It is always interesting to see technology go through a familiar boom and bust hype cycle. The older you get, I suppose, the more you see of these. Unfortunately, I have learnt from history that when a transformational technology does appear it goes through this familiar initial hype cycle until it settles down into the background and becomes so helpful and common that we never think about it anymore.

I remember what a revelation getting hold of my first spreadsheet program and then adding a WYSIWYG editor (Lotus 1-2-3 back then). Since then, spreadsheets have become a standard tool for many things from planning to databases, to automation and even charting. They are pretty much indispensable not only for me but also to just anyone who uses any form of computer these days. Spreadsheets have truly become an integral part of most businesses today.

The challenge currently is to decipher the impact AI will have and separate reality and potential from hype. This is the confusing part for most people, even those who are in IT. Today’s landscape is dominated by fast headlines largely designed to grab attention but provide little substance or meaningful analysis. Gone are the days when something new like a spreadsheet would cause no more than a ripple in the media.

I have said previously that I don’t particularly like the way the term AI is being applied to just about everything under the sun these days. Unfortunately, that is the generic term it has been branded with and we will no doubt be stuck with. So, for now, let’s stick that. I would suggest that largely lost in all the hype today is the fact that AI is merely the latest in a long line of tools that technology has provided us. It isn’t some magical cure all product, it is simply something that needs to be wielded to reach its potential and benefit.

I think another misnomer currently doing the rounds is that AI is for everyone and that if you don’t use it regularly, you are somehow not ‘modern’. I would suggest that, yes, AI will, and actually probably already is, used by most people, but they are not even aware of that fact. It is becoming more and more baked into the services they use everyday. I think is different and more akin to people using cars without necessarily fully understanding how they operate. For most, a car is simply a transportation tool that allows them to conveniently get from one location to another. 

The current AI services that we seeing reaching market today are, I believe, largely benefit those that ‘create’ something. That is not to say those who ‘process’ information may also benefit but I believe that greater beneficiaries are those who ‘create’.

Without doubt, technology has already enabled a far greater army of ‘creators’ already. Just look to YouTube as enabler of careers that people have created just using the mechanism of video. Perhaps this is why AI is appealing to a greater audience that ever before. If you however look inside a business, AI is probably more going to benefit people who create financial report than those who do the account entry as an example.

I say all this in mind of Microsoft 365 Copilot and the recent price announcement from Microsoft of US$30 (probably AU$45) for the service. Many were surprised with that price point but I think they believed that this type of AI would be for ‘everyone’ in a business as conventional wisdom is suggesting. Instead, I would suggest, that, at least initially, Microsoft 365 Copilot is aimed at a much small population inside businesses.

This means that you should only think about Microsoft 365 Copilot as a tool for those who can benefit most from it, that is those who are largely creating information as I suggested. From my own experience as a creator, I can tell you that ChatGPT (I don’t have Microsoft 365 Copilot yet) make me far more productive. It allows me to create code. It allows me to generate content from course outlines to descriptions and marketing material. There is so many tasks that I have put it to that have saved me hours and hours. That is where the real benefit I believe lies in the here an now.

When Microsoft 365 Copilot becomes available, I will be investing in a license for myself in my business but I won’t be, at least initially, investing in it for others. Thanks to ChatGPT, I can already see the huge productivity benefits it provides as well as the ability to leverage resources that make my business more competitive and allows me to do more with less. However, AI, Microsoft 365 Copilot, ChatGPT, etc is no a panacea by any means. Can a screwdriver be used as a hammer? Sure, but it really isn’t the best tool for the job? To benefit from a car not only do you have to invest in one, you need to invest in learning how to drive it. It is the same any tool, technology based or not. Maximum benefit is only derived in learning how to use it.

I have found that, unsurprisingly, most people and businesses have heard about AI but are yet to experiment with it. They don’t know where to start. Even when Microsoft 365 Copilot becomes available, that won’t change as many won’t investment initially being sceptical and seeing price as a barrier. My suggestion is that if you look at your business and can easily identify those that ‘create’ then they should be priority candidates for AI. If enhancing their productivity by saving them at least one hour a day in their work, then they are again a good candidate for AI. These people can get started today by using ChatGPT and then look a Microsoft 365 Copilot when it becomes available broadly.

As with any technology, there will be a learning curve. Likewise, there will be a first mover advantage for those that adopt early, which is the payoff for their early investment. The secret is looking beyond the hype and recognising that AI is simply another tool, like many that have come before and like than that will come in the future. In there here and now its benefits largely get over hyped by those who probably only have cursory experience with the technology. The good news here is that taking you can start using this latest tech tool for your business today. It won’t be for everyone in your business just yet, but I’d be pretty certain that it would benefit at least one person in your business right now. If AI can indeed save even a few hours every week for that person and make them more productive, then it is worth the investment.

In short, judge the benefits of AI as any other business tool. It is something for your business, just not everyone in your business right now.