In the last few years, the world has been captivated by the capabilities of AI, with the most transformative phase unfolding before our eyes as AI shifts from thought to action. According to a recent McKinsey article, we are transitioning from knowledge-based tools, such as chatbots that generate content and answer questions, to “AI agents” that can execute complex, multistep workflows across digital environments — the next frontier in generative AI.
While there is no hard and fast rule defining what AI agents are, a common understanding is that they are AI that solve problems, make logical decisions and independently handle a wide array of tasks.
Before we look ahead to what’s next, let’s look back to see how far we’ve come in just a short time, a testament to how fast AI is innovating. Let’s rewind to 2011 when “Hey Siri” first made it possible to get instant answers from our iPhones. Siri answered questions about the weather forecast, added appointments to your calendar, and controlled the thermostat in your home. Using natural language processing and machine learning, Siri introduced consumers to the power of their voice commands. It was a game-changer that transformed how we interacted with our devices.
This paved the way for a wide range of AI-related applications and technologies we know today. Siri was a milestone in the history of AI, driving innovation for advanced virtual assistants. Next came “Alexa,” bringing AI into our living rooms and getting people of all ages comfortable talking to machines. (Re-watch the SNL skit about the Amazon Echo for a little chuckle!) Alexa enabled consumers to interact with artificial intelligence in their homes, set reminders, play music, answer questions, tell jokes and place orders.
Since Siri and Alexa, we consumers, have interacted with countless chatbots and virtual assistants in customer service. These on-demand help desks offer 24/7 support to answer our questions and solve our issues. “Jenn” from Alaska Airlines can help with your mileage plan account and “Romie” from Expedia can help plan your next trip.
Fast forward to 2022, when OpenAI’s ChatGPT burst onto the scene, taking the world by storm. Currently boasting over 180 million users, ChatGPT’s advanced language processing capabilities have brought generative AI to the mainstream. Suddenly, GenAI was no longer a novelty; it has become a widely used tool to develop content, solve technical problems and more.
“The generative AI frenzy shows no signs of abating,” said Frances Karamouzis, Distinguished VP Analyst at Gartner. “Organizations are scrambling to determine how much cash to pour into generative AI solutions, which products are worth the investment, when to get started and how to mitigate the risks that come with this emerging technology.”
AI Agents Have Evolved From Information to Action
We have come a long way on the AI front since Apple introduced Siri. Today, AI agents are popping up everywhere. These problem-solving workers are the next big step in AI evolution.
Take “Evelyn” from WorkFusion, for example. She pioneered bringing AI agents to the enterprise in 2022. Evelyn is one of several AI Digital Workers who works with banks and financial services organizations, doing a complete, decision-centric job role in financial crime compliance. She reviews sanctions screening alerts, conducts adverse media monitoring, and screens for politically exposed persons without getting tired or bored. According to Deloitte, AI performs best within a well-defined scope with specific job functions.
Banks looking to automate the time-consuming, error-prone tasks associated with the Know Your Customer (KYC) due diligence process, can “hire” Evelyn to reduce their chances of doing business with risky clients. Built on a combination of AI and generative AI, Evelyn can attack an extremely high volume of alerts that needs to be reviewed, dispositioned and investigated for anti-money laundering and sanctions compliance — reviewing thousands of alerts daily.
What’s ahead are AI agents that are not just algorithms, but digital colleagues complete with names, faces and even social media accounts. Having a human touch helps create a more comfortable working relationship between people and AI, making it easier to integrate them into daily operations.
The rise of AI agents marks a turning point in how we think about AI in business. The future of work isn’t just about using AI — it’s about embracing AI agents that can work side-by-side with humans, taking on tasks and making decisions that free employees to focus on more strategic work. According to the McKinsey article, “Even in these earliest of days, it’s not hard to envision the expansive opportunities this new generation of virtual colleagues could potentially unleash.”
