AI Disruption: Why Small Businesses May Outrun Corporate Giants
Are you feeling a bit uneasy about the uncertainties surrounding AI, you are not alone.
Dear BAE Community,
Are you feeling a bit uneasy about the uncertainties surrounding AI and its impact on the future of your career? If so, it’s a good sign – it means you’re aware of the changes happening around you and are starting to make sense of it all.
If you’re not yet concerned or paying attention to this shift, it’s time to take notice.
The world of business is evolving rapidly, and so is the role of the Business Analyst. The days of primarily documenting requirements or relying solely on stakeholder workshops are transforming.
This change isn’t just about integrating tools like ChatGPT into your workflow – that’s already a basic requirement. It’s about understanding the broader picture of change that will affect many companies and their employees.
Let me explain further...
At the #SuperAI conference in June, I learned that larger businesses are still catching up with AI adoption.
They understand the necessity of incorporating AI quickly, but they also realise their data and workflows need significant preparation.
Consequently, they must invest heavily in resources (like Business Analysts and Data Analysts) to get their systems ready for AI.
This seems like positive news for our jobs, right?
Initially, I thought this was fantastic news for Business Analysts, and I still believe it is for at least the next 2-3 years (no more than 5 though!), provided we up skill in AI, Business Analysis, Data Analysis, and future technologies like Web 3.
However, a recent interview with #CathieWood by #PeterDiamandis made me look at this differently...
Something I didn’t consider before…
This is the most significant change of our lifetimes, and Business Analysts will inevitably experience radical transformation alongside everyone else...
#CathieWood mentioned that while larger businesses are working to get their data and workflows in order, smaller, more agile players might seize the opportunity and lead the way in AI adoption.
Did you fully absorb that statement?
Let me repeat in different words….the slow moving giants of today may not be able to change fast enough…
Visionaries like Cathie Wood and Peter Diamandis predict that many large organisations may struggle with this AI transition and could be outpaced by smaller companies that swiftly integrate AI into their business models.
Where does this leave Business Analysts?
The short answer is that the future holds some uncertainty for everyone, not just BAs.
The longer answer is that the best course of action for us is to up skill and embrace initiatives around business disruption, new technologies, and AI.
If you’re comfortable in your BA role, it’s time to step out of that comfort zone. Wake up early, dive into learning about AI, get sound Business Analysis skills and explore the new ways of working.
While we may not have all the answers, Peter Diamandis offers a great metaphor about our future in this new AI world:
We are at a point similar to the late 1800s and early 1900s (the Second Industrial Revolution), when society transitioned from horse and cart to cars and tractors, embraced electricity, and saw the birth of telecommunications.
People then were uncertain about their future, but look at where we are now.
The human capacity to innovate and create is unstoppable.
They discovered remarkable new ways to grow and realise new dreams.
So, even though we don’t know everything, we will learn and reinvent ourselves along the way.
For now – be proactive and align yourself with the wave of change. Embrace AI, up skill, and ensure you are on the right side of this exciting transformation.
In conclusion,
Stay tuned, there is so much to unpack, essential knowledge you should start embracing to be ready for the AI revolution.
Thank you and share your thoughts, I’d love to hear them.
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