The quote “When the winds of change blow, some people build walls, and others build windmills” is a timely reminder that people have two choices during times of change: resist and try to maintain the status quo or adapt and use the change as an opportunity to grow and thrive. People who embrace change and push boundaries are often the ones who succeed.On World Creativity and Innovation Day (April 21), let’s consider how technology and innovation are changing our world. Technologies such as artificial intelligence (AI) and machine learning (ML) are evolving at a pace that may seem frightening. Yet individuals and organisations that embrace the potential of these tools can benefit from elevated productivity and faster growth.
With its ability to automate repetitive tasks, analyse data at scale, and predict outcomes, AI is driving a new wave of productivity gains and breakthrough innovation across industries. At its best, AI has the potential to free people from doing boring, repetitive work, so they can focus on creativity, strategy and human relationships.
AI and productivity: The benefits of automation
Automated AI systems can let a business carry out tasks faster and more efficiently, as well as reduce fraud and other risks. This can create cost-savings that can be potentially passed onto customers. AI can also improve the customer experience by speeding up and improving the accuracy of business processes.
Furthermore, AI can enable organisations to make sense of vast amounts of data in real-time, allowing them to make better-informed decisions. For example, in the healthcare sector, AI-powered systems can help doctors diagnose diseases more accurately, identify potential drug interactions, and even predict patient outcomes. This can help reduce the cost of healthcare, health insurance and improve access to quality health services.
Yet as exciting as the technology is, it raises challenges in terms of ethics, privacy, and security. As AI systems become more sophisticated, they may create unintended consequences, reinforce biases, or infringe on privacy rights. And in societies like South Africa, where half of youth are unemployed, there are understandable concerns about automation displacing even more people from their jobs.
Building windmills: Embracing innovation for social and economic development
As tempting as it might be to slow down the progress of technology, societies and companies should instead become builders of windmills. The alternative is to become less competitive and efficient. While there are risks and challenges in adopting modern technologies at scale, there are also immense benefits to be gained.
History shows that innovators in Africa are especially well positioned to harness technology to drive social and economic development, such as creating innovative solutions for healthcare, education, finance, and agriculture. Mobile telecoms and mobile money, for example, have transformed life across the continent, creating value and jobs in the process.
The speed of innovation in AI appears daunting, but the technology has the potential to transform industries and improve our lives in numerous ways. Employees and organisations should seize the opportunity to acquire knowledge and skills, experiment with latest ideas and implement innovative solutions to improve productivity and drive growth.
On World Creativity and Innovation Day, it is essential to celebrate and recognise the contributions of innovators and inspire the next generation of innovators. By fostering a culture of innovation in every workplace, we can change the course of our country’s development through technological advancements.