  The two-dimensional organic conductor $\alpha$-(BEDT-TTF)$_2$I$_3$ undergoes
a metal-insulator transition at $T_{\rm CO}=135$ K due to electronic charge
ordering. We have conducted time-resolved investigations of its electronic
properties in order to explore the field- and temperature-dependent dynamics.
At a certain threshold field, the system switches from low-conducting to a
high-conducting state, accompanied by a negative differential resistance. Our
time-dependent infrared investigations indicate that close to $T_{\rm CO}$ the
strong electric field pushes the crystal into a metallic state with optical
properties similar to the one for $T>T_{\rm CO}$. Well into the insulating
state, however, at $T=80$ K, the spectral response evidences a completely
different electronically-induced high-conducting state. Applying a two-state
model of hot electrons explains the observations by excitation of charge
carriers with a high mobility. They resemble the Dirac-like charge-carriers
with a linear dispersion of the electronic bands found in
$\alpha$-(BEDT-TTF)$_2$I$_3$ at high-pressure. Extensive numerical simulations
quantitatively reproduce our experimental findings in all details.
