Why should AI literacy matter to your business?
I’m going to deliberately start this article with a big number to pique your interest. According to McKinsey, AI could add up to $4.4 trillion annually to the global economy. $4.4 trillion is more than the current size of the UK’s economy. It sounds impressive, but I think this monster number is unrealistic without a huge skilling and re-skilling task taking place. This is why I want to talk about AI literacy and why I think it’s so important, especially for businesses.
AI literacy: it’s not just for techies
Some might think AI is only for tech teams or companies with big budgets, but that’s just not the case. AI literacy is for all. It means everyone in your business knowing enough about AI to make informed decisions, to ask the right questions, and to understand how AI could (or should) fit into their job and business.
This doesn’t mean everyone needs to know in detail how each and every model, with random names like Chat GPT-4o or Claude 3.5 Sonnet, works from a technical point of view. But everyone does need to know which tool to use for the right task, what it’s good for, what it’s not, and where it (or even AI as a whole) might not be the right choice. The power of AI literacy lies in its potential to demystify AI and turn it from a daunting black box into an approachable, every-day part of modern work.
Why does AI literacy matter?
- Competitive edge: The list of benefits of AI is pretty much endless, but to pick a few, businesses that understand AI can identify opportunities faster, automate mundane repetitive tasks, and potentially deliver better customer experiences. Imagine knowing how to use AI to make sense of your previously indecipherable customer data, allowing you to personalise your services.
- Risk management: It’s no secret, AI has its risks – data privacy, biases, ethical considerations. An AI-literate team is better equipped to recognise any issues early, making sure that AI is implemented in ways that are ethical and match your company’s values.
- Driving Innovation: The best ideas for AI use cases will most likely come from those who understand their daily processes the best – your team. AI literacy across your whole company (not just select groups) can help your wider team to identify opportunities where AI could genuinely make a difference.
What should businesses consider to boost AI literacy?
- Start with the basics: AI literacy doesn’t mean trying to train your team on machine learning algorithms. Start by understanding the fundamentals – what AI can do, the different types of AI, and show your team some real-world examples relevant to your industry.
- Foster a culture of learning: Encourage everyone in your business to get curious about AI. A culture of learning turns AI into an exciting opportunity rather than a buzzword. Workshops, short courses, and informal use case demonstrations during lunch-and-learns can make AI accessible. As well as learning updates in our weekly AI council meetings, we’ve created an AI learning Teams channel that everyone shares the latest things they’ve learned. It doesn’t have to be onerous.
- Keep It practical: Focus on the tangible and real world. Show your sales people how AI can reduce their admin burden with tools like Glyphic, or your marketing team how they can improve campaigns with a tool like Jasper.ai. When people see AI’s practical, day-to-day benefits, engagement increases.
AI is a team sport
Embedding AI in your organisation requires change and change works best when every member of your team is educated, informed and feels involved. AI literacy can transform your business – you just need to get started.
If you’re wondering where to begin, get in touch. Whether its running AI training for your team or mapping out the first steps of your AI journey, we can help.
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