The value of AI to 21st-century businesses has been likened to the strategic value of electricity in the early 20th century, a time when electrification transformed industries like manufacturing and created new ones such as mass communications. “AI is strategic because the scale, scope, complexity, and dynamism of business today are so extreme that humans can no longer manage it without artificial intelligence,” Chris Brahm, a senior advisory partner at Bain & Company, told TechTarget.

AI’s most significant impact on business in the near future stems from its ability to automate and augment jobs that are currently performed by humans.

Labor gains realized from using AI are expected to expand upon and surpass those made by current workplace automation tools. By analyzing vast volumes of data, AI won’t simply automate work tasks but will also generate the most efficient ways to complete tasks and adjust workflows on the fly as circumstances change.

AI is already augmenting human work in many fields, from assisting doctors in medical diagnoses to helping call center workers deal more effectively with customer queries and complaints. In security, AI is being used to automatically respond to cybersecurity threats and prioritize those that require human attention.

The advent of generative AI dramatically expands the types of jobs AI can automate and augment. Businesses and consumers have quickly adopted this new technology, using apps such as ChatGPT, Bard, and Copilot to conduct searches, create art, compose essays, write code, and engage in conversation. Indeed, AI’s potential to eliminate many jobs currently done by humans is a major concern for workers.

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