AI will be more of a management challenge than you think | by Uwe Weinreich | February 2024

AI FOR BUSINESS

The impact of artificial intelligence on the business world is still underestimated. Strong leadership is required.

10 min reading

19 hours ago

Uwe Weinreich — Photo by Paul Wehden

In 2023, ChatGPT acted like an earthquake, disrupting traditional business practices, scaring people of the future and paving the way for new businesses.

ChatGPT has created a fundamental shift in what AI can contribute to the economy. But that’s just the beginning!

Further development will require fundamental changes in processes, roles and the entire organization of companies. We will return to this later.

We all tend to overestimate the short-term impact of new technologies. This tendency leads to hype cycles that end in disillusionment. And we all underestimate the long-term impact and fundamental changes that new technologies bring.

Shaping the future requires specific skills that are not yet fully developed.

I wouldn’t say I can see much further than others, but I’m sure a lively discussion of future developments will lead to better understanding. I would therefore like to propose a model that illustrates the challenges that companies will have to face in the near future. Let’s discuss it.

AI is changing the world of business. © Uwe Weinreich, d License CC BY SA 4.0

Artificial intelligence is not new. It has been part of many business processes for years. The simplest implementations help people be more productive.

The longest historical path is that of analytical and predictive artificial intelligence, which is based mostly on statistical methods. They make it possible to analyze huge amounts of data and detect patterns that would otherwise go unnoticed.

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