Perhaps you’re already completely exhausted by all the AI hype— or maybe you’re overwhelmed by the avalanche of wild new possibilities with AI: making movies, composing music, developing software, reading and listening for us—even talking to us.

Or perhaps you’re wondering where this is all headed.

A hundred years ago, the economist John Maynard Keynes suggested that his grandchildren would work only 15 hours a week. During the Industrial Revolution, with automation advancing, it seemed like we would soon no longer be needed. This idea of a future that doesn’t need us—famously explored in Bill Joy’s (a computer industry veteran) 2004 essay “Why the Future Doesn’t Need Us”—has resurfaced repeatedly over the years. Yet here we are, far from 15-hour workweeks, even after numerous efficiency revolutions.

Despite all this automation, many industries, including business administration, still face a shortage of skilled workers.

Why We Shouldn’t Be Too Scared

There’s little reason to panic. Over the past 40 years, those working on automating tasks have consistently managed to multiply the productivity of office workers by three, four, or even five times. While AI may boost efficiency further, it’s not an entirely new phenomenon. What is certain, however, is that the future of work will look different. Let me illustrate some of the changes I foresee.

In every line of work—certainly in business administration—there’s a range of tasks, from simple ones like data entry to more complex and demanding responsibilities, such as optimising business processes and evolving how your work gets done.
AI will impact this entire chain of work, but its impact will vary. At every level, AI will be relevant and will lower the difficulty of tasks, leading to changes for individuals and organisations alike.

The Simplification of Simple Tasks

Simpler tasks are the most likely to disappear entirely, as they will be carried out mostly by machine. Yet AI will also make its mark on more advanced functions, and every step of the difficulty ladder. For example, advisory AI could help optimise your accounting, your liquidity, and ensure you’re paying the right amount of tax while leveraging all available deductions.

These changes are worth planning for. If your main business relies primarily on data entry on an hourly basis, you should assess whether your business model aligns with the efficiency improvements AI will bring. Will you benefit from automation, or will it simply cut into your business?

The good news? AI will also offer you a lot of new opportunities alongside these challenges. The key is to offer value beyond what automation provides.

With AI-driven automation, the typical small business will have added insights into their operations. The routine admin work of keeping the books up to date will largely be automated, offering you much quicker and accurate updates on business performance.

Punching Above Your Weight

Small and medium-sized businesses will be able to "punch above their weight", managing their finances with the same kind of optimisation mindset that you typically find in larger enterprises.

Yes, your work will probably change. But by embracing the opportunities AI brings, your business can thrive in new ways, and your work may become more engaging and interesting than ever before.