Unleashing the Power of Generative AI in the Business Sphere: A Pragmatic Perspective

JJohn January 24, 2024 7:02 AM

Tim Siemens, CTO of Online Business Systems, offers an optimistic and pragmatic view on the potential of generative artificial intelligence (GenAI) in business. He believes GenAI can enhance productivity, aid in information summarization, improve conversational tools, and potentially create new job opportunities.

Generative AI: A business game changer

With 30 years of experience in the digital arena, Tim Siemens gives a practical perspective on the power of GenAI in business. During a virtual presentation to members of Tech Manitoba, Siemens emphasized the potential of GenAI to optimize a wide array of business processes. From general to specific tasks, GenAI is proving to be a versatile tool in the business world.

Siemens highlights the role of GenAI in aiding meticulous tasks such as summarizing complex documents, creating project plans, and generating meeting agendas. Furthermore, it can play a significant part in conversational response, extracting key topics from large documents when asked in the right way. The importance of clarity and context in questioning can shape the effectiveness of the AI-driven results.

ChatGPT, a free-to-use AI system, is rapidly growing in popularity. During Siemens’ presentation, a casual poll revealed that nearly 90% of the attendees have experimented with this tool. Within the first two months of its release, ChatGPT was used by approximately 170 million people, demonstrating the speed at which AI is becoming a cultural trend.

Enhancing conversational tools with GenAI

GenAI is already making waves in certain sectors. Siemens notes that Online Business Systems has utilized GenAI to enhance the quality of chatbots and conversational tools, particularly in the call centre industry. By improving the nature of these interactions, GenAI is set to heavily penetrate these markets.

AI and the future of the workforce

Siemens offers an optimistic perspective on the workforce implications of AI. Rather than replacing human jobs, Siemens believes AI will boost productivity, making tasks that were previously unfeasible due to effort or time constraints suddenly possible. This enhanced productivity could lead to increased demand for workers, particularly in companies like Online Business Systems that are harnessing the capabilities of AI.

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