The value of technology for an entrepreneur can’t be understated. In today’s world, the more tasks you can delegate to a computerized system, the more time you’ve got to focus on other things. This process of leaning on technology to do certain tasks will become even more impactful over the next decade and beyond. Why? Artificial intelligence (AI). As AI systems become more sophisticated, more and more business-related tasks will become automated. That, of course, means people will either lose their jobs or be forced to pivot and do something else [1].
AI will also create new jobs. There will be countless changes between now and this AI-led future, but the point here is that we’re moving in that direction. We’re moving in that direction faster than the pessimists would like. Indeed, for every person championing AI, dozens are fearful of the impact it will have. We’re not going to rehash those concerns. The opinions of naysayers dominate the current AI debate. What is, perhaps, a more interesting angle for business owners to consider is that of the optimists.
Just as there are people who believe that AI will cause the downfall of humanity, others see it as the solution for everything. There’s no doubt a lot of innovations will improve the world around us, but we can’t forget about the human touch. AI chatbots [2], such as ChatGPT, are capable of conjuring up complex responses to questions. For example, if you want song lyrics in the style of David Bowie, ChatGPT can do it. If you want a simple breakdown of the US tax laws, it can do it. However, when it comes to dealing with specifics, AI currently falls short. That’s why we can’t lose sight of the value experts in a particular field offer.
Experts Are Still There to Guide You
Let’s consider the position of a business owner who wants to grow their business. They’ve identified a need for more workers and believe that hiring people from overseas is a good way to create a diverse business. Using a computer and the internet to understand the basics of recruiting people from overseas is entirely possible. You could even ask ChatGPT a few questions about the UK’s immigration system and the various laws that govern it. However, as is often the case in business, the basics are never enough. The devil is in the details. This is where experts come into their own.
Sticking with the UK example: a business owner wanting to recruit people from overseas needs something called a sponsor licence. Immigration law firm Reiss Edwards has a complete breakdown of the sponsor license, what it entails, and how to submit an application to the government. You may feel you can take on the challenge of navigating the application process on your own because you know your business and whether it’s suitably structured to meet the criteria for the sponsor licence. However, an immigration lawyer understands the licence and application process from theoretical and practical perspectives. They can also assess your business, ask you questions, and tailor their advice accordingly.
That’s the value of human interactions. Computers deal in cold hard facts but, as every entrepreneur knows, things in the real world rarely play out how they’re supposed to.
Computers Work for Us, Not the Other Way Around
A computer won’t have a sympathetic ear when you’ve been waiting for three months because the people handling your application are taking too long. A computer doesn’t have experience handling similar requests, so it can’t anticipate some of the problems that might occur. What we’re saying here is that we can’t lose sight of the value people have in business. Computers and technology are great. They can increase productivity, analyze data, and identify new business opportunities [3]. However, they’re not perfect and they can’t do everything.
Business owners need to remember this. Becoming too focused or reliant on technology isn’t sensible. Humans still have a lot of value. We’ve given you an example from the world of employment law, but there are countless others we could use. In retail, for example, humans are still vitally important. According to data published by Internova Travel Group and One Poll, 70% of people said they trust human sellers more than technology. Why? Because, according to the report, they believe humans offer a better overall service. The report also shows that 74% of those surveyed believe companies are becoming too reliant on bots and automated systems [4].
We’re not saying you should ignore the latest innovations and roll back the clock to a time before computers. Every modern business needs to embrace technology. What you shouldn’t do, however, is see it as the only solution. Don’t become an AI optimist who thinks it’s a panacea for all ills. Technology is an aid, it’s not the primary driver. Remember this as we move into the AI era, and you’ll continue to run a successful business that people want to use.
Further Reading
