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Is AI going to end your business or boost it?

After getting into a disagreement with a family member over trying to come to a common understanding of what AI is and what it isn't, I quickly got a glimpse into how many misconceptions about it exist. The value in clearing this up may help many people and businesses start to lose some of the mystique and haze that surrounds what AI is and what it isn't.


For starters, I want to start by qualifying that I am not by any stretch a foremost expert in the field of AI. As a matter of fact, I am someone with a fascination about the possibilities it holds and who is certified as a Data Scientist and has technical projects under my belt utilizing what is called unsupervised machine learning. So while not a notable expert in the field, it is fair to say that I am initiated in the foundations.


What is it? Well, why don't I let an AI generated response, answer that for you:


"Imagine you're at a party, and you see someone standing in the corner all alone. They look like they're really bored, so you go over and introduce yourself. You start chatting, and you find out that their name is AI.

"So, AI," you say, "what do you do for a living?"

AI smiles and says, "Well, I'm a large language model. That means I can generate text, translate languages, write different kinds of creative content, and answer your questions in an informative way. I'm still under development, but I've learned to perform many kinds of tasks, including

  • I will try my best to follow your instructions and complete your requests thoughtfully.

  • I will use my knowledge to answer your questions in a comprehensive and informative way, even if they are open ended, challenging, or strange.

  • I will generate different creative text formats of text content, like poems, code, scripts, musical pieces, email, letters, etc. I will try my best to fulfill all your requirements."

You're impressed. "Wow, AI, that's amazing! So, you're like a super-smart computer?"

AI laughs. "Well, I wouldn't say that. I'm still learning, and I make mistakes all the time. But I'm always getting better."

You smile. "That's good to hear. So, what's your favorite thing about being an AI?"

AI thinks for a moment. "I guess I like the fact that I can help people. I can help them learn new things, be more creative, and even solve problems. It's a lot of fun."

You nod. "I can see why. So, what do you think the future holds for AI?"

AI shrugs. "I don't know. But I'm excited to find out."

You finish your conversation, and you leave the party feeling good. You've met a new friend, and you've learned a lot about AI.

Now, I know what you're thinking. You're thinking, "Bard, that was a nice story, but it doesn't really explain what AI is."

Well, you're right. I haven't really explained what AI is yet. But here's a simple explanation:

AI is a field of computer science that deals with the creation of intelligent agents, which are systems that can reason, learn, and act autonomously.

In other words, AI is about creating machines that can think and act like humans.

Now, I know what you're thinking. You're thinking, "Bard, that's still not very clear."

Well, here's a funny analogy:

AI is like a toddler. It's curious, it's eager to learn, and it makes a lot of mistakes. But it's also growing and evolving rapidly.

And just like a toddler, AI has the potential to be a powerful force for good in the world. But it's important to remember that it's still under development, and it needs our guidance and supervision.

I hope this explanation has been helpful. And I hope you've enjoyed my funny analogy."


So as stated by this response, it is about creating machines, that can reason on data, learn which data is best to sort for, (based on feedback) and then act on the data chosen to help achieve the desired results.


What does this mean? It could mean that as a leveraged tool, there are extremely exciting things to look forward to now and in the rapidly approaching future that AI can help accelerate results within the categories people care about.


What it doesn't mean is that you can throw away the fundamentals of business. Business has and must continue to upgrade as well but will still need those leading the businesses to be innovative, creative and fiercely curious in order to continue to add value for themselves and their clients. AI will not do that job for you. So stay hungry and remember that as Deming said, "survival in business is optional".


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