Our AI event, How AI Will Impact Your Business in 2024, was an absolute blast! We learned, laughed, and had a great time.
If you didn’t get a chance to catch it, no worries! Today’s blog summarizes what Dr. Jeff Guan and Chris Howard shared in their talks.
Sit back, relax, and prepare to be amazed! ?✨
Dr. Jeff Guan: “AI is not going to take your job—people who work with AI will take your job.”
After some light networking, our AI event kicked off with a keynote by Dr. Jeff Guan, the Interim Dean at UofL’s College of Business. Known for his extensive contributions to Computer Science and Engineering, he didn’t just talk about AI but gave us a clear picture of how it’s gonna change businesses in 2024 and beyond.
Unraveling AI: From Theory to Application
Guan started by sharing what AI is via a simple example: he showed how truck routes used to be calculated (miles * speed limit = time needed) and how that doesn’t account for traffic, weather, and other everyday issues on the road. With the help of technology, we can be more accurate in predicting how long something will take, considering all those variables and more. He then explained how AI has evolved since the 1950s, from the first neural networks to deep learning.
The AI Inflection Point: Why Now?
In today’s landscape, It can feel like “AI is everywhere, all at once.” The reason AI is booming right now, as explained by Dr. Guan, is because of the combination of better algorithms, the incredible increase in computing power, and the massive amount of data and data storage available.
Dr Guan moved on to the next section with this statement: “We tend to overestimate the short-term impact of technology but underestimate its long-term impact.” Dr. Guan made a good point by comparing this moment to other significant technological shifts, like when factories started using electricity instead of steam or when the internet created a ‘platform revolution:’ companies who built their business on software (Google, Uber, Netflix, Airbnb, etc.)
AI and Your Business: Navigating the Landscape
Next in his talk, Dr. Guan explained how AI will affect your business over the next year. He touched on a bunch of different ways it can be used in other areas: consumer goods and retail, manufacturing, media and entertainment, financial services, and more.
Dr. Guan then asked: “Do you have an AI strategy?” He clarified that it’s not just about having the right tech: for long-term success, you also need to rethink your team, your plans, and how your organization is structured to make AI work effectively for your business. His roadmap for successful AI adoption revolved around combining talent, technology, data, and a clear strategic vision. “There are no quick fixes,” but you gotta start somewhere!
Are You Prepared for the AI Wave?
Dr. Guan then laid out essential considerations to keep in mind. Most importantly, you’ll need a clear roadmap that aligns your senior leadership with your vision and value to reimagine the business. You’ll also need talent, an operating model, technology, data, and an adoption and scalability plan around AI.
The biggest piece? If you have the “Ability to connect the dots between technology and business impact,” you’ll be all set! He then reiterated his main point: “AI is not going to take your job—people who work with AI will take your job.”
Chris Howard: Real-World Examples of AI Business Tools
After that fantastic keynote, the stage was open for Slingshot’s very own Chris Howard, a tech buff who has been in the game for over 20 years. With a knack for road mapping and some education on Artificial Intelligence from MIT, he shared some AI tools that businesses can start using right now.
ChatGPT
Amidst all the cool tools, ChatGPT stands out as the OG; everyone in the room knew what ChatGPT was. Chris shared that it’s ideal for brainstorming sessions and handling time-consuming tasks. He then showed in real time how ChatGPT can help you in your business: from drafting a sales pitch to building a marketing strategy, you’ve got a lot of options!
Otter.AI
The second tool Chris shared was Otter.AI, and people were excited about it (and for a good reason!) If you don’t know, Otter generates real-time meeting transcriptions with an AI chatbot that you can ask about the meeting.
It not only transcribes meetings in real time, but it also provides tools to help your teams collaborate. Chris then showed how the presentations had been recorded in Otter in the background and was able to ask the chatbot questions about what was being shared. Crazy stuff!
Grammarly
Last but definitely not least, Chris spotlighted his favorite tool: Grammarly. This tool is more than your average spell check; Grammarly helps make your content better, no matter what or where it is. You can use it to fix the tone or elevate your text in emails, reports, and any written stuff online! Once again, Chris showed how Grammarly does it all via a Google doc with errors; in seconds, the content was better and ready to go.
Other Tools
In what you could call the ‘honorable mentions,’ Chris then shared more AI tools Slingshot uses (without a demonstration this time.) Dall-e, Canva, Notion, and CoPilot are all tools that have a lot up their sleeve: generating images from text, redefining design, assisting with writing, and auto-completing code.
Final Thoughts
Dr. Jeff Guan’s address was a wake-up call: Ai is not just a fad or something that will happen in the future. It’s a massive opportunity for businesses to evolve, and it’s happening right now. And we can’t forget about how Chris gave our visitors a new toolbelt filled with game-changing technology.
As people left the event, they were all discussing what they could do to get ahead of the game with AI. The event got people thinking that they shouldn’t just adapt but embrace the coming changes and make the most of them ASAP.
If you’re looking for help bringing AI into your business, we’re now offering FREE one-hour AI workshops! These are great for any C-suite who wants to know how AI can plug into your specific industry or process. If you want to learn more, don’t hesitate to reach out!
If you’re looking for help bringing AI into your business, we’re now offering FREE one-hour AI workshops! These are great for any C-suite who wants to know how AI can plug into your specific industry or process. If you want to learn more, don’t hesitate to reach out!
