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Many companies are already using or aiming to use artificial intelligence AI. Authors Paul R. Daugherty and H. James Wilson of Accenture as systems that extend human capability by sensing, comprehending, acting, and learning define AI.
There is an extensive delusion that AI systems will gradually replace humans in one industry after another. However, the authors research indicates that although AI can be used to automate certain functions, the technology s greater power is in complementing and augmenting human capabilities.
Rather than replace the need for humans, AI will perform the tedious grunt work, collecting data and doing the initial analysis, and so freeing human being to do work only they can.
A brief summary of the evolution of businesses is necessary to position the authors insights.
The first wave of business revolution involved standardized processes. Henry Ford s extraordinary contribution was to deconstruct the manufacture of automobiles so that they could be made on an assembly lines powered by men. With each step made quantifiable, the assembly line could be elevated and standardized, with huge efficiency gains.
The third wave rests on the previous two waves, but is a completely new way of doing business. This combination will adapt to the behaviors, preferences and needs of workers at a given moment. It will be powered by real time data rather than by a pre organized sequence of steps.