AI: The New Pressure Point for Businesses

Let’s talk about AI—everyone is.

We’re constantly surrounded by articles and surveys with convincing stats like “77% of businesses are using AI today,” and it raises questions and concerns for our own business. The pressure is coming from all sides: Are we already behind? Did we miss the opportunity? Should we launch an AI initiative and make it a top priority? But where do we even begin? Everywhere we look everything is telling us that AI is essential to stay competitive. There are many ready-made AI solutions available, and we may be tempted to follow what others are doing—yet we still expect to stand out. We’re aiming for efficiency, but often lack clarity on how to achieve or measure it.

Does this feel familiar?

The Hype vs. Reality of AI Adoption

The truth is that AI adoption isn’t straightforward. Making it relevant to your context, your services, your products, your operations, and your brand takes effort. According to a State Department of Commerce, only 5% of businesses in the U.S. are truly utilizing AI as of June 2024. That should not be surprising. What we hear and read about AI is mostly hype. The technology is involved. Its scalability is complex. And its legaland ethical implications are unsolved.

Data: The Key to Meaningful AI

Data matters, and it matters a lot. Off-the-shelf AI applications tap into public data, which everyone can access. Most people ask similar questions, and as a result, we all start to sound alike. The difference lies in using our private data, whether it’s contracts, memos, policies, or analytics. But be cautious: feeding this data to public applications could compromise its privacy

Efficiency vs. Effectiveness: AI’s Real Potential

The immediate expectation from AI is efficiency—getting things done faster and with less effort. But there’s a physical limit to efficiency gains. At some point, AI may have to replace people to achieve further efficiency, but that’s a narrow focus. AI’s true value lies in enhancing the quality of work and improving accuracy. With 15% medical misdiagnosis and 30% of unnecessary operations, I want AI to help us be better at that. With up to 15% wrongful criminal convictions, I want AI to help with that too. Even on the commercial business side, I want AI to help reduce product defects and ensure customer safety before helping me sell more

Purpose–Driven AI: The Key to Long–Term Success

Let’s do AI right, not fast.

Originally published in EXP. Magazine