Generative AI is artificial intelligence that can create new text, video, or image content. It holds transformative power over many industries and, with the advent of ChatGPT, is becoming a constant companion in workflow organization, task management, and productivity enhancement. 

ChatGPT is a text-to-text AI chatbot that is the most advanced virtual assistant to date. It is incredibly adaptive to numerous business functions like customer service, content creation, marketing, and strategic planning. The pre-learned technology answers questions in real-time and adapts to different prompts. The business implications are massive, and companies integrate this technology into their day-to-day operations with fantastic results.

The Challenges of Adoption

Several challenges must be addressed before AI can fully benefit businesses: data management, talent shortages, and integration with legacy systems are at the top of the list. 

Dr. Arthur J. O’Connor is the academic director of the MS in Data Science and BS in Information Systems degree programs at the CUNY School of Professional Studies. He has over 20 years of experience as a senior corporate executive and IT management consultant and has discussed AI’s excellent potential for businesses.

Dr. O’Connor succinctly states, “My biggest fear is not artificial intelligence but natural greed and stupidity. The risk is that we separate knowledge from understanding, which allows creative and critical things to atrophy.” 

Dr. O’Connor believes the most significant risk in adopting artificial intelligence is focusing so much on the technology that users do not apply their critical thinking skills.

He compares this to what the calculator did for people’s arithmetic skills, what GPS did to navigational skills, and what spell check did to spelling skills. Cognitive offloading is the risk of separating knowledge from understanding and taking the path of least resistance when it comes to critical thinking skills. 

Opportunities for Productivity

Though Dr. O’Connor is quick to point out the risks of AI, he also notes the productivity opportunities. There are incredible opportunities for drug discoveries. The technology can analyze billions of permutations of different chemical combinations in minutes, which takes researchers decades to research. 

AI has enormous time and cost savings potential, primarily by automating repetitive tasks like RFP responses. By analyzing and summarizing key information from RFP responses, evaluators can quickly identify relevant details and discrepancies in the proposals, saving time and money.

Risks to Address

As with any new technology, artificial intelligence has many associated risks. Data security, cognitive offloading, and deepfakes are among the top concerns. To reach a desired industry goal, it is critical to accurately assess innovation with risk management. AI uses trained responses, which can lead to biased or discriminatory data, known as an echo chamber. To address this problem, AI should be taught objectively to provide accurate data. 

Deepfakes spread misinformation and can damage reputations. All information should be verified, and a company system should be implemented to flesh out false information so that the company is engaging in responsible and ethical practices. Businesses need to comply with emerging regulations regarding data privacy and accountable AI development. 

The Path Forward

AI technology has been in development since the mid-20th century. Each version builds on its predecessor and addresses the issues that arose with previous models. Ethical concerns are among the most significant issues addressed. This is a positive sign for the business community as the ethical safeguards promote responsible AI use. 

AI continues to evolve and adapt to various needs, making research and working environments more automated. This efficient system saves time and money, but the technology should be monitored to ensure it is not giving biased results based on pre-trained responses. The future undoubtedly holds regulatory compliance that ensures the ethical and responsible use of AI-generated content.