The Role of AI Adoption in Businesses: A Path to Transparency and Growth
In the ever-evolving landscape of technology, artificial intelligence (AI) is emerging as a transformative force, reshaping industries and the way we perceive the world. AI’s impact is profound, from enhancing customer service with chatbots to navigating self-driving cars through city streets.
Yet, with the rapid progression of AI, concerns often arise regarding its potential to render traditional jobs irrelevant. Qazafi Qayyum, the CEO of TenX, an AI software and solutions company, dismisses these apprehensions.
He asserts that AI should not be seen as a threat but as a valuable tool to boost performance and efficiency. We currently reside in an age where AI is essential for rapidly and accurately analyzing the massive amounts of data produced each day, enabling us to make better-informed decisions, he explained in a recent interview.
The Misconception of Job Displacement
A common misconception about AI is that it will lead to mass unemployment. However, empirical evidence contradicts this belief. While AI can automate repetitive or risky tasks, it simultaneously generates new opportunities. It cannot replicate the intricacies of human thinking and creativity.
AI is designed to automate repetitive and hazardous functions, allowing human workers to focus on more creative and strategic tasks. Consequently, AI can assist businesses in making superior decisions, enhancing efficiency, and reducing costs, all without jeopardizing job security. Rather than being a source of fear, AI should be embraced as a tool for improving our lives.
Combatting Financial Misconduct and Fraud
Qazafi Qayyum highlights that businesses with the ability to leverage their data are poised for success, regardless of their size. In this age, a company’s size matters less than its agility in decision-making, and AI plays a crucial role in this agility.
TenX, boasting a team of 200 tech consultants and 25 support staff, has expanded its presence to the US, Canada, Australia, New Zealand, and the UK. Plans are underway to establish an offshore delivery center in Estonia and explore the Middle East market, with a particular focus on Saudi Arabia.
Addressing Brain Drain and Talent Shortage
The IT sector in Pakistan, while promising, faces challenges, with brain drain being a significant concern. The departure of tech professionals due to economic conditions has hit the industry hard.
Accessing the talent pool in Pakistan has also become more challenging as demand for IT professionals far exceeds supply. Collaborative efforts among the industry, academia, and government are essential to tackle this issue.
Unlocking Pakistan’s IT Export Potential
Despite these challenges, Pakistan’s software exports have seen steady growth in the global market. Qazafi Qayyum believes that by addressing these obstacles, Pakistan could achieve a significant increase in its IT exports.
While the current software exports stand at $2.5-3 billion, eliminating these hindrances could lead to an export revenue of $10-15 billion.
The Challenge of Business Environment
The ease of doing business in Pakistan remains a challenge. The country’s geographic location often raises concerns among clients from more mature markets like the US, EU, Australia, Canada, and New Zealand.
However, clients generally do not express concerns about the capabilities, culture, or people of Pakistan. The negative news and perceptions surrounding the country have more impact. Addressing issues such as internet disruptions during protests, power outages, and operational costs is essential to position Pakistan as a prime destination for companies and boost IT exports.
Government’s Role in AI Adoption
Qazafi Qayyum highlights the untapped potential for AI adoption within the government. AI and data analytics can enhance project planning, infrastructure investment decisions, and policy formulation.
The government can use technology to improve transparency, plug financial misconduct, and make data-driven decisions. It is not a lack of awareness but the intent that needs addressing. Pakistan has the potential to leverage AI for comprehensive government applications, leading to a more efficient and transparent system.
Conclusion
AI adoption in businesses is not a threat to job security but a catalyst for progress. The technology is instrumental in enhancing transparency and efficiency across various sectors.
