AI at work is not coming; it’s here — and it’s not showing signs of slowing down.
<p style="text-align: center; font-size: 18px; font-style: italic; text-indent: 0.5em;">In 2024, we’ve seen some impressive wins and some
facepalm-worthy failures in the AI space.</p>
What does mean for you and your business, you might ask? A lot!
As Winston Churchill famously said, “If you don’t take change by the hand, it will take you by the throat.
”This sentiment rings true as organisations explore the evolution of AI. Below, here are some standout moments from this year.
The Wins: When AI Nailed It
Some companies got it right this year, really right. Highlights include:
IBM Turning HR into a 90-Second Task
IBM is leading the charge by showing how they can work AI to their advantage. Their digital assistant, AskHR, is a game-changer in HR. It now answers 94% of HR questions and completes tasks like generating employee verification letters in just 90 seconds. They’ve shown how AI can reduce hiring costs while also improving efficiency.
HR teams everywhere should be paying attention.In fact 2023, IBM boldly announced a pause on hiring for certain roles they expected AI to replace. However, at the time of writing, their career site still listed several HR openings, though most were entry-level and based in lower-cost countries.
Bank of America Breaking Ground with “Erica”
Bank of America (BofA) has been a pioneer in the AI game with its virtual assistant, Erica. Launched in 2018, Erica started as a virtual assistant for customer enquiries and financial advice, but it has since progressed into a powerful tool for improving engagement and supporting efficiency.
BofA’s early leap into AI shows they mean business.
<p style="text-align: center; font-size: 18px; font-style: italic; text-indent: 0.5em;">TBanking and financial services will keep doubling down AI.
If you’re in this sector and not preparing to embrace it, you’re already behind the curve.</p>
Walmart Making Life Easier for Store Employees
Walmart is tapping into AI to help its frontline teams. Their AI-driven assistant, “My Assistant,” delivers instant answers, personalised training and 24/7 support right when employees need it.
The result? Happier staff and smoother customer service!
Siemens Slashing Downtime with Smarter Machines
Siemens is using AI to keep its factories running smoothly.
By predicting when machines might fail, they have reduced downtime by approximately 20%, saving millions in operational costs and minimising waste. It is such a win that other big manufacturers are starting to follow their lead.
JP Morgan Tackling Fraud with Real-Time AI
JP Morgan is integrating cutting-edge AI to steer clear of fraud.
Their real-time transaction analysis has slashed fraud cases and improved compliance tracking. On top of that, generative AI is helping analysts make faster and smarter investment decisions, which shows how AI can drive both security and strategy.
IBM Revolutionising Cancer Care with Watson for Oncology
IBM Watson for Oncology is transforming how oncologists approach cancer treatment. It analyses medical records, research and clinical guidelines and delivers personalised, evidence-based treatment options.
This is a major advancement in leveraging AI for healthcare outcomes.
Starbucks Changing the Game with Smart Scheduling
Starbucks is making life easier for its baristas with AI-assisted scheduling that predicts peak hours and adjusts staffing accordingly. This has cut customer wait times by 10% and helped reduce burnout.
Coca-Cola Streamlining Operations with AI-Powered Logistics
Coca-Cola is turning to Microsoft’s AI tools to optimise its supply chain. This has resulted in smoother logistics, lower operational costs and a more efficient system to keep shelves stocked.
China Paving the Future — Robot Style
In a remarkable feat, China completed a fully unmanned paving project along a 157.79 km stretch of highway using robots and drones!
Zero human workers were involved, showcasing the potential of automation in construction. It’s a game-changer for industries looking to push efficiency and safety to new heights.
Boeing Boosting Flight Safety with Smart Sensors
Boeing is upping its safety stance with AI that detects anomalies in aircraft sensors. By identifying potential problems early, they’re making flights safer and more reliable, showing how AI can deliver precision where it matters most.
Klarna’s AI Reduces Need for 400 Customer Service Workers
Klarna has built its own AI assistant that now handles most customer queries — saving the company from hiring 400 customer service workers.
This has facilitated 2.3 million conversations, which represents two-thirds of their customer service exchanges and equates to the output of 700 full-time agents. Not only does it resolve issues faster, dropping the average time from 11 minutes to under 2, but it’s also driving a 25% drop in repeat inquiries.
Klarna Cutting Costs without Cutting Corners
Klarna’s AI is also shaking up its marketing strategy, cutting the sales and marketing budget by 25% in Q1 2024 while boosting the number of campaigns they’re running. AI has saved them $10 million annually by optimising processes like image generation and campaign management.
Walmart Using AI to Improve Scheduling
Walmart’s AI system automates scheduling and optimises staffing by analysing sales, customer flow and workforce availability. This has helped ensure stores are better staffed during peak times, improving both employee satisfaction and customer service.
The Fails: When AI Dropped the Ball
Of course, not every AI experiment was a success.
Here are some missteps from 2024: but don't let that scare you off — AI is here to stay, and with the right approach, the benefits far outweigh the risks:
Microsoft’s MyCity chatbot was supposed to help people navigate their local communities. Instead, it started giving inaccurate (and sometimes illegal) advice. Oops.
McDonald’s Drive-Thru Disaster
McDonald’s tried to streamline its drive-thrus with AI, but it didn’t go as planned. In one viral TikTok, a customer begged the AI to stop adding Chicken McNuggets to their order. It didn’t stop until it hit a ridiculous 260 nuggets.
<p style="text-align: center; font-size: 18px; font-style: italic; text-indent: 0.5em;">These AI fails are a reminder that AI needs to be well-tested and paired with human oversight to avoid disasters.</p>
What This Means for Your Business
AI is transforming work across industries, and the companies getting it right like IBM, BofA and Klarna, are using it to cut costs, boost efficiency and engage both employees and customers.
While there have been a few bumps along the way, these challenges only emphasise the importance of careful planning, testing and having a strategy to manage any unexpected twists. With the right approach, AI can drive incredible results!
Whether you’re training your team to work alongside AI or preparing your workforce for what’s next, we’re ready to partner with you.
Contact GoFIGR today and learn how we can help you navigate the shift and build a future-ready workforce alongside AI!
Helena Turpin spent 20 years in talent and HR innovation where she solved people-related problems using data and technology. She left corporate life to create GoFIGR where she helps mid-sized organizations to develop and retain their people by connecting employee skills and aspirations to internal opportunities like projects, mentorship and learning.
