Part of the content for this blog comes from my recent TedX talk: Building an AI-Grounded Company that was held in Perth, Western Australia November 2024.
Introduction
As AI continues to make waves across industries, there’s a burning question for business leaders: is this the right time to start using AI? The answer is a resounding yes, in fact, there’s no better time to begin integrating AI into your business strategy. Here’s why early adoption of AI is not only feasible but also essential for staying competitive and innovative.
1. AI Innovation Is Just Getting Started 🚀
AI is at the forefront of technological advancement, yet we’re still in the early stages of its evolution. According to Gartner’s AI hype cycle, we have years of new breakthroughs ahead that will expand what AI can do for industries. While the AI landscape has made incredible strides in recent years, the most significant transformations are still to come. By adopting AI now, businesses can position themselves to take advantage of each new innovation, staying relevant and adaptable as the technology continues to mature.
Figure 1: Gartner's 2024 AI Hype Cycle
2. A Rapid Growth in AI Research and Publications 📚
In recent years, the volume of AI research has exploded, with publications tripling from 2010 to 2022, and this growth showing no signs of slowing down. This surge in research is more than just numbers; it represents a wealth of ideas and tools that can be directly applied to real-world problems across industries. Businesses that engage with this growing body of AI knowledge will have a competitive advantage, leveraging new developments to solve industry-specific challenges, drive efficiency, and deliver value to customers.
Figure 2: Number of AI publications by field of study
3. Big Tech is Building Generalized Tools for Easy Use 🔧
The beauty of today’s AI landscape is that you don’t need to reinvent the wheel. Major tech players like OpenAI, Google, and Meta are developing powerful, generalized AI models designed for broader use. These accessible models mean that businesses can quickly deploy robust AI solutions without building complex models from scratch.
With the right tools at your disposal your team can learn to automate their own workflows and take advantage of the latest in AI technology without any coding ability.
The Bottom Line
AI is still evolving, but the timing has never been better to start integrating it into your business. By acting now, you’ll ride the wave of incoming innovation, tap into a vast and growing pool of research, and leverage powerful tools from industry leaders, all while positioning your business as a forward-thinking, resilient force in a rapidly changing world.
So, are you ready to get started? Embrace AI now and see how it can transform your business!