The real risks and benefits of using AI for your enterprise

Key takeaways

• AI can help businesses 1) raise efficiency and accuracy, 2) gain deeper insights and make better decisions, 3) offer a personalised customer experience, 4) optimise their other tech investments, and 5) strengthen cybersecurity.

• But experts fear AI’s “profound risks to society and humanity,” and businesses may face legal, regulatory, operational, and security-related issues.

• To mitigate these risks and make sure things go smoothly, organisations must 1) create a strong AI strategy, 2) practice change management, 3) understand the tech’s limits and strengths, 4) have a robust IT ecosystem, 5) take AI’s maintenance needs and costs seriously, and 6) stay up to date on regulations.

The state of AI today

How enterprise AI can help your business stay ahead

Enterprise AI, or the use of AI in business to promote digital transformation, is a growing global market, valued at USD 11.1 billion in 2021 and expected to reach USD 64.5 billion by 2028.

AI for business can give you a competitive edge by:

Artificial intelligence, real risks

A study by researchers from OpenAI estimates that “around 80% of the US workforce could have at least 10% of their work tasks affected by the introduction of [large language models], while approximately 19% of workers may see at least 50% of their tasks impacted.”

The pitfalls of using AI for business

How to mitigate the risks and stay on top of AI deployment

Let your business strategy inform your AI strategy, not the other way around. This way, your move towards AI will stem from real business goals, not just an urge to have the latest tools.

Making AI work for you