Artificial intelligence (AI) is used to describe a variety of technologies designed to mimic human cognition. It has the ability to learn, solve problems, and achieve specific goals by interpreting external data.
We have seen a marked rise in AI tech being used to create chat bots, interactive voice and video tech, and assisting service professionals in many industries to deliver better customer experiences. In just the last 4 years, there has been a 270% increase in the use of AI in companies according to a Gartner survey. So what does this mean for the future of the workforce? One of the most pressing questions asked about it is…
Am I Going To Lose My Job To Technology?
With the increased traction of AI in pretty much all sectors, many people are worried that they will be replaced. According to a Future of the Internet survey nearly 48% of the workforce will be replaced by robotics and some kind of software automation. In fact, it is predicted that almost 73 million U.S. jobs will disappear in the next 20 years according to McKinsey Global Institute. Okay, so it seems like this post is filled with doom and gloom but that’s not the case!
It may look like Artificial Intelligence is angling for our job when actually it’s revolutionizing HOW we work. 67% of executives believe that AI will help humans and machines work together to leverage their own strengths. The use of AI embedded in analytics and other marketing software will help data analysts free up their time to focus on their business priorities instead of being burdened by manual processes like lead scoring, detecting anomalies, or reporting. Not only that, but there is a huge misconception regarding AI. We often believe that such specialized technology requires no human intervention. That’s not true! As much as we need Artificial Intelligence technology, it needs us too. Here’s how:
AI-Human hybrid work
Playing To Our Strengths
Currently, in many law firms, there is a hybrid man-machine approach to work. The software is able to assess a much larger volume of legal documents and perform many tedious manual tasks very easily. Whereas human strength lies in understanding the relative legal relevance of a case and knowing how to craft an argument around it which AI software cannot do well. This approach allows companies to leverage the best skills of both parties to ensure that nothing gets missed.
The Human Touch
When it comes to innovation and insight, there are a lot of human characteristics that help us move forward. First is our emotional intelligence which allows us to gain insight into the motivations behind consumer trends. No matter how sophisticated, AI algorithms still haven’t been able to understand this at the human level. Secondly, our brain’s capacity for abstract thinking and creativity helps us to make inferences and extrapolations in a constantly changing environment.
Machine learning still struggles to apply knowledge when making decisions, planning, or performing creative tasks. It is tough for such tech to adapt to dynamic environments simply because they lack common sense (just a PSA, some humans lack this too!).
What Does This Mean?
AI tech does all the repetitive and mindless tasks to save employees from a lot of extra effort. Machine learning can also mine and comb through data very quickly. But these machines still require human influence to interpret their results and describe what it all truly means.
So Where Do We Go From Here?
The global AI software market is estimated to grow by 154 percent in just a few years. It may even contribute to 14.5 percent of the GDP in North America according to Tractica. Following this trend, by 2021 it is estimated that nearly 80% of emerging technologies will have foundations in Artificial Intelligence. This means that organizations should use AI-driven software to coach and optimize their workforce instead of replacing them.
A global CEO survey pointed to the fact that 77% of large companies are investing in AI technologies and many intend to do so over the next three years. With this burst of smart technology, companies must use AI to make data scientists’ lives easier through automation.
After all, we know that machine learning is complex and spectacular but human knowledge adds much-needed context to all the data surrounding us. The human workforce can never be obsolete, it will just adapt and flourish in the changing HYBRID workforce.
Not only is the workforce constantly changing but there are newer inventions and technologies being created to help companies, and, now even the environment. Green technology may just be the energy-efficient solution we have been looking for all along. Why not read this and decide for yourself.