Meta's product director, Esther Crawford, has issued a stark warning for businesses: those not using internal AI tools are already lagging behind.
Crawford, who previously worked with Elon Musk during his Twitter takeover, emphasized the importance of AI in maintaining a competitive edge in today's market. She highlighted Meta's own internal AI tool, Metamate, as an example.
You’ve never used Metamate if you don’t work at Meta. It’s an AI for employees that’s trained on an enormous corpus of internal company docs. I use it all the time for efficiency gains.
— Esther Crawford ✨ (@esthercrawford) August 17, 2024
Any sizable company operating without an internal AI tool is already behind the curve.
Meta Exec Warns Companies Not Using AI Tools
Initially introduced to employees about a year ago, Metamate is designed to help Meta staff with various tasks, such as summarizing meetings and debugging features. The tool uses Meta's vast data to boost efficiency and productivity, a necessity for keeping pace with industry leaders.
Meta isn't alone in this AI push. Other major companies like Shopify and EY have also developed internal AI tools to improve operations. Shopify's VaultBot, for example, answers about 32% of all engineering questions, significantly enhancing their internal processes, according to Business Insider.
In response to Crawford's post on X, one shared how Metamate improved her performance review by highlighting overlooked accomplishments and writing code faster than she could manually. Such tools are becoming integral to daily workflows, not just at Meta but across industries.
The trend extends beyond tech companies. Consulting firms like EY, PwC, and KPMG are investing billions in AI to enhance their services. For instance, EY's AI tool, EY.ai EYQ, supports their in-house chatbot, while PwC plans to spend $1 billion on AI over the next three years. KPMG is following suit with a $2 billion investment in AI and cloud services over five years.
Financial institutions are also adopting AI. Goldman Sachs plans to roll out generative AI tools to employees, while JPMorgan has already introduced its AI assistant powered by OpenAI.
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Survey Reveals Companies Are Prioritizing AI
This AI adoption is not just a trend; it's a necessity. A survey by Bain & Company found that a majority of 200 US companies, each with at least $5 million in revenue, listed AI adoption as a top-five priority. On average, these companies spend $5 million annually on AI, with some investing over $50 million per year.
As companies increasingly rely on AI for tasks ranging from coding to risk management, those without such tools risk being left behind.
According to Dr. Sasha Luccioni, a highly respected expert in AI energy usage, there is great potential for promoting sustainability through the use of AI. Luccioni said the issue lies in companies perceiving it as a solution that can be applied universally.
Integrating AI into your strategic objectives for sustainability is recommended. Companies can establish internal guidelines for using AI and apply pre-trained AI models to minimize energy consumption throughout their operations effectively.
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