Technology moves at such a pace it can sometimes be hard to keep up. With the latest advances in AI and a lot of publicity about ChatGPT in particular, we’re keen to learn more about the tech. We look into AI’s potential to make business life easier for us all (and what to watch out for!).
The use of technology has long been talked about as a way to save time and money, with smart investment in IT bringing higher levels of productivity. At Villa we’re all about making business processes more streamlined and working smarter, it’s why we invest so heavily in learning about new software and technologies. AI is a different beast to your average accounting software, but it still has the potential to influence the effectiveness and efficiency of the tech we work with on a daily basis.
As the world grapples with keeping up with AI including how to regulate it, we’re seeing more and more apps and software making the most of AI and building it into their platforms. The technology excels at performing repetitive tasks such as calculations, documenting information, and activities like checking data for accuracy. All of which help to make us more productive.
The flipside to positive impacts on our business efficiency is that, with little regulation and a lot of publicity, there’s questions being raised about ethics and copyright across many industries. How do we embrace AI to make things better and easier without putting at risk some of the things we love about human interaction in business?
ChatGPT is the AI most commonly discussed in the media right now. It has taken all the information on the internet, categorised and ‘learnt’ it to allow it to spit out a well written letter, email or article in a matter of seconds. What it currently lacks is human emotion and tone of voice – it’s really lacking in the personality department! AI learns from experience, so tools like ChatGPT will become more and more usable as they learn more.
For our business, we look forward to seeing where AI takes our process and repetitive tasks, as well as how AI influences the development of business software. In addition, as people who love an efficient process, we’re interested to see how AI influences work flows and helps businesses save time and money through improved efficiency. We really are on the cusp of seeing some amazing positive changes across all areas of business, from financial reporting to system improvements. Of course, there are ‘watch-outs’ including who owns IP, copyright issues and labour displacement.
Like other revolutionary technology advancements, AI will likely work best when paired with human intelligence. Humans use emotions and computers use facts, sometimes we need both to paint a full picture of what’s going on or to make decisions for the future.
While we may not have all the answers when it comes to business and AI (because nobody does!) we have experts here at Villa who love technology and the efficiency gained through using software in a smart way. Get in touch if you’re interested in improving how your business runs on a daily basis using technology.