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October 15, 2024 12 mins

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In our latest episode, we unpack the transformative impact of tools like ChatGPT and Microsoft Copilot, which promise to reclaim valuable hours and boost team efficiency without threatening job security. We reveal insights from AI4SP's latest report, highlighting the significant skills gap that could leave many behind in this AI revolution. Like the internet boom of the 90s, those who seize the opportunity to enhance their team's AI proficiency are set to lead this new technological wave.

 In this episode, we discuss the substantial return on investment from effectively utilizing AI tools and how entire departments can be overhauled to become more efficient and collaborative. Focusing on closing the proficiency gap, we underline how investing in employee training can position companies for substantial competitive advantages in a rapidly evolving landscape.

Source Article: https://ai4sp.org/ai-in-60-seconds-oct-2-2024-ai-productivity-ripples

🎙️ All our past episodes 📊 All published insights | This podcast features AI-generated voices. All content is proprietary to AI4SP, based on over 250 million data points collected from 25 countries.

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Episode Transcript

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Elizabeth (00:00):
So today we're cutting through the noise to
answer a critical question Okay,can these AI tools actually
save you time and money?

Winston (00:09):
And maybe even more importantly, are there hidden
costs or challenges nobody'stalking about?

Elizabeth (00:14):
That's exactly what we're going to find out.
We're diving into thereal-world impact of AI tools
using exclusive data fromAI4SP's latest report on the
adoption and ROI of generativeAI.

Winston (00:25):
Just to clarify for our listeners we're talking about
AI that actually creates thingsText, images, even music Not
just analyzing data we alreadyhave.

Elizabeth (00:34):
Right Generative AI Not just analyzing, but actually
creating.

Winston (00:37):
Exactly, and AI4SP's research reveals a fascinating
trend.
Using data from their globaltracker, over half of us are
already incorporating AI intoour daily routines.

Elizabeth (00:47):
Really yeah.

Winston (00:48):
Think personal assistance, smart search.
It's becoming as commonplace asusing a computer.

Elizabeth (00:53):
It's true I use those features all the time without
even thinking about it, but isthis widespread adoption
translating to actual resultsfor companies?

Winston (01:02):
That's the million-dollar question.
What's fascinating here is thecontrast AI4SP discovered While
54% of companies have dippedtheir toes into the AI pool,
only 15% have fully embraced itspotential.

Elizabeth (01:16):
So kind of like the early days of the internet a lot
of buzz, but not everyoneunderstood how to use it
effectively.
Are we headed for a similarscenario with AI?

Winston (01:25):
It's a great analogy and experts seem to think we're
on the cusp of a dramatic shift.
Ai 4SP predicts that a whopping80% of companies will have
adopted AI by 2025.
However, simply using AI andusing it effectively are two
different things entirely.

Elizabeth (01:41):
Okay, let's unpack that.
What does using AI effectivelyactually look like, and what
kind of return on investment arewe talking about here?

Winston (01:47):
The AI4SP report highlights some compelling
examples like Chad GPT andMicrosoft Copilot.
Imagine getting back 10 hours amonth just by incorporating a
single AI tool that costs $29monthly.
That's time you could be usingfor strategic thinking, creative
brainstorming or, dare I say,even a little break now and then
.

Elizabeth (02:04):
Ten hours back in your month, sign me up.
But I'm curious, does it stopthere?
Can you just keep stacking AItools to save even more time?

Winston (02:13):
You're absolutely on the right track.

Elizabeth (02:14):
Okay.

Winston (02:15):
AI4SP's research indicates that strategically
using multiple AI tools aroundthree to four could claw back a
staggering 30 to 40 hours permonth for less than $120.
We're starting to talk seriousproductivity gains.

Elizabeth (02:30):
Those numbers are incredible, but let's shift
gears for a moment.
We focused on individual gains,but what about entire teams or
departments?
Can AI deliver that same levelof impact on a larger scale?

Winston (02:41):
Absolutely.
Mckinsey and Gartner haveconducted research suggesting
that departments, particularlyin finance and product
development, stand to benefitenormously from AI integration.
Faster project completion, ashorter time to market these are
the tangible outcomes that getCEOs excited.

Elizabeth (02:57):
So we're not talking about AI replacing entire teams,
but rather making those teamsexponentially more efficient and
productive.
It's less about job eliminationand more about changing how we
work.

Winston (03:07):
Exactly, and what's particularly interesting is how
AI is streamlining collaboration.
Suddenly, teams can seamlesslyshare information, automate
tasks and collaborate onprojects without the usual
bottlenecks.

Elizabeth (03:21):
So AI isn't just a solo productivity booster.
It's changing the dynamics ofhow we work together.
It almost reminds me of whenemail first became commonplace
in the workplace.
Remember how much back andforth it took to get everyone on
board.

Winston (03:34):
That's a brilliant comparison and, just like with
email, there's a learning curvewith AI.
Companies that figure out howto use these tools effectively
and, perhaps more importantly,train their employees to do the
same, will undoubtedly have acompetitive edge.

Elizabeth (03:47):
That brings us to a crucial point the skills gap.
How do we go from simply usingAI to truly mastering it?
Because it sounds like that'swhere the real game-changing ROI
lives.

Winston (03:58):
You've hit the nail on the head.
Here's the sobering reality.
Ai4sp's data reveals that astaggering 80% of workers aren't
proficient in using generativeAI.

Elizabeth (04:07):
Wow, 80%, that's a significant number.

Winston (04:10):
It is.

Elizabeth (04:10):
So, even with these incredible tools at our
fingertips, most of us aren'tequipped to unlock their full
potential.

Winston (04:18):
And this isn't just about individual performance.
It represents a substantialhurdle for companies hoping to
leverage AI for growth andinnovation.
Imagine the possibilities if wecould close that skills gap.

Elizabeth (04:29):
So how do we bridge this gap?
What can companies do toempower their employees to
become fluent in the language ofAI?

Winston (04:35):
AI for SP's.
Research points to a criticalskill called prompt engineering.
Think of it as learning tospeak AI's language, crafting
the perfect instruction to getthe exact result you need.

Elizabeth (04:46):
So it's not just about knowing what you want AI
to do, but understanding how toask it in a way it understands.
That makes a lot of sense.

Winston (04:52):
Exactly, it's about precision and clarity in your
instructions, and the good newsis that it's a way it
understands that makes a lot ofsense.
Exactly, it's about precisionand clarity in your instructions
, and the good news is that it'sa learnable skill.
Ai4sp actually released a toolcalled Copilot Ada, specifically
designed to help people sharpentheir prompt engineering
abilities.

Elizabeth (05:06):
So AI is even helping us become better AI users.
That's pretty meta when youthink about it, but it
highlights a crucial point.
Simply throwing AI at a problemisn't enough.
We need the skills to match.

Winston (05:19):
Precisely it's an investment in your workforce.

Elizabeth (05:21):
Yeah.

Winston (05:22):
And the return on that investment.
Well, we've already seen thenumbers.

Elizabeth (05:25):
Right, we've talked about the potential time saving,
the increased productivity, butit feels like there's a bigger
picture here.
If 80 percent of workers aren'tproficient in using generative
AI, what happens to companiesthat lag behind in training?

Winston (05:37):
Just like in the 90s with the internet boom,
companies that embrace AI earlyand invest in their employees'
skills will likely be the oneswho reap the biggest rewards.

Elizabeth (05:47):
Yeah.

Winston (05:47):
Think of it as a competitive advantage that's
hard to ignore.

Elizabeth (05:50):
It makes you wonder how much potential is being left
on the table by companies thataren't prioritizing AI training.
It's like having a goldmine butnot bothering to provide your
miners with the right tools.

Winston (05:59):
A perfect analogy.
And this brings us to anotherfascinating insight from the
AI4SP report.
They found that a staggering80% of AI usage is concentrated
on just 20 key tasks.

Elizabeth (06:12):
Really so.
Out of all the amazing thingsAI can potentially do, most
companies and individuals areusing it for a relatively small
subset of tasks.

Winston (06:20):
That's right.
Content summarization,personalized outreach, data
analysis these are consistentlytopping the charts as the most
popular and impactful AIapplications.

Elizabeth (06:31):
It makes sense.
Those are tasks that eat up ahuge amount of time for most
knowledge workers.

Winston (06:35):
Right.

Elizabeth (06:36):
And I imagine that's where we see the most
significant productivity boosts,especially when people have the
AI skills to leverage thesetools effectively.

Winston (06:43):
You're spot on, and this is where the concept of the
AI super user comes into playAI for SP's.
Research identified certainroles, particularly in tech
forward industries that areexperiencing productivity gains
of two to ten times thanks to AI.

Elizabeth (06:57):
Two to ten times.
That's not just incrementalimprovement, that's a complete
transformation.

Winston (07:01):
Precisely these super users are on the leading edge,
figuring out how to push theboundaries of what's possible
with AI, and their successunderscores a crucial point it's
not just about if yourcompany's using AI, but how
effectively.

Elizabeth (07:17):
So it's not enough to just check the box and say,
yeah, we're using AI.
It's about building a cultureof AI literacy and empowering
employees to become super usersthemselves.

Winston (07:25):
Absolutely, and that requires a commitment to ongoing
training, experimentation and awillingness to embrace new ways
of working.

Elizabeth (07:33):
This has been incredibly insightful, but
before we wrap up, I want tomake sure we address the
potential downsides of AI.
The report briefly touched onsome concerns from CTOs.
What are some of the challengesthey're facing as they navigate
this new landscape?

Winston (07:47):
You're right to bring that up.
While the potential of AI isimmense, it's not without its
complexities.
Ctos are grappling with somesignificant questions around
data privacy, for instance.
With AI processing such vastamounts of data, ensuring
privacy and security isparamount.

Elizabeth (08:02):
That makes perfect sense.
Data is the lifeblood of AI, soprotecting that data and using
it responsibly is crucial.

Winston (08:08):
Exactly, and it's not just about keeping data safe.
It's about using it ethically,making sure that AI is developed
and deployed in a way thatbenefits everyone, not just a
select few.

Elizabeth (08:20):
So it's about more than just the technical aspects
of AI.
It's about the ethicalimplications as well making sure
that we're building a futurewhere AI is a force for good.

Winston (08:29):
Precisely, and that's something that needs to be
considered from the outset, notjust as an afterthought.
Precisely and that's somethingthat needs to be considered from
the outset, not just as anafterthought we need to be
asking ourselves tough questionsabout the potential impact of
AI on society and make sure thatwe're developing and using this
technology in a way that alignswith our values.

Elizabeth (08:44):
Those are important points to consider.
We can't just get swept up inthe excitement of AI without
also acknowledging the potentialrisks and challenges.

Winston (08:52):
You're absolutely right , it's a balancing act, but with
careful planning and opendialogue, I believe we can
harness the power of AI tocreate a more equitable and
prosperous future.

Elizabeth (09:01):
I completely agree.
So shifting gears a bit.
You mentioned that CTOs arealso grappling with the
challenge of standardizing AIprocesses.
What exactly does that entail?

Winston (09:12):
It's about creating a framework for how AI is used
within an organization a set ofbest practices and guidelines
that ensure consistency,efficiency and responsible use.
Efficiency and responsible use.

Elizabeth (09:23):
So it's kind of like establishing the rules of the
road for AI, making sure thateveryone is on the same page and
that we're using this powerfultechnology in a safe and ethical
manner.
It sounds like a massiveundertaking.

Winston (09:34):
It certainly can be, especially for large
organizations with complex dataecosystems, but it's an
essential step in ensuring thatAI is deployed responsibly and
effectively.

Elizabeth (09:44):
And it's not just about mitigating risks, is it?
It's also about maximizing thepositive impact that AI can have
.

Winston (09:50):
Absolutely.
When AI processes arestandardized, it makes it easier
to scale those processes acrossthe organization, which means
more people can benefit from thepower of AI.

Elizabeth (10:00):
It creates a foundation for growth and
innovation, making sure thateveryone is speaking the same
language and working towards thesame goals.
Before we wrap up, I want tocircle back to something you
mentioned earlier about thequalitative impact of AI.
It's easy to get caught up inthe numbers, the productivity
gains, the ROI, but, as youpoint out, there's more to the
story than just the bottom line.

Winston (10:20):
Absolutely.
While metrics like efficiencyand output are essential, they
don't capture the full pictureof how AI is transforming the
way we work.

Elizabeth (10:28):
Can you give us an example of what you mean?
How is AI impacting the humanside of work?

Winston (10:33):
Imagine a team of marketers who previously spent
hours each week on tedious taskslike data entry and email
segmentation.
With AI handling those tasks,those marketers are now free to
focus on more creative andstrategic work, like developing
innovative campaigns andbuilding deeper relationships
with customers.

Elizabeth (10:53):
So it's not just about working faster.
It's about working smarter andfocusing on higher value tasks.

Winston (10:59):
Exactly, and that shift can lead to increased job
satisfaction, improved moraleand even greater creativity and
innovation.

Elizabeth (11:08):
It's about empowering people to do their best work.

Winston (11:16):
Precisely.
And let's not forget the impacton the customer experience.
Ai can personalize interactions, anticipate needs and deliver
tailored solutions in ways thatwere previously unimaginable.

Elizabeth (11:24):
It's about creating a more human-centered experience,
even if AI is powering itbehind the scenes.

Winston (11:29):
Exactly.

Elizabeth (11:29):
This has been an incredibly enlightening
conversation, but sadly we'reout of time for today.

Winston (11:34):
It's been a pleasure joining you.

Elizabeth (11:36):
So, as we wrap up this deep dive into the world of
AI, what's the one key takeawayyou hope our listeners will
remember?

Winston (11:43):
Don't just focus on if your company is using AI, but
how effectively.
The real ROI comes from skilledusers who can maximize these
tools' capabilities.
That's where the truetransformation happens.

Elizabeth (11:55):
And on that inspiring note we'll wrap up this episode
of the Deep Dive.
Thanks for joining us.

Winston (11:59):
It's been a pleasure.

Elizabeth (12:00):
For those who want to delve deeper into the research
we discussed today, you can findthe full AI4SP report on their
website.
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