AI is not just the future; and it is the present. Today, the metaverse has arrived, and the Artificial Intelligence revolution is gaining even more speed, opening up a new world of possibilities. But what does this look like, and what does it mean for the future of work?
What Is Artificial Intelligence?
Artificial Intelligence is the science of making machines with human-like abilities. We are talking about machines that can plan, reason, communicate, and learn.
These machines improve our lives while reducing costs and increasing efficiency and profitability. However, there are also frequent concerns that AI could lead to negative changes, especially in the labor market, as they take over routine, low-level tasks.
There are several different areas of AI, each of which has a profound impact on how we work today and how we will work in the future:
Machine learning
This type of Artificial Intelligence can “learn” by recognizing patterns in data. This is revolutionary because, instead of programming, the software can analyze the data provided to make predictions, create rules, or provide recommendations for action. Deep learning continues this process, reducing human input and allowing larger data sets. He is responsible for some of the latest speech and image recognition advances and natural language processing. However, machine learning is only as good as the data fed into it. For example, the AI output will also be biased if the data is biased. Multiplicative AI systems such as ChatGPT fall under the umbrella of machine learning.
Robotics
Organizations use robots to automate physical tasks remotely or through algorithms or sensors. In addition to the familiar robotic arms on production lines, robots today have many uses, from assisting in surgeries to checking sewers.
Natural language processing
Although computers are brilliant, they are surprisingly difficult to understand, create, and respond to human language. Natural language processing (NLP) corrects this with the help of machine learning. NLP has many applications, from translation, voice recognition, and transcription to extracting information from reports.
What’s The Difference Between Artificial Intelligence and Automation?
Artificial intelligence and automation are terms that are often used interchangeably. They are not the same, although they have the same goal: to help people by doing routine, repetitive tasks. However, while automation involves programming machines to perform tasks, AI refers to machines that automatically learn by recognizing patterns in data.
Is AI the future?
AI is deeply embedded in everyday life and work. Everything from digital personal assistants to smart home appliances, from online shopping to factory robots, is made possible by artificial intelligence. Whether we know it or not, almost all of us use AI in one way or another at home and work.
While some experts have expressed concerns about the rise of artificial intelligence and the lack of regulation around it, it remains clear that AI will shape the future of work.
Artificial Intelligence and Humans Work Together.
How AI and humans will work together is still a work in progress. There are two main challenges when working with AI.
Automation And Job Displacement
Artificial Intelligence ability to automate and manage routine tasks means that some jobs will not require humans, potentially leading to a reduction in the workforce.
According to a Forbes Advisor survey, 77% worry that AI could lead to job losses shortly. McKinsey estimates that advancing AI could displace 400 million employees worldwide.
According to the World Economic Forum’s Future of Works report, 25% of jobs will be affected over the next five years, with around 26 million administrative jobs expected to be lost.
Other industries affected by automation include office administrative support, legal services, architecture and engineering, business operations and finance, management, sales, healthcare, and art and design.
Job Creation And Transformation
Despite concerns about job losses, automation is predicted to create many new jobs. By 2022, 39% of companies reported hiring software engineers, and 35% were hiring data engineers for Artificial Intelligence-related roles. AI is expected to create about 97 million new jobs.
Additionally, for many jobs, AI does not automate all functions—the most common tasks, such as payroll or extracting information from documents. And people are still needed to manage the process and intervene if something goes wrong.
So, rather than replacing persons, AI will work alongside humans to help us work more efficiently and focus on our work’s more creative and enjoyable elements. For example, although AI can be used to make medical diagnoses, treating patients is still the responsibility of doctors and nurses.
AI brings a growing need for people with technology skills, such as programmers, statisticians, data scientists, and analysts, as well as people with creative and emotional intelligence skills – something that AI cannot provide.
The changing world of work
From ChatGPT to the Metaverse, AI is evolving in several areas.
Metaverse: Virtual and augmented reality technology allows you to access the Internet for games, entertainment, and work. Shared virtual spaces will merge with the physical world, revolutionizing collaboration, communication, and workplace learning.
Fraud prevention: By analyzing many transactions, AI can identify fraud trends. It can automatically block suspicious transactions or flag them for further investigation. Humans can also use AI in cybersecurity to identify and block threats.
Chatbots and digital assistants: As NLP evolves, so do chatbots’ capabilities, allowing them to communicate more naturally with users rather than simply answering yes or no questions. This significantly improves the customer experience and frees employees to address the most complex customer requests.
AI in healthcare: The World Health Organization approximates that by 2030, there will be a global shortage of 18 million health workers. AI can partially solve this problem by automating routine tasks, increasing productivity, and, most importantly, giving staff more time to spend with patients. Practitioners already use AI in many healthcare applications, including hospital management, medical diagnostics, and patient-facing applications.
Explainable Artificial Intelligence
AI doesn’t work in a vacuum. The fact that organizations use it to make decisions raises transparency, privacy, fairness, and accountability issues. This is where interpretable artificial intelligence (XAI) comes into play. It aims to make the rationale behind the algorithm precise to people. XAI is also essential for detecting bugs in artificial intelligence.
Artificial Intelligence in HR
Beyond automating routine tasks like payroll, Artificial Intelligence is revolutionizing recruitment. This can cover the lengthy process of filtering profiles. It can review resumes, shortlist candidates, and schedule interviews. This makes the process more efficient, especially at the beginning of the recruitment process, saving enormous time and reducing costs. However, administrations must be aware of the risks of AI bias in recruiting.
Embracing Artificial Intelligence in the Workplace
The widespread use of Artificial Intelligence in companies means significant changes in how people do their jobs. So, how can organizations show employees that AI is a force for positive change?
One way is to emphasize that AI is meant to complement, not replace, human workers. More importantly, since humans will be working alongside AI, it is essential to ensure they have the required technical skills. This includes upskilling and reskilling workers to ensure they can take advantage of all AI opportunities.
Once implemented, you will see the benefits of AI, which include:
Productivity increase: Productivity can improve without disrupting people and resources in routine tasks. According to the Nielsen Norman Group, procreative AI systems increase employee productivity by 66%.
Increased efficiency: AI can perform everyday tasks faster and better than humans. And, of course, unlike human employees, AI-powered services are available 24/7, allowing you to monitor for fraud, answer customer questions, and scan job requests, saving period and capital.
Solving complex problems: Improvements in machine learning mean that Artificial Intelligence can today be used to solve more complicated issues – such as medical diagnostics, reclaiming resources, and improving productivity.
Innovation: Through AI-generated ideas through brainstorming sessions, interactions in the virtual spaces of the metaverse, and the use of AI in the supply chain to appreciate what consumers want (and then make product decisions accordingly), Artificial Intelligence is helping organizations change to succeed.
