AI is Becoming a Mandatory Tool for Businesses

By: Sarah Baase

AI is becoming a normal part of how businesses work today. It’s not just something big tech companies use anymore. Even regular companies are starting to depend on it for everyday tasks. From helping write emails to analyzing data, AI is changing how work gets done.

For one, businesses use AI to save time. Instead of spending hours doing repetitive tasks, workers can use tools like ChatGPT or Microsoft Copilot to get things done faster. For example, AI can write drafts, summarize long documents, or even help respond to customer questions. This lets employees focus on more important work instead of getting stuck doing small tasks all day.

“But I do find it helpful and a time saver in the ways I do use it. It’s taken away some of the burdens of day-to-day work. It’s also been especially useful for charting data in visually appealing, easy to understand graphics with much less time and effort than the old excel spreadsheet model,” Michelle Bittner, a Global Custom Solutions Lead (FTSE Fixed Income) for the London Stock, explains.

Another reason companies use AI is to save money. “We have a huge AI initiative firm wide and are being pushed to use it more and more. Hard to know whether that’s just because it’s actually the way of the future or a justification for money spent on the initiative,” explains Bittner.

On the other hand, this new integration could feel forced, especially if workers are not comfortable with the technology. So, while companies want to justify the cost of these tools, not everyone feels like they help in every situation.

If AI can do part of someone’s job, this can potentially lower costs because companies may not need to hire as many people. This is a big deal for companies trying to stay competitive. At the same time, some people worry that AI might replace their jobs or make their skills less important. However, Bittner explains that it actually cannot do her job fully. “… I only use it in a limited context. You still have to double check it as it can hallucinate but overall, it’s been helpful.”

AI can also help businesses make better decisions. It can look at large amounts of data and find patterns that humans might miss. “It’s different than any other software we’ve been given access to in the past. We have a dedicated AI vertical reporting into the CEO that was created this year and all of us have projects centered on AI integration firm wide.” But again, this ties into the idea of using less workers, which is what people fear the most.

“It’s not going anywhere anytime soon,” Bittner says.