Why it's worth the trouble

Now and again there are moments when business owners must ask themselves why they bother ? An election in this country creates a different Government who produces a new  range of challenges: higher National Insurance, increases in the minimum wage, the prospect of four day weeks, changes in inheritance tax – oh yes, and across the pond the incoming President is talking about punitive tariffs on imports.

And yet members of the Chamber and Initiative carry on regardless, employing people, giving them a chance to live the lives they want, providing goods and services and contributing to the local economy which supports those who need extra help.

Pandemics and high inflation may come and go but business folk keep at it, adapting to whatever the current circumstances happen to be. But our members are recognising they may be about to be faced with a new and unpredictable factor which is becoming increasingly a topic of conversation – Artificial Intelligence.

It’s been around for a while now, though for most businesses it’s only been lurking at the periphery of what they do. More recently our discussions have been touching on the topic more and more and businesses in a variety of sectors are starting to take it seriously, some with greater enthusiasm than others.

AI won’t dig a hole for you, but it might tell you where to dig it. It might not design a housing development for your, but it will accurately map out the site. There again it will suggest how it is laid out if you ask it. And therein lies the crux of the issue. What will you ask AI to do and what is it capable of doing ?

Our members seem satisfied it is useful for gathering and sorting large chunks of data and then presenting them to a human being who can use their experience, skill and yes, intelligence, to make the most of the information.

Currently AI does not appear to possess the ability to understand subtle elements and the kind of nuance that an experienced operator will use in their everyday interactions with colleagues and clients. But it learns fast. One system failed the New York Bar Examination the first time it took it, but passed second time round.

So, just when people in business thought they had a handle on the challenges they had to deal with, along comes something which has the potential to significantly disrupt the way they have always done things.

We don’t know how this story will end, but we can be sure of one thing. Our members will adapt, make the most of the opportunities and ensure that our local economy continues to thrive for the benefit of the whole community – that’s why it’s worth the trouble !