GDP and Europe is expected to account for a quarter of that growth.
For now, AI can make workers more productive instead of replacing them
The good news is that, at least for now, it is linked to new jobs and not mass layoffs. At the moment, AI brings more benefits to productivity instead of opportunities to reduce the workforce. On the other hand, if you are looking for lucrative ways to enter the job market, improve your AI skills now.
Written by Povilas M.
