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No longer a distant concept, artificial intelligence stands to change almost everything in the world of business.
That’s according to LSU Executive Vice President and Provost Roy Haggerty, who works with organizations and companies to implement AI best practices and who sat down for the latest episode of Business Report’s Strictly Business.
While he says it’s hard to predict the pace of the transformation, AI ultimately represents a productivity gain for businesses.
“AI is not going to, I don’t believe, displace or unemploy a lot of people,” he says. “What it will do for businesses is make you more efficient, or it has the opportunity or the possibility of making your business more efficient.”
When it comes to adopting the technology and prioritizing its incorporation into company functions, Haggerty says the only time that would be better than today, would have been yesterday. The only time worse, he says, is tomorrow.
“Businesses that get in earlier are more likely to take advantage of it and/or be damaged by it less,” he says.
One of the largest hurdles executives face when rolling out AI initiatives at scale is the inevitable disappointment when experimenting with the technology.
“Not everything that you attempt will succeed,” he advises. “But I wouldn’t recommend writing it off if it doesn’t succeed.”
A second hurdle is having the right talent in the company to utilize the tech and knowing where to implement the software in the company first.
“Pick an area and pick something you … trust that where you could implement AI and use that as an opportunity to build capacity in your organization,” he says. “Take it one success at a time.”
