It was a real honour to be asked to do a remote talk with the new student intake at my old University .... The University of Hull. They asked me to be interviewed about #ai and the #futureofwork. For the new students and people just joining higher #education and soon the #workforce too. These young people are literally the future of work.
To be entering the #workforce on the eve of #fifthindustrialrevolution ...What an exciting time for them...What #future jobs will they have? What work will they find. What skills do they need?
We discussed this... and much more. Here’s the full interview - thanks to the team at the HUBS. For Peter for the questions, for Fannie for organisation and Jill for the invitation. Apols that I was originally an hour early than planned due to the time difference with my AI training work in Sweden.
The great questions from both Peter and the audience of more than 170 new students got me thinking. Especially after the great AI roundup from student Massie. Which is how the original event started. On the note...
"How is artificial intelligence changing the way businesses operate and market themselves?”
If you've been curious about this question, you're not alone. Today, the business world is buzzing with excitement about AI's revolutionary impact. In this blog post, we'll dig into how AI is transforming business practices and marketing strategies. From speeding up processes to boosting creativity, AI is making waves across all sectors.
So, let's explore real-world examples and insights from experts to understand how AI is reshaping the future of businesses worldwide. Dive in, and let's uncover the fascinating role of AI in modern enterprises.,
The Transformational Power of AI in Marketing and Business
Artificial Intelligence (AI) is reshaping the landscape of marketing and business like never before. From improving customer experiences to streamlining operations, AI's impact is profound and far-reaching. My chat hosted by Hull University Business School, highlighted several real-world applications of AI in various sectors.
For instance, Massie (a student on a graduate internship) showed us how companies such as Lloyds Banking Group and Amazon are leveraging AI for efficiency and innovation. Lloyds Banking Group's collaboration with ClayEye.ai enables trade finance documentation processing to be reduced from 15 days to just 24 hours. This is achieved through sophisticated technologies like optical character recognition and natural language processing.
On the other hand, Amazon's use of AI spans from improving product listings to reducing packaging waste, showcasing how AI can enhance both customer satisfaction and operational efficiency.
Embracing AI for Competitive Advantage
As I emphasized, businesses must embrace AI to maintain their competitive edge. AI technologies provide critical insights that can drive strategic decision-making and foster innovation. For example, Amazon’s use of machine learning to optimize packaging decisions based on product attributes and customer feedback demonstrates AI’s capacity to solve complex logistical problems while contributing to sustainability.
Moreover, the potential of AI extends to enhancing customer interactions. Voice assistants like Amazon's Alexa use large language models to facilitate more realistic and contextually aware conversations, significantly improving user experience. These advancements underscore the importance of businesses being agile and open to adopting AI-driven solutions to stay relevant in a rapidly changing market landscape.
In summary, AI is not just a technological upgrade but a fundamental shift in how businesses operate and engage with their customers. By harnessing the power of AI, companies can achieve greater efficiency, innovation, and customer satisfaction, paving the way for a more dynamic and competitive future. As future business leaders, understanding and leveraging AI will be essential tools in your arsenal.
AI and Sustainability: Transforming Industries
AI is making leaps in various industries, and one of its most significant impacts is on sustainability. For example, companies are now using AI to improve packaging efficiency. AI algorithms analyze customer feedback about different packaging options in terms of shape and durability. This allows companies to select the most efficient packaging, reducing waste and increasing customer satisfaction. Since 2015, these packaging-saving schemes have eliminated over 2 million tonnes of packaging material worldwide, a staggering achievement in sustainability.
Additionally, AI is revolutionizing how we calculate carbon footprints. An AI algorithm named Flamingo has been designed to significantly cut down the time and human labor needed to compute carbon emissions. This tool is also available for other companies, accelerating their sustainability goals. Another interesting use of AI in sustainability is by Amazon Fresh. They employ an automated shelf monitoring system that analyzes images of crates of food to detect visual imperfections. Usable products that don’t meet their retail standards are sold to local contractors as livestock feed at a reduced price, thereby reducing food waste. These examples show that AI not only improves operational efficiency but also promotes a more sustainable future.
Adapting to the Future of Work: Navigating AI and Job Security
I was very lucky in my life as I started my journey many years ago at Hull University. Back then, I chose to study law, sociology, and later psychology. This eclectic mix was not the norm, but it paved the way for my later endeavours in technology and marketing. It’s funny to recall how we did things manually, even before Google became the go-to search engine. My first business, The Hemp Trading Company, was born out of an ecological group I founded at university. We worked hard to promote hemp's 25,000 uses. This venture led me to marketing, and eventually, to digital marketing.
Over the years, I've ventured into numerous tech and marketing businesses. Among them was an augmented reality company, which was way ahead of its time. Today, I am recognized as a tech futurist, but it was a journey of being an early adopter of technology. I often muse that I would rather be a billionaire philanthropist, but here we are.
This background provided me with unique insights into AI, especially as I've engaged with it long before it became a household term. Which is how I launched the AI Marketing Course and then later on the AI Teacher Course too with Janine Atkin.
AI: Deconstructing the Hype
AI is everywhere now, from smart toothbrushes to pillows (as Peter our host so cleverly points out) But what does AI really mean? At its core, AI consists of very clever computers that mimic human thinking. However, this isn't a recent phenomenon. AI has been evolving for decades, originally in gaming sectors. Companies like NVIDIA started using graphics processing, which laid the groundwork for today's AI advancements.
Many believe AI is a new concept, but it's far from it. AI beat humans at chess decades ago, and gaming has utilized AI for years. The surge in AI's popularity can largely be attributed to OpenAI’s tactics, like releasing ChatGPT for free, which opened the public's eyes to its capabilities. The feedback loop from these users accelerated AI's development. Despite the hype, AI is essentially an advanced form of digital transformation, something various industries have been integrating for years. The buzzwords may change, but the fundamental technology has been around for a while.
AI: Redefining Career Evolution
Artificial intelligence isn't a new concept. It has roots in gaming and has evolved tremendously through the years. People like Demis Hassabis, who once headed DeepMind before selling it to Google, have been pioneering in this field.He still heads up Google;s most impressive work in the realms and science and healthtech.
AI started with simple things like beating humans at chess and advanced to programs like AlphaGo. But what truly kicked AI into mainstream consciousness was Sam Altman’s decision to make ChatGPT available to everyone for free. This allowed the general public to interact with AI, fueling its development and market presence
This democratization of AI is reshaping career paths. Students graduating today may find 30% of their job tasks automated, but this doesn't spell the end of career opportunities. Instead, it signifies a paradigm shift. Just like tractors revolutionized agriculture, AI is set to overhaul our work methodologies. Jobs unheard of now will become mainstream in the near future. We are on the brink of the Fifth Industrial Revolution, and students who embrace AI tools early are positioning themselves at the forefront of this transformation.
The Reality of AI Job Replacement & Productivity
Concerns about AI taking over jobs are valid but can be mitigated with the right mindset. Historical anxieties about new technology, whether it’s the internet or calculators, have always proven to be alarmist. The fear isn’t without merit, but it’s often misplaced. AI won’t replace jobs; instead, it will transform them. If you aren’t utilizing AI in your work, someone else will, putting them at a competitive advantage.
AI is a tool for immense productivity gains. It can make sectors like marketing 400% more efficient. However, this requires learning to manage AI correctly, known as prompt engineering. So, while AI might automate some tasks, it amplifies human capability in ways we’ve never seen before. The challenge lies in embracing AI, learning to work with it, and using it to add value to your role, making yourself indispensable in the process., don't know how to use it, then you might not become the best in your field.
Take the time to master these tools. It’s not about replacing your skills, but enhancing them. AI can make you more efficient. It can open doors to new opportunities. Embrace it and stay ahead. If you would like you can learn more at the AI Marketing Course…
Or if you work in education at a university or college or school - then it's the AI Teacher Course.
FAQ
What is AI's role in future jobs?
AI is reshaping career paths by automating tasks and creating new job categories. It enhances productivity and opens new opportunities.
Will AI replace human jobs?
AI will change job roles but won't completely replace humans. People who use AI effectively will have an edge over those who don't.
How can I prepare for an AI-driven job market?
Learn AI tools and applications. Enroll in courses that teach AI technologies and their
practical usage.
Will AI make people lazy?
No, if used correctly. AI can boost productivity and creativity. Learn to use it effectively to enhance your skills.
Can AI improve my career in the knowledge sector?
Yes, AI can significantly boost productivity and performance. It aids in research, data analysis, and creative tasks.
My AI’s Conclusion
The future is bright for those who embrace AI. It’s a powerful tool that, when used correctly, can enhance your career and open up new opportunities. Don't fear AI; learn it, master it, and use it to your advantage. The future of work is here, and it’s powered by AI.
Stay adaptive and keep learning. Your best career move is to stay ahead of the AI curve.
Futher reading and listening: