AI is set to be at least as big of a deal as the internet.
Everyone knows they need an AI strategy to navigate the opportunities and threats rushing towards us.
But how do you navigate the biggest change in your lifetime before it’s clear what’s happening?
So what’s changed?
Over the last six months, there's been a dramatic shift in what tasks only a human can accomplish.
Most people first woke up to the transformative potential of AI when OpenAI released ChatGPT (powered by GPT-3.5) in November, 2022.
Then there was a jump in capabilities faster than most could imagine with the release of GPT-4 in March, 2023.
Across 26 standardized tests such as AP Statistics and the LSAT, GPT-3.5 performed below the average human test taker with a median score in the 40th percentile.
Then months later, GPT-4 blew most humans out of the water with its median score above the 80th percentile according to a paper published by OpenAI researchers.
The impressive capabilities of more recently released chatbots including Google’s Bard, Anthropic’s Claude, as well as a variety of open source AI models makes it clear that these capabilities will be broadly available and priced competitively.
Who does this effect?
In their March 2023 paper, Open AI researchers estimated the percentage of work tasks that could be affected by GPT-4 level AIs through a mix of “labor-augmenting and labor-displacing effects” as illustrated in the table below.
Meanwhile, by the end of April 2023 tech companies had laid off more employees in 2023 than in all of 2022 according to TechCrunch. Many, including Meta, Google, and Dropbox specifically cited a stronger focus in AI along with economic conditions as motivators as reported by Business Insider.
No one who's paying attention wants to compete in the Age of AI without the ability to effectively leverage these powerful new tools.
Practically speaking, unlike 6 months ago, AI tools today can:
- Perform detailed online research on a person, product, company etc
- Research, draft, and send highly personalized messages across email, LinkedIn etc
- Develop a detailed strategy to position and sell your product to a specific company
- Research and draft due diligence analysis
- Draft answers to compliance questionnaires based on past examples, online research, publicly available information, and internal policy documents
- Handle customer support at a near human level after ingesting all of your website, support documentation, and internal process documentation
- Develop and implement a complex, multi-platform, multi-media marketing strategy
What do these new capabilities mean for your company and industry over the next 6-12 months?
What would the implications be for your business if your competition adopts these technologies and you don’t?
Staying competitive in the Age of AI
The top five tech companies (Alphabet, Amazon, Apple, Microsoft, and Facebook) have a head start in AI R&D and product development.
They increased their combined expenditure on R&D (with a strong focus on AI) from 16% of their total revenue in 2015 to 26% in 2022 according to a piece by The Economist.
How can organizations adapt in the Age of AI?
- Develop an AI strategy: Collaborate with leadership, engineering, and product teams to devise a strategic roadmap for incorporating new AI capabilities into your products and services.
- Adopt AI tools and platforms: Increase productivity and efficiency by integrating AI-driven tools across different operational areas.
- Partner with AI companies: Collaborate with established AI firms to gain quick access to advanced AI technologies and expertise.
- Invest in AI R&D: Establish dedicated AI labs or fund specific AI projects to drive innovation from within your organization.
- Make strategic acquisitions: Acquire startups or companies with strong AI capabilities to quickly boost your organization's AI technology and talent pool.
- Align on AI Ethics and Governance: Develop guidelines for ethical AI use, considering factors like data privacy, transparency, and fairness.
How Metamorph AI can help
Interested in rapidly leveraging newly available AI capabilities to gain a competitive edge?
Ready to align your leadership team on the need for deep investment in a strategy to stay relevant in the Age of AI?
Let's schedule some time to discuss how Metamorph AI can serve as a strategic partner to your organization and an extension of your R&D team.