Globally, there is a debate about the impact of Artificial Intelligence (AI). Each wave of innovation brings you a fear of job reduction. AI will make human effort redundant. This leads a question – “Is the goal to eliminate jobs or to enhance the quality of jobs?” There is a continuous debate whether there are enough jobs in the country with the fast- paced technological evolution.
Artificial Intelligence (AI):
Artificial Intelligence (AI) is an umbrella term for an array of technologies. It is designed to perform tasks that requires human intelligence. These include machine learning, deep learning, natural language processing, and voice recognition. PricewaterhouseCoopers estimated that AI will increase global GDP by $15.7 trillion. It is a full of 14 percent, by 2030. $957 billion is likely to be accrued to India. AI is penetrating across industries such as healthcare, advertising, transportation, finance, legal, education, and hospitality.
Examples include the human interaction with chatbots on social media platforms. People have some apprehensions about job loss and displacement. So, AI tries solve some of the great problems of mankind. We have several instances of AI driving great advances in healthcare and medicine, manufacturing, and industrial sectors. For instance, AI- powered security tools can downsize the effort required by security experts in maintaining the integrity of IT systems.
AI as An Enabler:
Considering the amount of time and effort required to train a security analyst, AI assistants will act as an enabler with their efficiency of fighting cyber-attacks. AI in collaboration with people will shape the future of work. There will be a future in which automation and service intelligence handle routine tasks. People can focus on the creative, meaningful work that attracted them to their fields in the first place. The purpose of AI will increase productivity and innovation.
AI in “Workplace of the Future”:
In the ‘workplace of the future’, tasks will be assigned based on the collaboration of the ability of humans and non-humans. Analytics and Algorithms of AI will help humans perform better at work. It is important that Intelligent Automation is the future of work. There are certain tasks where humans cannot be replaced or replicated. However, it is only the collaboration of both humans and AI that work better.
With the increase in the application of AI technology, business leaders should consider the benefits of collaboration of AI with humans. This helps to complete complicated tasks in less time. It is important to know that how organisations can leverage AI to create a compelling employee experience. Moving HR and building a strong relationship between HR, IT, marketing, and workforce transformation is quite beyond. Organisations should consider the AI plays in enhancing both employee and customer experience. How the humans and machines work together in the future?
Estimations of Gartner:
Gartner’s latest prediction estimates that one in five workers will have an AI as their co-worker by 2022. AI is set to create new jobs and the workforce of today. It needs to reskill themselves to remain relevant and employable. The significant impact of AI will have the future job roles. The jobs of the future requires renewed skill sets. A key finding of the ‘Future of Jobs in India’s study, commissioned jointly by FICCI and NASSCOM with EY. Almost 9% of India’s 600 million estimated workforce would be deployed in new jobs that do not exist today. 37% would be in jobs that have radically changed skill sets.
With AI, the smarter strategy is to develop the expertise one needs in‐house, either in training, hiring, or both. It is pertinent for companies to find a competitive edge with AI. Countries worldwide, are preparing for this revolution. India should start navigating the early stages of this transformation and embrace technologies to develop the right AI strategy.