(Side Note: I use AI for Artificial Intelligence, but I implore you to think of AI in business operations as Augmented Intelligence)
AI is more than robots in factories or self-driving cars. People can use AI in their everyday lives. Rather than rely on hope and good intentions, AI predictions introduce a dose of reality to people’s planning.
Take New Year’s resolutions as an example where AI might add a disappointing dose of reality.
There are very popular resolutions a lot of people make every year: work out more, eat healthier, read more, and so on. A lot of people have also made the same resolution in previous years! They mostly have been unsuccessful.
AI can help people determine what level of change their resolution will induce. Alternatively, AI can predict when people will fail in their resolutions.
If there were some truthful survey data from previous years, AI engineers could easily create predictive models. The models would easily tell you the likely increase in the number of gym visits, or servings of fruits and vegetables eaten, or books read in the new year. Depending on the survey content you could also get a more accurate prediction based on demographic information like age, gender, education level, and so on.
For most people the predictions will be disappointing. Being disappointed in your personal life is not hard, but at least there is always next year to try again!
Applying similar predictions on planned changes to your company’s operations is more important. As an executive or manager, you don’t have a “next year” option. AI helps guide you to avoid failure to achieve this year’s goals.
And, like common personal new year’s resolutions, a lot of competitors are monitoring and predicting their business resolutions using AI.