In our AI training, consulting, and strategic planning sessions with clients, we've noticed a consistent pattern when the topic of AI arises. Opinions tend to fall into one of two extremes: either a belief that AI will rapidly evolve toward human-level intelligence, displacing much of the current workforce, or a dismissal of AI as a passing fad with little lasting impact.
This fixation on far-off scenarios is causing many companies to overlook the tangible, immediate benefits generative AI offers.
The most common AI utopia (or dystopia, depending on your level of optimism) is artificial general intelligence (AGI), sometimes described as an AI that can act as people do. The concept of AGI is the ambition of many modern AI companies, like OpenAI. However, the concept lacks both an agreed upon definition and a clear timeline for when it may be achieved. We’re left with vague predictions of when we’ll have some form of intelligence surpassing an undefined threshold, making future tools significantly more powerful than current generative models.
Conversely, even if progress plateaus and generative AI proves to be a dead end toward human-level intelligence, we're still left with remarkably powerful generative tools that can substantially impact businesses today. In essence, the worst-case scenario for AI's continued evolution still leaves us with incredibly useful tools we can leverage immediately.
Regardless of the outcome, businesses must consider both short-term and long-term strategies for AI adoption to support their goals. As we frequently emphasize, the most effective way to learn AI is through hands-on experience with the tools. The data supports this approach, indicating significant gains for those who embrace AI now.
AI's Current Impact
A recent McKinsey report reveals that 65% of organizations now use generative AI, nearly doubling from the previous year. These early adopters are seeing concrete results, including up to 25% increase in efficiency and 40% improvement in quality. This is achieved by offloading repetitive tasks, freeing up time for more creative or specialized work. Additionally, we're observing revenue increases of over 5% in areas like supply chain management as companies integrate AI into their workflows.
The Price of Hesitation
Companies reluctant to adopt AI risk falling behind. We've consistently seen that AI adoption in the workforce yields two immediate benefits. First, the accessibility of these tools leads to instant improvements in efficiency and quality, particularly for less skilled workers. Second, using the tools inherently enhances users' proficiency, creating a positive feedback loop of improvement. There are few tools that offer immediate benefit with compounding benefit the more time you spend using the tool.
Delaying the introduction of these tools means lagging behind competitors who are already leveraging AI to boost productivity and drive innovation. The AI Index 2024 from Stanford University provides compelling evidence that AI is enhancing, or outperforming, both worker output and work quality across industries.
Rethinking AI Strategy
Instead of adopting a wait-and-see approach and treating AI as a distant consideration, companies should view these tools as integral to their growth strategy. While long-term planning is crucial, and every company should envision AI adoption scenarios ranging from best to worst case, this shouldn't come at the expense of leveraging AI's current capabilities to stay competitive and gain a deeper understanding of its potential.
It's easy to get swept up in grandiose visions of AI's future or to be deterred by negative headlines or underwhelming initial results. However, this often leads to overlooking the very real benefits available today, from streamlining routine tasks to enhancing decision-making processes. Current generative AI models offer significant value that too many businesses and nonprofits are failing to capitalize on.
Preparing for Challenges
Embracing AI today not only offers immediate benefits but also prepares you for the inevitable challenges all companies will face as they integrate this technology. At Mostly Serious, we took a proactive approach by developing one of the first responsible AI usage guidelines in our industry. At the time, even our legal team was navigating uncharted territory, with no existing policies to reference from their other clients.
Our early adoption has allowed us to refine our policy iteratively as we gain deeper insights into how our team utilizes these tools and the potential issues that may arise. For instance, we've implemented protocols to ensure that no proprietary or confidential information about Mostly Serious or our clients is ever input into public AI tools. We've also established verification processes for all AI-generated information to account for hallucinations or fabricated facts from large language models (LLMs). Additionally, we maintain oversight to identify and mitigate any biases that these models might generate.
These lessons, gained from our early experiences with AI, have positioned us ahead of the broader market in identifying and addressing potential downsides. While it may seem safer to remain on the sidelines, this approach often leads to a scramble to catch up with competitors who have already integrated AI into their operations.
Dealing with challenges becomes exponentially more difficult when you're simultaneously rushing to adopt a technology that you've delayed embracing for too long. By engaging with AI early, you give yourself the time and space to thoughtfully navigate potential pitfalls while staying competitive as AI adoption continues to explode.
How to Take Advantage of AI
At Mostly Serious, we're taking a three-pronged approach to utilizing AI and introducing it to our clients. We offer foundational training to bring teams up to speed, in-depth strategic consulting on how to leverage AI immediately and in the future, and custom solutions to build novel solutions powered by generative AI. An example of our custom solutions is the Springfield Trip Assistant, developed in collaboration with the Springfield, Missouri Convention and Visitors Bureau, which pushes the boundaries of current AI capabilities.
Each of these methods provides varying ways to engage with AI without necessarily committing to a permanent strategy. This agile adoption approach ensures that our business, and our clients, aren’t left behind. At the same time, we aren’t trying to predict the future of an unpredictable and rapidly changing new technology.