By Contributor,Gary Drenik

Copyright forbes

Artificial Intelligence
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Judging by the current hype around artificial intelligence (AI), you would think it was invented yesterday. In fact, the concept has been around for decades, with the actual term “artificial intelligence” first coined in a research paper back in 1955. The reason for the hype is not so much the novelty of the idea, but rather that access to AI is no longer being the preserve of an elite group of computer scientists. According to the Edge AI and Vision Alliance, 314 million people globally used AI on a daily basis last year.

AI: a game-changer or a stepping-stone?

Generative AI (GenAI) is such a highly accessible AI technology, as reflected by the speed with which it has been embraced. In the three years since ChatGPT was launched, people have rapidly adopted GenAI in both their professional and personal lives. According to a recent Prosper Insights & Analytics survey, a third of US adults aged 18 and over (33%) have both heard of GenAI and are already using it. That figure soars to 42% for Millennials and 44% for Gen-Z.

Prosper – Heard of Generative AI
Prosper Insights & Analytics

Conducting research is the top reason why respondents use GenAI, cited by more than half (51%). Next comes writing assistance, such as generating ideas or providing feedback on writing samples (35%).

Prosper – What You Use Generative AI For
Prosper Insights & Analytics

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At present, GenAI tools, including ChatGPT and Copilot, are game changers for people across the world, helping them save time, to generate content, and enabling them to better educate themselves. Yet, for all its supposed “specialness,” GenAI will almost certainly turn out to be just one stepping-stone on a long and fascinating journey to an AI-powered world.

The reality is that by the time public excitement peaks over the latest development in AI, its next breakthrough is already knocking at the door. Right now, that breakthrough is probably the rise of agentic AI – autonomous systems that can make decisions and take actions independently to achieve specific goals. Agentic AI is like having your own digital assistant that can proactively handle tasks and solve problems without you having to constantly supervise it. It’s hard not to get excited about that.

The data imperative

Sure, agentic AI is a powerful tool, but to be truly effective, it needs high-quality, secure and accessible data – which is not always available today. Unfortunately, a lack of AI-ready data is one of the greatest barriers facing organizations looking to adopt AI systems, according to Joe Depa, EY Global Chief Innovation Officer.

“Proper data management and governance are critical to capitalizing on the competitive advantage offered by AI,” Depa says. “Yet many organizations lack maturity in data management, leading to failed proof-of-concept projects. It’s vital that organizations invest in upgrading their data infrastructure and adopting new methods for collecting, cleansing and cataloging and managing their data with consent.”

Depa adds that AI itself can even help produce AI-ready data. GenAI can be a fast, cost-effective way of generating synthetic data for training AI models, for example. Other AI tools can analyze and improve data quality while agentic AI can be deployed to manage a decentralized data infrastructure, enforcing standards and maintaining data consistency, and ensuring the data is handled in a trusted and responsible manner.

For organizations, AI-ready data is critical to effectively adopting agentic AI systems and achieving their desired return on investment in those tools. However, they should take a careful approach to data modernization. To get the best results from AI, it is essential to build a holistic data strategy that is aligned with the real value drivers for their business rather than shortcutting important processes in the rush to embrace the shiniest new tools.

It is also worth bearing in mind that, despite the hype, AI is only one piece of the innovation pie. Blockchain, robotics, quantum computing and the next frontier of tech convergence are all set to make up a piece of the pie that is disproportionately greater than their share of the conversation today. What’s more, the impact of AI will only be as strong as the organization’s own ability to innovate. Investing in people, processes and training, as well as fostering a culture of continuous innovation, are critical for unlocking the value of AI and other technological tools.

So much for the “next big thing”

While revisiting data management is key, effective agentic AI adoption also demands that organizations deploy the technologies in ways that serve a strong societal purpose. This is expected by customers and employees, especially younger generations. An EY study, The first global generation, highlights that young adults between the ages18 and 34 don’t necessarily see anything special about AI in and of itself. For them, it’s just another practical technology that can help the world to work better.

Their apathy is hardly surprising. After all, the current cohort of 18-to-34-year-olds is the most connected generation in history, a generation that grew up with the internet, social media and smart devices. Fundamentally, they are less impressed by the personal convenience benefits of the “next big thing” and more focused on its impact on their health and society more broadly. This generation prioritizes wellbeing over wealth, with more than half (51%) of respondents to the EY study citing mental and physical health as their primary measure of future success. Additionally, they see themselves as agents of change, with nearly two-thirds (64%) saying it is highly important to change things that are wrong in the world.

“Many of today’s young adults have never known a world that isn’t immersed by technology, so they are generally less interested in the cool factor and more concerned on the impact it can have,” says Hanne Jesca Bax, EY global vice chair for clients & industries. “This generation will be more inclined to focus on things like the ethical use of AI tools, ensuring that they respect individual privacy and don’t drive negative outcomes such as worsening existing social inequalities.”

The fact that advanced technology is taken as a given by the younger generation is underlined by 99% of those surveyed having a smartphone. Furthermore, 94% spend time using social media on a typical day. That said, attitudes toward technology vary considerably depending on the country where people live. Younger people in developing countries are much more likely to be excited about emerging technologies than their peers in countries that are saturated with technology.

As an example, 39% of Indian respondents to the EY survey like to try new technology before others – compared with just 10% of Japanese respondents. Similarly, more than three in five South African respondents (61%) are excited by the prospect of using new technological tools, but only 29% of Swedish respondents feel the same.

Force for good

AI might be the most talked-about technology on the planet today, but it may barely get a mention in 10 years’ time. It will be so embedded into how we go about our daily lives that we will take its existence for granted. Already the AI conversation is shifting from hype to real-world impact. What will differentiate the successful organizations of the future is not only how they use AI to drive operational efficiency, but how they apply it as a force for good.

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