AI is Changing How We Do Business: Let's Learn From a Story

Have you heard of a book called "Who Moved My Cheese?" It's about four friends - two mice named Sniff and Scurry, and two little people named Hem and Haw. They all live in a maze and find a big pile of cheese one day. This cheese story can help us understand what's happening in the business world today because of artificial intelligence (AI).

An Unanticipated Twist

All four friends believed their cheese, the center of their lives, was everlasting. But life, as it often does, threw them a curveball. One day, their cheese was no more. It had disappeared. Vanished.

Rather than getting caught in despair, Sniff and Scurry shook off their shock swiftly. They had already noticed before that the Cheese was vanishing. They tied their shoes and bolted off, ready to find new cheese elsewhere in the maze. Their spirit remained unbroken; their focus, undeterred.

However, Hem and Haw were taken aback, frozen in their tracks. Hem, in particular, was distraught. He was in denial, unwilling to accept the loss of their cheese. He wanted things to return to the way they were.

And then there was Haw. Yes, he was stunned, even scared. But with time, he realized they needed to act, to survive, they needed to find new cheese. So, he left Hem and went looking for it. He felt scared but also a bit excited. It was a long search, but one day, he found a new spot with cheese. It was even better than the old cheese. Sniff and Scurry were already there. They had found the new cheese a while ago because they were quick to change. Seeing this, Haw realized that changing and trying new things, even if it's scary at first, can lead to better things. He wished Hem could see this too. 

The New Cheese: Enter AI

In our narrative, the 'cheese' symbolizes traditional business methods. For instance, at Softude, many clients initially believed that having human agents answer all customer queries was the most effective strategy. These practices constituted their 'cheese'. However, as with the story, their 'cheese' has moved, replaced by AI - the new 'cheese'. AI can quickly answer customer questions, create desired insights from a mountain of data that was just lying idle, and comprehend numerous languages so customers can just speak what they want, in the language they want and AI can take care of the rest.

Like Sniff and Scurry, many businesses anticipated the AI revolution and were quick to embrace it, understanding the benefits of improved customer service and business efficiency. However, others, resembling Hem, find it challenging to abandon traditional practices and adopt novel technologies.

Real-Life Proof That Things Are Changing

Not sure if things are really changing because of AI? Here are some news stories that might convince you:

1. "Stack Overflow is ChatGPT Casualty: Traffic Down 14% in March". This shows that even websites that rely on people's expertise are being affected by AI.

2. "Chegg shares slump to more than 40%, blames ChatGPT for its stocks rout". Even online education companies are feeling the effects of AI.

3. "IBM Plans to Replace 7,800 Jobs With AI". This shows that AI is already here and is changing how we work.

Also, according to a report by OpenAI, "Around 80% of the U.S. workforce could have at least 10% of their work tasks affected by the introduction of LLMs(like ChatGPT), while approximately 19% of workers may see at least 50% of their tasks impacted"

Conclusion: It's Time to Embrace AI

So, AI is changing things very quickly. Businesses can use AI to work faster, do more, and keep their customers happy. Just like Haw learned in the story, "Noticing small changes early helps you adapt to bigger changes that are to come". It's important for businesses to see these changes coming and be ready for them. Drop your view in the comments below or get in touch to talk about your “cheese” situation or see how others are finding new “cheese”. 

• https://en.wikipedia.org/wiki/Who_Moved_My_Cheese%3F, https://arxiv.org/abs/2303.10130, https://www.similarweb.com/blog/insights/ai-news/stack-overflow-chatgpt/, https://newsroompost.com/business/chegg-shares-drop-to-more-than-40-after-stating-chat-gpt-killing-the-business/5250406.html, https://www.pcmag.com/news/ibm-plans-to-replace-7800-jobs-with-ai#:~:text=Amid%20widespread%20concerns%20about%20the,a%20new%20window)%20with%20Bloomberg.