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November 22, 2019
As a seasoned AI startup with half a decade of experience, we’ve been involved in numerous discussions about the implications of AI’s growing influence in both the global and business arenas. Although the impact of artificial intelligence is broad, our expertise is mainly in the business sector and it is in this area that we will focus our main focus. There is no doubt that we are in an era where artificial intelligence is significantly shaping our social and professional landscapes.
With this in mind, we thought it timely to revise and republish the article from 2019. Our belief remains unwavering: AI holds the potential to drive transformative change for the better. However, we also consider the difficult questions that arise as AI becomes more deeply entwined with our lives. We would like to explore these issues in future discussions.
While AI is causing widespread job displacement, we are optimistic that AI will be a valuable tool to enhance many professions, not eliminate them. We hope you enjoy this rework, and as always, we welcome your thoughts and input.
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There is a lot of fear surrounding the threat of artificial intelligence disrupting a wide range of jobs (even life as we know it), and there seem to be a lot of good reasons why this will be the case. But there is also no need to panic. Just as the Industrial Revolution destroyed many jobs, it also created a significant number.
This already proves that the same is the case with the evolution of artificial intelligence.
What Makes Artificial Intelligence Obsolete?
For the most part, AI cuts out the middlemen. With user-friendly and AI-powered platforms, consumers can now customize anything to suit their needs and preferences, and personalization data helps marketers reach them.
Consumers and businesses can now meet in the middle with better and better accuracy. Because of this, AI will make low and mid-level positions obsolete. “Learning any task” is a broad category that experts agree will be fully automated within the next ten years.
Machine learning will improve dramatically and bring better efficiency to routine tasks in roles such as insurance underwriting, research and data entry, and most aspects of customer service.
According to Gartner, AI will eliminate 1.8 million jobs but create 2.3 million jobs.
other kind of work
Some sectors will be affected more strongly, sooner – if not already, for example, manufacturing, reducing the “head count” using robot technology – but we can expect big changes in all industries. More than eliminating jobs, AI will create jobs and enhance and complement the jobs that remain.
Changes may even go unnoticed, such as automatically generated reports and e-mail management, but they are happening in various industries and allow management to “step up” and reduce labor costs. We’ve all witnessed the widespread replacement of cashiers—in supermarkets and casinos—by automated technology.
On the other hand, more and more knowledge workers, especially marketing and customer service teams, are incorporating AI into their daily processes for faster, more personalized campaign execution and response.
Every revolution and innovation changed the way business was done, but business went on. This time is no different. Some jobs will change, but there will be more jobs, different jobs.
Artificial intelligence needs human ingenuity. Machine learning still depends on human input. There will always be exceptions to the established rules in AI, and no matter how much data is analyzed, these exceptions require human intervention and refinement.
AI will need monitoring and training. And that’s where human intelligence comes in to make sure AI doesn’t fall. Tasks that control, train and maintain the speed and accuracy we expect from AI will become the new jobs of the new digital age.
adaptation
Companies must focus on the necessary culture change and adapt to the opportunities and threats associated with AI.
abilities? Pioneering and gaining an edge over your competitors through early adoption. The world is always in awe of explorers. Millennials now make up more than 50% of the market, and unlike Gen Z, who were born into this new technology, Millennials remember dial-up, pick up a number card and wait for it to be called, and other outdated, inconvenient, expensive, and inefficient methods of getting the services or goods they want. methods.
They value convenience, value and time efficiency. That’s why they love Uber and AirBnB. Simply using artificial intelligence and personalization to make your customer service faster and better will appeal to your more tech-savvy market.
Sales is no longer transactional, but personal instead, focusing on customer relationships and experiences that AI bots cannot achieve. What companies save on labor should be spent on training and tools to help their teams transition from the old way of working to the new way of working.
The threats are not as widespread if companies and employees want to train and move to different jobs that are being developed with the help of artificial intelligence, for example, accountants or legal secretaries move to consulting or specialized services. using artificial intelligence.
strengthened and strengthened
Yes, using artificial intelligence. Better not Survive regardless AI – there will be jobs strengthened and strengthened by AI. The Bureau of Labor Statistics (BLS) predicts growth for many jobs likely to be affected by AI: accountants, web developers, nutritionists, financial specialists, and more.
These industries will benefit from the data analysis and reporting that AI can provide. Artificial intelligence will take over repetitive and tedious tasks, leaving experts to focus on their customers and business growth.
Judgment and decision-making will still depend on humans, but the steps and processes required to make decisions will be reduced or completely replaced by insights. Result? Friction and human error are removed from value chains. Billions in productivity hours extracted and trillions in business value generated.
According to Kai-fu Lee, artificial intelligence guru and author Artificial Intelligence Superpowers: China, Silicon Valley, and the New World Order Jobs that involve “creating, conceptualizing, complex strategic planning and management, precise hand-eye coordination, interacting with “unfamiliar and unstructured spaces” and feeling or interacting with “sympathetic and empathic” are protected from AI obsolescence.”
Of course. Trial lawyers. Bartenders. Concierges. But even these jobs can be helped by AI. The question is not whether the job is safe, but the capabilities that AI can bring to even those jobs. It’s fun to imagine.
Think of today’s video games. Gamemakers of the 70s and 80s worked alone, easily programming in a house of static and moving pixels. But today’s games, with their beautiful graphics and audio and complex storylines, aim to reach players who hardly need to impress multiple teams, an entire village to complete a single game – and that’s not counting support teams whose jobs span years. Game release.
This is what AI can do and what AI will need: more technology also means more people to execute and implement.
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