How to prepare for AI in the digital age

Artificial intelligence (AI) has recently emerged as one of the strongest driving forces behind transformation and innovation. It should be no surprise, then, that AI adoption is growing steadily.

In 2022, IBM reports that 35% of companies use AI, with an additional 42% of companies exploring AI.¹ With the availability of open-sourced AI models and consumer-friendly generative AI products, more businesses and individuals will inevitably adopt the technology in their day-to-day workflows.

One major driver of adoption is the fact that AI-powered automation brings never-before-seen efficiency gains. According to consultancy firm Accenture, companies that have scaled up AI adoption beyond the pilot or proof-of-concept stage see 3X the return on their AI investments.²

But many organisations have not yet reached that stage. They are grappling with challenges and risks that prevent them from embracing this new technology.

While many AI tools like Microsoft 365 Copilot are intuitive, the average person still may not have a good grasp of the underlying tech. In fact, the global AI market is actually being slowed down by the need to educate and train people on using the technology properly.³

The lag in AI adoption is apparent. Even as companies have begun adopting AI in one-off applications, like chatbots and virtual assistants, up to 76% of executives continue to struggle with scaling AI adoption across their organisations.² Investing in your people by building AI skills – such as advanced programming and mathematics; understanding natural language processing, deep learning, and neural networks; and big data technology know-how – will help ensure success in your AI adoption across the organisation.

There is another layer to educating your employees about AI: addressing their fears that machines will take their jobs. Address these concerns by emphasising the new jobs AI can create, even while making other roles unnecessary or even obsolete. Help your employees see AI as an enabler rather than a threat. In 2020, for instance, AI created 2.3 million new jobs after eliminating 1.8 million jobs globally — that’s a net gain of 500 thousand jobs.³ The World Economic Forum estimates that 97 million jobs will be created by Industry 4.0, which includes the AI revolution.⁴

Prominent individuals have raised the alarm on the risk of human extinction due to AI, but for businesses, the more immediate and pressing concern is around data security. The rise of easy-to-use generative AI solutions like ChatGPT, Bing Search, and Google Bard has led many knowledge workers to adopt the technology in the office. Unfortunately, not understanding how these AI solutions use the data being fed into them may lead to unintended consequences, like data leaks.

Such fears are justified. If you want to use AI, mitigate security risks by having experts weigh in on your organisation’s data infrastructure to improve data security.¹ Telecoms and connectivity companies such as Singtel can help you assess your organisation’s readiness to adopt AI products, particularly if these companies were involved in setting up your IT infrastructure. We evaluate your cybersecurity risks and enhance security not just around your AI applications, but for your organisation as a whole. Here’s a look at how we help protect data security in three steps.

Cost reduction and process automation are the two things that drive AI adoption in most markets globally.¹ This reflects a more reactive than proactive approach. To make the most out of AI, though, you’ll need to take a more strategic approach in deciding where, when, and how to deploy AI solutions. Collaborate with key stakeholders across your company to identify opportunities for introducing AI across your operations.

Such strategic thinking can define the success of your AI business transformation. Case in point: a PwC survey of 1,000 AI leaders revealed that organisations with a holistic strategy are 36% likely to report widespread AI implementation.⁷ These companies have orchestrated AI implementation in three areas simultaneously: business transformation, enhanced decision-making, and modernised systems and processes. In contrast, only 20% of companies that adopt AI in a piecemeal manner — completing one goal then moving to the next — report widespread usage.

With all the benefits it brings in efficiency and accuracy, AI can help grow the global economy by around $15.7 trillion by 2030.⁵ Yet only 10% of companies that have adopted AI obtain significant financial benefits from the technology.⁶ To be part of the top percentile, you need to have a robust AI strategy — informed by a trusted advisor like your IT infrastructure and connectivity provider.

Finally, successful AI adoption requires having the right technology that supports your business objectives. AI deals with lots of data transfers and cloud computing, which means your connectivity should have low latency and high reliability, such as a 5G network.

Embracing AI requires a careful balance between understanding its benefits and mitigating potential risks. Unlock AI’s transformative potential by upskilling your workforce and creating a holistic AI strategy. Seek guidance from experts, such as Singtel’s own network of consultants across AI, 5G, IoT, cybersecurity, cloud, data, and connectivity.