The Impact of AI-Driven Creative Destruction on Bid Writing
While creative destruction has potential disadvantages, such as job losses, it can ultimately lead to economic growth and improved living standards. Bid writers must adapt to this new era of technology, leveraging the power of generative AI to increase their volume of bids and make more of their skills.
In 1942, economist Joseph Schumpeter coined the term ‘creative destruction’ to explain how new technologies, businesses and ideas can disrupt their predecessors. This concept has been widely used to explain the process of innovation and technological change. In recent years, Artificial Intelligence (AI) has been at the forefront of such creative destruction, as AI rapidly changes the way we live, work, and interact with one another.
By making certain tasks easier and more efficient, AI is transforming the economy. By aiding in diagnosis, treatment planning and drug discovery, AI is revolutionising healthcare: AI-driven systems are able to process large amounts of data quickly and accurately, allowing for more precise diagnosis and treatments. By completing more mundane tasks, AI is reducing business costs, and increasing productivity; through predictive analytics, AI is helping businesses interact better with customers through personalised experiences.
In this vein, AutogenAI has created a generative AI tool that will revolutionise the way businesses create bids and tenders. When prompted correctly, this technology can generate documents quickly and accurately, reducing the time and effort required for manual bid writing. Additionally, generative AI can help identify potential issues or opportunities in bids that may have otherwise gone overlooked. By leveraging this power, businesses can create more competitive bids and tenders, increasing their chances of success, and freeing funds to direct resources to frontline teams. For providers of government services, this will increase the quality of their provision thus benefiting the taxpayer and wider society. Moreover, as AI innovation becomes more widespread, more organisations will be able to compete for opportunities resulting in greater equality in the bidding process.
Of course, creative destruction has potential disadvantages too. It cannot be denied that the ‘gale’, to use Schumpeter’s term, of creative destruction, can lead to job losses. As new technologies and processes are developed, their older counterparts and those who performed them become obsolete. Similarly, businesses that fail to adapt can perish, fast – Blockbuster being the often-used example.
This is defended by the assertion that creative destruction leads to economic growth and continued prosperity by creating new markets for companies – and new, better paid white-collar jobs with better working conditions than the jobs they replace. Schumpeter, the arch-defender of capitalism and its ability to improve living standards, actually predicted that creative destruction would ultimately lead to a form of socialism or corporatism as new technology leads to society becoming increasingly bureaucratised. Scholars and critics (dependent on their political position) are divided on whether this prediction has proved correct. But the reliance on government contracts of the largest companies in the UK (and their supply chains) cannot be denied. In 2015-18, for example, 61% of the FTSE 100 was active in public procurement, and 19% won more than £30m of contract value.
Will bid writing as a profession become obsolete?
Anyone who has been involved in a bidding process knows that from the smallest local authority contract to a large central government tender, there are a wide range of variables that must be considered. Writers have to balance complex and often contradictory information from the commissioner with the company's unique selling points, strategic positioning, tone of voice, the contract value and much more.
Generative AI will support the bid and proposal production process by automating both challenging tasks like idea generation, coherence and structure, as well as more mundane functions like turning paragraphs into bullet points, reducing word or character count, and ensuring the text is written in the active voice.
Periods of creative destruction can last years or even decades. The AI revolution began with Alan Turing during World War II, followed by incremental improvements that led to deep learning in 2012. This solved computer vision problems with convolutional neural networks (CNNs), and while the world was locked down, OpenAI was finalising the tech that would be launched as GPT-3 in June 2020.
As generative AI continues to develop, the role of the bid writer will evolve accordingly. While the ability to write fluently and effectively remains necessary, it will become less important than the ability to effectively prompt the AI. While still a critical skill, synthesising large amounts of text and data has been made easier with the emergence of semantic searching technology, which allows bid writers to quickly locate company data and external sources based on meaning, thus streamlining the research and writing process.
As the world shifts towards a new era of technology, bid writers must adapt. AutogenAI is leading the way in harnessing the creative destruction brought about by AI, allowing companies and their writers to become more productive and efficient whilst ultimately driving the economy forward. With AutogenAI's constantly evolving product, bid writers can now increase their volume of bids and make more of their skills – all while benefiting from reduced time spent on writing.
To book a demo please contact firstname.lastname@example.org