Technological change is moving at lightning speed these days, forcing companies to adapt if they want to stay relevant. And let me tell you, the advances we’re seeing in artificial intelligence (AI) are more powerful than anything we’ve seen before. Entrepreneurs and executives need to pay attention and take advantage of this quantum leap in efficiency that’s now possible.
B.C.’s Minister of Jobs, Economic Development, and Innovation, Brenda Bailey, knows the importance of embracing AI. She’s looking into ways the government can support businesses in adopting AI innovations. And she’s right on the money when she says that companies that embrace AI will be ahead of the curve, while those that don’t will be left behind. It’s definitely something she’s thinking about.
Bailey has been talking to people in Vancouver’s AI sector, like David Seymour, who holds a key position at Microsoft Corp. You won’t believe what Seymour told her. He said that with generative AI, you can hire just one software programmer for two weeks and that person can compile all of your company’s documentation, every single document, and make it searchable. Imagine the game-changing possibilities for your business analytics!
And Microsoft isn’t the only player in the AI game. Google is right up there too, offering a full set of services and technology stack for AI. They’ve got everything from high-performance AI infrastructure to their own foundational language models. It’s clear that these tech giants are betting big on AI.
But it’s not just the big players that are benefiting from AI. Even B.C. credit unions are leveraging AI to make smart decisions. They’re using AI technology from a Vancouver-based company called Judi.ai to determine how much credit or loan value to provide various small businesses. This AI-driven technology significantly speeds up the loan application process, giving businesses a competitive edge.
Charli.ai is another company in Vancouver that’s using AI to help the banking sector. Their software automates complex tax calculations and other business functions that make executives’ lives a whole lot easier. And they’re not alone. Companies like This.fish, Browse.ai, and Intelligent Project Solutions are also making waves with their AI innovations.
It’s no surprise that AI is seeing a surge in interest from larger businesses. In fact, according to a recent Scotiabank survey, less than half of Canadian small-business owners believe that integrating AI into their operations will help grow their businesses. There’s still some wariness and uncertainty surrounding AI among the general population.
But here’s the thing, folks. AI is not out to steal your jobs. Sure, some jobs may change or evolve, but AI opens up a whole new world of opportunities. We need to embrace the potential of AI and not let fear hold us back. Canadians, in particular, have some concerns about AI taking over their jobs, but let me tell you, the potential for growth and innovation is immense.
So, let’s not be afraid of AI. Let’s seize the opportunities it presents and stay ahead of the curve. Because when it comes to technological change, adaptation is the name of the game. Stay curious, my friends.