How Artificial Intelligence will Transform the way we Work?
Every industrial revolution has brought about new ways of doing things. Just think of the influence computers and digital technology (the third industrial revolution) have had on how we go about our daily lives. Artificial Intelligence (AI) powered custom software development is getting so data-driven that it is getting more accurate and surpassing human intelligence.
According to a 2019 study by Gartner, the number of businesses that opted for artificially intelligent alternatives rose by a notable 270% in just 4 years and Fortune Business Insights suggest that the global AI market is estimated to surpass $267 billion by 2027.
This is a huge paradigm shift in comparison with previous industrial revolutions. We are dealing with enormous transformations that will be witnessed in the next decade or two.
How Artificial Intelligence will Change the way Humans work?
Routine tasks will become more Automated
Smart robots are proving to be beneficial in this aspect. Integrating Machine Learning (ML) & Deep Learning helps machines store big data and analyze it to improve the outcome that assists repetitive tasks.
Big retail outlets such as Amazon, eBay, Walmart, and Alibaba are already reaping the benefits of Artificial Intelligence by using AI-powered robots in their daily operations. ML algorithms inspired by how the human brain works, are aiding repetitive tasks & process automation. This narrative makes sense too and major industries and jobs will enjoy the benefits of Artificial Intelligence in near future.
To decode the impact of artificial intelligence, Price Waterhouse Coopers surveyed around 200,000 jobs in over 29 countries and concluded:
- By the early 2020s, smart machines can replace of 3% human jobs.
- This percentage will rise to a staggering 20% by the late 2020s.
- By the mid-2030s, artificial intelligence will replace 30% of manual jobs.
- With workforce with lower education, this percentage will rise to 44%.
These figures support the future of artificial intelligence but are startling for the human workforce. However, there is a positive side to it as well. The same study found that while there is no denying the fact that smart tech will replace many existing jobs, it will also give rise to the demand for new skills. It is forecasted that artificial intelligence, robotics, and process automation will add a whopping $15 trillion to the global economy by 2030.
Most of the jobs taken over by AI, to be honest, are not best suited for humans because they find iterative jobs monotonous and less-exciting. Machines, on the other hand, are excellent at managing mundane duties and allow humans to invest valuable time and efforts on the creative side of it. This brings us to our second point.
Artificially Intelligent system is better at handling Repetitive tasks compared to Humans
When iterative tasks are automated, humans will be able to focus on mentally tasking jobs, that require creativity and human abilities such as empathy, problem-solving, and interpersonal skills. All aspects at which humans are better than machines. Simply put, the jobs of the future will focus more on human skills.
According to Deloitte, this scenario will give birth to new job opportunities such as:
- Standard jobs: The emphasis here will be on standardized duties that do not require specific skills.
- Hybrid jobs: This will be an amalgamation of technical & soft skills.
- Super jobs: This category requires people with multiple skill levels. Here, technology will be used to augment the scope of work to perform jobs that require both special & soft skills.
It will bring a Change in Employee Experience in Non-tech Companies too
When talking about the future of AI, change in employee experience is another important element. For one thing, Robots & Cobots (collaborative robots) will be present in almost all workplaces in some form and especially in manufacturing and warehousing-related jobs.
Workers will have to get comfortable working with AI-driven robots. From how people are hired to how they progress on the job, to their everyday official activities, artificial intelligence will become an industry staple when it comes to workers’ everyday official activities.
Just like we got used to writing emails and collaborating with colleagues on Slack, Zoom, and Microsoft Teams, working with AI-powered tools will also become second nature. These tools will assist workers in streamlining workflow and make informed decisions to enhance productivity.
Advances in AI and ML-driven custom software development will result in the emergence of new tools that will carry out mundane administrative duties like scheduling meetings and payroll management.
Intelligent software will also be able to track employee performance and notify when someone is facing difficulties or not performing specific tasks according to the programmed guidelines. This will not only allow workers to focus on important tasks but also allow them to work remotely. A trend that is already becoming quite popular due to the COVID-19 pandemic.
The Future of AI — Closing Words
Be it Fintech, AI-powered healthcare, smart eCommerce, e-learning, or food and grocery delivery apps, artificial intelligence is going to transform the way business operations are performed. Rather than fearing these advances in technology, we should embrace this new normal.
Humans have to come to terms with the opportunities AI software is providing to make our lives and businesses easier. Now, this will not be easy and will require something of a cultural shift but in the end, logical reasoning will prevail and organizations will reap the benefits of the AI revolution.
