When it comes to artificial intelligence (AI), our industry tends to fall into two camps: excited or wary.
But no matter how you feel about AI, it’s coming and it’s important to prepare for it. Why? Because there’s too much financial potential in AI for it not to affect our industry.
But what does that actually mean? Let’s dig in.
What is AI?
According to Encyclopedia Britannica, artificial intelligence (a.k.a., AI) is “the ability of a digital computer or computer-controlled robot to perform tasks commonly associated with intelligent beings.”
AI has been around in different iterations, but we’ll pick it up with OpenAI and its CEO, Sam Altman. Altman created OpenAI and several iterations of GPT, or Generative Pre-trained Transformer. (Think of it as a giant robot brain that’s trained by the internet to generate more information.) Currently, the third version of GPT (GPT-3), released in 2020, is available for free, with the fourth version open to paid members.
The reason why this is gaining buzz now is GPT-3 has the capability to learn.
While this may sound intriguing, AI in its current version tends to be flawed. Why? Because while it can learn, it cannot yet decipher between fake and unstable news on the internet.
Remember, it’s taking information on the internet and trying to piece it together. It can’t yet fact-check itself, so many are finding that GPT is biased by race, gender, and religion, which shouldn’t be too much of a surprise as the internet is arguably biased.
Potential Impact
Many are concerned that AI could drastically diminish our workforce. There are estimates that 40 to 50% of all jobs could be replaced in the next 20 years. That will have an economic impact at large, and if the economy bottoms out, the trickle-down effect will affect our industry. Because if our clients lose their jobs, they can’t afford to sit in our chairs, right?
It’s all circular. We have to be aware of what could happen down the line.
What does AI mean for our industry?
Caption writing is the tip of the iceberg for AI’s impact on us. Let’s break down the three primary areas that Britt predicts will be impacted.
Color specialists
This speciality will most likely be affected the fastest. That doesn’t mean being a color specialist won’t work or the Terminator will be applying your clients’ color. But it does mean that likely the robot brain (which is good at science and math) will master counterbalancing colors, toners, enhancers, and all the different things, so knowing it won’t be beneficial to you.
Have you heard about those smart mirrors that advise people on their skincare? That’s the training wheels version. The adult version that all the color companies are likely racing to be the first on is something like using your smartphone to scan a client’s hair to evaluate gray percentage, natural level, damage, etc., and produce a formula to achieve the desired result.
That means if you’re somebody who has built a clientele based on your exceptional knowledge of color formulation, that will likely become obsolete.
How does that affect you? It essentially levels the playing field. All colorists will be created equal because that expert formulation knowledge will be available to everybody.
Education
The world of education will be radically changed by AI because the only way you’ll know you’re working with a human is to see them in person. If robots can teach the same class as a human educator, it’s going to impact education overall. Because if a brand can scale an entire education platform using robots, it changes the scope of what is possible.
There will still be pioneers, strong voices, and strong leaders who get out ahead of the trends and stay at an innovative level, but the education industry will shift.
Social Media
We are currently in the midst of Web 2.0 and we believe AI will only accelerate it.
Web 1.0 was the internet of the 90s (basic email and websites). Web 2.0 is user-generated content, like Instagram, TikTok, Facebook, etc. These platforms are struggling right now with lots of issues, challenges, and legal repercussions. (Click here to read more.) Web 3.0 will be protected content on the blockchain.
Web 3.0 will be important because people will want to know if what they’re seeing is real (created by a human) or made by AI. As soon as we start questioning whether an Instagram post was made by a human or robot, faith in social media overall will crumble because it only works on vulnerability and authenticity.
There’s a lot of talk in the industry from certain educators about how AI means you no longer have to write your own social media captions.
While this is technically true, think about the cost of this shortcut. As soon as we as marketers start tapping into the universal brain to create unique thoughts and messaging, how unique will it be? Yes, it might be smart and well-written, but at the cost of your authenticity and voice…
In an industry like ours, we can’t recommend it.
Meaning, unless you’re ready to jump ship from social media and build your clientele a different way, be mindful of using AI tools to generate captions.
Dig into Web 3.0 and what it means for the industry in this podcast episode!
The one thing AI won’t disrupt
Being an expert.
Were you expecting that? Listen, at this point, AI is not good at reliably predicting the future, analyzing trends, and coming up with innovative solutions. All it does is make decisions based on facts and history.
Brilliant business people see beyond that, and AI isn’t smart enough to do it.
Love him or hate him, Gary Vaynerchuk was asked about AI. He said that decades ago, farmers were upset when the tractor was invented, but there are still farmers. There are still profitable farms, and those who were not able to farm found other jobs. Meaning that through this evolution, there will be other opportunities. Things will change. It’s inevitable.
Stay adaptable, stay sharp, and do not get complacent. Invest in smart education that will push you forward instead. Don’t stay on the sidelines, skip the hopes and prayers. Now is the time to take your business seriously.
If you want to continue the conversation, join Thriving Stylist Method to hop into the mind-blowing conversations about AI that are happening right now!