07/11/2024

How AI is Changing Workers' Relationship with Data

AI is transforming how Americans work

Artificial intelligence (AI) will not just transform the way we work as people; it will also alter the dynamics and organization of industries. The business models of entire fields will be upended. The organizations that come out on top will be those that are best at creating a positive feedback loop between people, data and AI.

Each of these elements will be critical. People will still matter. Employees will need to help create and curate the data that will train AI, which in turn will help people become more efficient and successful. The businesses that can establish this feedback loop and run it fastest will outcompete the rest. The key for most companies will be figuring out how to turn not just knowledge but also experience and wisdom into data, and then that data into insight.

AI depends on three components: algorithms, computing power and data. But apart from some large technology firms and savvy AI start-ups,companies will not create their own algorithms. They will depend on a handful of algorithms developed and sold by tech firms, or that are avail- able for free through open-source purveyors such as Hugging Face. Computing power will not be a differentiator, either: Most have access to the same kinds of data center servers run by the biggest tech companies. No, for most companies, competitive advantage will come from its unique data.

Please select this link to read the complete article from Fast Company.