A colleague asked me what I thought AI and specifically Microsoft's co-pilot will change business. Here are my top of mind thoughts. Please comment and add your own.
Microsoft is moving super fast to incorporate AI into all of its business applications. AI will create new opportunities and obviate others. To prepare for the new AI world we need to educate ourselves on AI as it is applied to business. Some of the opportunities to improve business operations, and potential disruptions I see are outlined below.
1. Data & Applications
Data integrity will become even more important than it is today
Improved integration of applications as AI will create intelligence out of information based on technology and data wherever it resides
Increased importance of APIs and interfaces
2. I can see AI templates being created for many business functions such as
Reports (Scorecards, dashboards, etc.) - See exactly what you want to see in real time, as well as flag issues automatically, and develop projected solutions
Automated process mapping and suggested improvements
Automated actions - based on certain data actions will automatically be taken for things like accounts receivable, payables, inventory ordering, etc.
Automated business cases and justifications
Improved research on markets, competitors, partnerships, etc. that will inform strategy
Improved prioritization of investments
Improved data security
Improved customer relationship management
Improved budgeting and tracking
Improved marketing spending, tracking, testing
3. Improved personal productivity including:
Simplifying and automating communications
Speed of development and improved quality of presentations, financials, documents
Improved decision-making with better data
4. What AI will disrupt and cause the need to rethink:
People & Organizations - Leadership, organization, teams will need to be rethought as many processes will be automated
Product Development - as code will be created quickly and easily with AI