The AI revolution is upon us, mirroring the transformative impact of the Industrial Revolution.
Just as assembly lines automated manufacturing tasks, AI is now streamlining knowledge-based processes. Be it market research, software development, or consulting.
This is not just another fad or technology, but a transformative change in the way we work and live – having non reversible change in economies.
So what is happening:
1) Automation of Routine Tasks: AI enables the automation of repetitive knowledge work, allowing professionals to focus on creativity and innovation.
2) Increased Productivity: With AI handling mundane tasks, businesses can scale operations without a proportional increase in workforce. Production will increase, and so will consumption.
3) Inputs & Context Matter: With automation, and structured output, the biggest difference lies in Inputs. The quality and context of the Inputs will make all the difference. Human-in-the-loop will ensure quality and additives to fine tune the output at scale.
4) Enhanced Customization: Automation leads to more specialized and tailored solutions at scale, meeting diverse client needs effectively.
5) Industrial revolution took a lot of time to spread and make an impact on the economy and population. However, due to connected nature of AI, the impact is much faster, wider, and deeper. People have to adapt fast to survive, and thrive.
I have covered this in the video below, and my short keynote at Merchant Chamber of Commerce & Industries.