Perception and action are both crucial when it comes to business automation and AI. It’s important to understand the impact and potential of these technologies. One important aspect to consider is human-assisted technology, which combines the strengths of both human intelligence and AI. This allows for more accurate and efficient decision-making, as well as improved productivity.
AI In The Coming Years: Statistics You Should Know
- The global AI market is projected to reach $309.6 billion by 2026, growing at a CAGR of 39.7% from 2021 to 2026. (Source: MarketsandMarkets)
- In 2024, the global economic contribution of AI is projected to reach $13 trillion. (Source: Statista)
- By 2024, the global AI workforce is projected to reach 390 million, an increase from 300 million in 2021. (Source: Gartner)
- In 2024, the spending on AI systems in the Asia-Pacific region is projected to reach $21.4 billion, surpassing North America’s spending of $19.9 billion. (Source: IDC)
- As of 2021, the top three industries that have adopted AI are technology, finance, and healthcare. (Source: McKinsey)
The global AI market is expected to reach $267 billion by the end of 2023, proving that AI adoption in businesses is rising rapidly. In fact, 72% of companies report that they have already utilized AI in some form. This trend is expected to continue as more businesses recognize the benefits of implementing AI, such as improved customer experience, increased efficiency, and better decision-making.
With that being said, while AI is coming and we will have access to better technology than ever before, it is critical that you do not treat it as a replacement for human expertise. The classic AI story is that technology will be able to do certain tasks better than humans. This is correct, but it is not the end of the story. Understanding how to combine technology and human intelligence is the model to follow for all technologists moving forward.
What Does Technology and AI Do Better?
The primary area in which technology excels is in matters of scale. We live in a big data era, with 1.7 megabytes created per person every second. No matter how skilled a person is, he or she will not have the time or bandwidth to manage all of these different areas. This is where automation is becoming increasingly important. Assume a market research firm was compiling data for a retail company to help them evaluate their fiscal quarter. If only one person examines their data, they simply do not have the capacity to analyze it.
Another important factor to consider is the ability to reduce tedium. This isn’t something that technology does better, but it is an important way that technology helps people perform better. The more basic tasks you can automate, the more time your team will have to focus on higher-level tasks. This is something that all executives must be aware of. Prioritizing tasks that are well-suited for technology will increase the efficiency of your entire team. The catch, though, is that you need to also know what tasks need a human touch or guiding hand.
What Humans Are Better At
Where do humans outperform AI? One of the most important factors to consider here is human intelligence’s ability to add context and emotion. Let us return to the market research example. If a company had low profits this quarter, AI can help the company understand where and how profits dropped. However, the human element is still required to determine some of the external reasons why the audience may be buying less. Is it a trending issue, marketing issue, or other problem? Humans will also excel at cross-functional reasoning, as collaboration across different teams will always require that human touch.
Taking Advantage of the Best of Both Worlds
After years of dipping our toes in both worlds, we understand that the future of business is only possible with human-assisted technology. It should ideally be a combination of processes, tools, and software. However, for many small to medium-sized businesses, this is a challenge. In these organizations, the CEO has a vision that they want to put into action. Their staff must manage all of these different areas while working with a smaller budget than their larger company counterpart. The key is to find a remote way to bring on expertise to manage your technology, which is where Proxxy comes in.
At Proxxy, you can see human-assisted technology in action. We enable you to hire top talent at a low cost, but your chief of staff can and will facilitate the automation and technologies that will propel your company forward. Without humans, you can waste too much time and capital deploying technology in the wrong way. Fill out the following survey if you want to be your own remote chief of staff. This will assist us in determining exactly what your company requires in terms of this support, allowing us to match you with the best remote professional.