Assisted Intelligence vs Artificial Intelligence

David Clee at MirrorWeb argues that AI isn’t currently something that will replace human intelligence; it is a powerful tool that can enhance our abilities. 

 

Over the last four years, AI capabilities have gone beyond our imaginations, with many of our most productive and established sectors adopting AI solutions to stay competitive and increase profitability. Organisations across the globe are aiming to implement AI solutions to streamline their operations quickly, leapfrog their competition and strengthen their position in the market. When the potential of AI is framed like that, I very much doubt there is a CEO on the planet who would turn it down.

 

So yes, AI is enabling amazing things in the business world. It’s remarkable how far AI has come over the last few years - but - as business leaders we need to stop and ask ourselves one question: Is the AI we’ve grown to appreciate actually "artificial intelligence," or is it more accurately described as “assisted intelligence”? Have we actually been using true “artificial intelligence”?

 

In my eyes, the answer is no.

 

How may I assist you?

Stop, breathe, reflect. If we were all to take a moment to reflect on what AI actually does today, I strongly believe more of us would agree that “Artificial Intelligence” should really be labelled “Assisted Intelligence.” Machine learning and natural language processing have reshaped both our professional and personal lives – with 75% of knowledge workers using AI at work today. But the idea of true AI—systems that can actually think and make decisions all on their own—is still more of a dream than a reality.

 

And this isn’t necessarily a bad thing!

 

You could argue that businesses don’t need true AI yet. In fact, when you dig a little deeper into their current pain points, it becomes clear that they’re often just looking for ways to manage the vast amounts of data they have to process and analyse daily. In fact, 53% of employees are getting weighed down by the sheer volume of data at work - keeping them from doing their jobs strategically.

 

So, what is the solution? Organisations need tools that can sift through this data noise and provide clear, actionable insights for their workforce to think strategically. 

 

The uncertainty surrounding AI  

Did you know that AI could increase global corporate profits by $4.4 trillion annually? Understandably, business leaders globally are excited about the increased profitability aspects of AI, especially when it comes to enhancing efficiency and improving decision-making. It makes sense that they want their slice of the AI pie.

 

But often this eagerness to innovate can be met with a great deal of uncertainty about what the business actually needs from these new technologies - usually from a risk-averse CFO or compliance officer. That is why companies need to remember that while AI tools, especially large language models, can quickly sift through and analyse large amounts of data, they don’t always make their decision-making process clear.

 

This can be particularly troublesome for compliance teams. For instance; they’ve seen a massive increase—up to 10 to 15 times— in the amount of data that must be reviewed over the last decade and a half. The prospect of AI learning to flag noncompliant behaviour for compliance officers is incredibly attractive in this context. However, the industry is still wrestling with the best ways to implement AI and machine learning for compliance tasks.

 

At the same time, regulators are still figuring out how data generated by chatbots fits within existing regulatory frameworks. Compliance professionals are busy ensuring they have the necessary data to make the required transformational changes. Compliance is a meticulous discipline, and trying to target something that’s constantly moving can often feel overwhelming and stressful.

 

Another major challenge organisations face is the lack of transparency in how AI makes its decisions. Questions inevitably arise about the origin of the information and whether it’s accurate or ethically sourced.

 

This uncertainty poses significant challenges for companies, especially those in tightly regulated industries - like the financial industry. They must grasp how AI outputs align with regulatory requirements to lower the risks of falling out of compliance, particularly with the expected rise in machine-generated content. 

 

For instance, FINRA released updated FAQs in May 2024, clarifying its stance on AI-generated content and emphasising that regulatory standards still apply. Essentially: organisations remain accountable for their outputs, no matter whether they were created by humans or AI.

 

The bottom line is that AI innovation for businesses is not easy - but - it should start with a clear vision. A vision that looks at how AI can tackle operational challenges while seizing growth opportunities—carefully weighing the risks of non-compliance against the significant benefits AI can deliver.

 

A year of challenges and opportunity

Despite the obvious challenges associated with AI, there are also plenty of opportunities for businesses willing to take on and navigate the adoption complexities. The good news is that as organisations increasingly recognise specific business needs, they will be able to tailor AI to assist them in extracting meaningful insights from their data.

 

Over the next 12 months, we should expect to see significant steps forward in AI innovation that will enhance its capabilities, making AI solutions more intuitive and user-friendly. Ultimately, this will enable organisations to use these tools more efficiently and effectively, understanding how to integrate these technologies into their workflows to gain a competitive advantage.

 

We are also going to see demand for ethical AI practices grow, meaning that organisations that prioritise transparency and accountability in their AI investments will be well-positioned to earn the trust of their clients, stakeholders and regulators. It’s not only about meeting regulatory standards; it’s also about fairness and equity.

 

Businesses are at a crossroads when it comes to AI. It’s important to recognise that right now, we’re still in the phase where we’re seeing Assisted Intelligence take the lead - where human oversight is still incredibly vital. We still haven’t reached the end game with AI, and as we all begin to prepare for the year ahead, we need to remember that AI isn’t currently something that will replace human intelligence, it is a powerful tool that can enhance our abilities.

 

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David Clee is CEO and Founder of MirrorWeb

 

Main image courtesy of iStockPhoto.com and Ekkasit919