Microsoft launched Microsoft 365 Copilot earlier this year with powerful new generative AI capabilities for apps that millions of people use every day. Like Word, Outlook and Teams, to name just a few. A big question is what this all means for our society and how AI will change the way we work. Recently, Microsoft released new data and insights from its 2023 Work Trend Index report titled “Will AI Fix Work?” We have summarized the most important messages for you.
The report shows that the pace of work has accelerated more than people can keep up. This means our ability to innovate also suffers. Next-generation AI will take the burden off work. Companies that embrace AI have new opportunities to increase their creativity and productivity. “This new generation of AI will remove the repetitive elements from work and unlock creativity,” said Microsoft CEO Satya Nadella.
The report contains three important insights for managers who want to understand the importance of AI and use it responsibly for their company:
The digital debt costs innovation. We are all in digital debt. The volume of data, emails and chats exceeds our ability to process it. There is a way we can make our existing communications more productive. Every minute you spend managing that debt is a minute you aren't spending doing creative work. 64 percent of workers do not have enough time and energy to fully complete their work. And these employees have 3.5x more effort to innovate or think strategically.
There is a new alliance between AI and workers. For employees, the prospect of relief outweighs the fear of losing their job. Managers want to support their employees with AI and not replace them. 94 percent of people fear that AI will replace their jobs. But 70 percent would delegate as much work as possible to AI to reduce their workload. Executives are twice as likely to say AI would be most valuable if it increased productivity rather than reducing headcount.
Employees need AI skills. Employees will need new core skills, such as Prompt Engineering. 82 percent of managers expect that their employees will need new skills. The number of jobs on LinkedIn in the US that mention GPT has increased by 79 percent. These new, in-demand, AI-centric skills will impact everything from resumes to job postings.
The pace and volume of work has increased exponentially, exceeding people's ability to keep up," commented Microsoft's Jared Spataro. “In a world where creativity is the new productivity, digital debt is more than just a nuisance. You are endangering innovation! Next-generation AI will do the work for us and free us up so we can focus on the work that really matters
Are you interested in implementing AI in your company? Are you looking for inspiration? Then call us today for an inspiring first conversation.
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