Short note.
AI thrives on data — learning from what has happened to improve what will happen. At its core, AI is deeply rooted in statistics, analyzing patterns and trends to make informed decisions.
It means, AI is primarily good at optimizing existing workflows and processes.
In three ways:
Accelerate: AI makes slow processes faster. E.g. searching information.
Scale: AI removes resource constraints, enabling processes to scale. E.g. Customer Support, Personalization.
Economize: AI makes processes more accessible and cost-effective. E.g. Inventory management and forecasting.
For illustrations, in the context with the Generative AI:
Accelerate: can dramatically accelerate tasks that traditionally required significant time and effort. E.g. generating multiple marketing copies, brainstorming ideas.
Scale: enables processes that require cognitive efforts to be scaled effectively. E.g. chatbots and virtual assistants.
Economize: lower barriers to entry for various tools and technologies. E.g. graphic design, tour guides.