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Generative AI is fast establishing itself as a game changing tool for the modern workplace, not only enhancing automation, but also improving decision-making effectiveness across organisations. The impact of AI is prolific as demonstrated by the results of a McKinsey Global survey on AI, which found that within less than a year of introducing AI into the workplace, one-third of businesses reported extensive and regular use of generative AI in at least one business function.
As our working world becomes far more technologically connected and where machines are set to take on a significant portion of mundane tasks, business leaders must begin to shift their focus to how they manage their workplace with AI being more integrated operationally. They will need to verify the work generated by AI and ensure the work is accurate, of a high standard and nuanced. And this will be key across the entire enterprise including all functions. Leaders will need to critically engage with AI, as well as challenge and refine AI capabilities where necessary.
A deeper dive: Generative AI unpacked
Generative AI is an artificial intelligence technology capable of creating unique content such as images, video, music, speech, and even software code. Since its introduction, it has radically transformed the way we work, especially with the arrival of ChatGPT, a chatbot known for its human-like interactions. According to a UBS study, ChatGPT was estimated to have reached 100 million active monthly users within in first three months.
With the ongoing shift towards AI platforms, workplaces are set to undergo a complete overhaul, if not already. Despite concerns about AI replacing jobs, some 70% of people are open to delegating tasks to AI3, aiming to decrease their workloads. This highlights the potential for AI-powered tools to alleviate digital debt, build AI aptitude, and empower employees in the modern workplace.
How is Generative AI transforming the modern workplace?
Generative AI is undoubtedly reshaping the modern workplace, spearheading a shift for employees to move away from routine tasks to more strategic and creative roles; it is not only accelerating automation but also creating a new set of roles.
Workplace applications are evolving to become conversational, proactive, and interactive, requiring a reimagined user experience. Content creators, for instance, are transitioning into content editors as AI takes over the generation of initial drafts.
Additionally, generative AI is enhancing creativity, improving decision-making, unlocking productivity, and upleveling skills, resulting in a more dynamic and efficient work environment. While some fear job displacement, many see the rise of AI as an opportunity to delegate routine tasks and focus on more complex, value-adding activities, with McKinsey estimating that up to 30% of hours worked today could be automated by 2030.
How you can benefit from Generative AI
As it redefines the modern workplace, generative AI is providing transformative organisational benefits that are paving the way for organisations to be more innovative and efficient. Here are three immediate benefits that you can gain from:
Faster product development
Generative AI is revolutionising product development processes by automating and accelerating the creation of new products ranging from pharmaceuticals to alloys. It leverages advanced algorithms to generate a wide array of materials swiftly and on a large scale, effectively reducing the time and cost associated with traditional methods. This not only expedites the product development cycle but also allows for greater experimentation and innovation.
Enhanced customer experience
Through its ability to augment workers’ capabilities in content creation and improvement, generative AI plays a pivotal role in enhancing the customer experience. It aids in drafting and editing content, summarising information, simplifying complex concepts, and classifying content. These capabilities enable the delivery of more personalised and engaging experiences to customers, fostering loyalty and satisfaction.
Improved employee productivity
Generative AI is a powerful tool for boosting employee productivity. By automating repetitive tasks and providing real-time suggestions and insights, it empowers employees to focus on strategic and creative tasks. Whether it’s generating code, answering questions, or providing additional information, generative AI acts as a valuable assistant that enhances the efficiency and effectiveness of workers.
The pitfalls: the risks and how to mitigate them
While generative AI is certainly a game changer, it is not without its risks. It’s essential for organisations to understand these challenges intimately, keep on top of them and implement strategies to mitigate them. Here are three of the main risks to be aware of:
Accuracy
Despite their advanced capabilities, generative AI systems can occasionally generate inaccurate or fabricated data. As such, it’s crucial to thoroughly evaluate the accuracy, appropriateness, and utility of AI outputs before relying on or distributing this information. Some level of human input and verification is key so putting measures in place to ensure this is essential.
Copyright
The use of generative AI raises valid concerns about intellectual property (IP) rights and copyright infringements. Enterprises should assume that any data or queries entered into generative AI models could potentially become public knowledge and should implement measures to prevent unintentional exposure of proprietary information.
Cybersecurity
The potential misuse of generative AI systems by malicious actors for cyberattacks or fraudulent activities is a significant risk. For instance, deepfakes created using generative AI can be used for social engineering attacks. Implementing strong cybersecurity controls is essential to counteract these threats.
Introducing Microsoft Copilot
Microsoft Copilot is one significant technology player in the evolution of generative AI modern workplace tools. As an everyday AI companion, Copilot is designed to enhance productivity and stimulate creativity in a user-friendly format. It is seamlessly integrated into Microsoft 365, functioning alongside users within the apps they use daily, like Teams, Outlook and Excel:
- When Copilot joins a Teams meeting, users will receive a summarisation of discussions as they happen; it will notate action items and alert the users to unresolved questions that must be addressed. Copilot can also highlight key meeting points, simplify complex topics to foster elevated company intelligence and streamline team updates.
- Copilot helps users manage their inboxes more effectively by ranking emails by importance, summing up threads, and producing replies, ultimately augmenting users’ productivity and effectiveness.
- When pairing Copilot with Excel, users will receive an in-depth analysis based on raw data, generating insights, trends, and suggestions.
Copilot can provide clarity on complex topics, foster knowledge growth, streamline team updates, generate innovative ideas, prioritise emails, and uncover similar themes and patterns. It also offers an entirely new experience with its Business Chat feature, which allows integration across all of the user’s devices to keep them connected. Its development has been further heightened by advanced OpenAI models, GPT-4 and DALL·E 3, which equip it with fast and efficient performance capabilities.
As you can see, generative AI is hands down transforming the modern workplace. To find out more about how to integrate generative AI into your operations with best practice in mind, contact us here.
References:
https://www.mckinsey.com/capabilities/quantumblack/our-insights/the-state-of-ai-in-2023-generative-AIs-breakout-year
https://www.reuters.com/technology/chatgpt-sets-record-fastest-growing-user-base-analyst-note-2023-02-01/
https://www.microsoft.com/en-us/worklab/work-trend-index/will-ai-fix-work
https://www.mckinsey.com/mgi/our-research/generative-ai-and-the-future-of-work-in-america
https://adoption.microsoft.com/en-us/copilot/
https://www.theverge.com/2023/12/5/23989052/microsoft-copilot-gpt-4-turbo-openai-models-code-interpreter-feature
