There is wide consensus amongst senior business leaders (especially in the IT industry), futurists, think-tanks and first nation governments that Artificial Intelligence (AI) will change almost all aspects of our lives. Some think that AI will have a similar impact on our lives that the Industrial Revolution had on the lives of our forefathers.

 

Many Australian businesses are oblivious to AI let alone the potential impact it will have on their business. Some are vaguely aware of AI, but like the Ostrich with its head in the sand, they don’t won’t to confront the reality that change is coming quickly.

 

These modern-day Luddites will see their businesses slowly disappear as AI will automate many functions at work. Administrative jobs that are repetitious will be the first to go. Those that embrace AI and adapt will be able to deliver goods and services at lower the costs than those who act like an Ostrich. Those that don’t adapt will go out of business.

 

As the Ostrich’s business slowly evaporates, his head will be forced to come out of the sand. By then, it could be too late to catch-up and catching up may cost a lot of money.

 

For those businesses that are not particularly efficient or have non-avoidable costs like high payroll, embracing AI now, offers the opportunity to race past the opposition by becoming more efficient and offer lower management.

 

So will AI kill your business?

Well, that is up to you.

 

Just as the adoption of the computer in the workplace, killed tens of millions of office secretary and stenograph jobs, if you don’t do anything, Artificial Intelligence will eventually kill your business.

 

Those businesses that have don’t have their heads in the sand, will have time to adapt to the AI tsunami that is coming.

 

So why will Artificial Intelligence eventually kill my business

 

The answer is simple. Because your rivals will adopt Artificial Intelligence where they can. This will lower their costs per unit of output, increasing their profit margin or allowing them to cut their prices, or both.  Eventually, you won’t be able to compete.

 

Why is Artificial Intelligence so attractive?

Artificial Intelligence doesn’t go on holiday, take maternity leave or have sick days.

 

Artificial Intelligence works, 24/7, 365 days of the year and doesn’t complain.

 

But most importantly, Artificial Intelligence is FREE. If just one support role was replaced by AI, the cost saving is that person’s salary package. This is the primary reason why businesses will adopt AI in ever increasing numbers. The cost savings and the productively gains on offer are enormous.

 

We discuss AI at some depth in other parts of this website.

 

Intrinsic can help

Once we understand your business structure, we can advise you on the best way to adapt to the change AI brings.

 

AI will change the way you do business. Once you decide on how you want to meet the challenge of AI, we can write new policies and procedures for you or make the necessary changes to existing policies and procedures.