Countries are adapting their workforces, economies and business models, population and society, and even culture to be ready for the new jobs Artificial Intelligence (AI) will help to create —and not stealing them!. Companies across all industries are viewing AI as a facilitator for their future operations; nowadays top leaders and executives are rethinking their business models too.
The Leadership in the Age of AI survey by Infosys concluded Artificial Intelligence has currently gone beyond disruption and experimentation by now delivering benefits to the business: almost 900 of the thousand interviewed C-level executives (at large organizations across seven markets) have middle- to late-stage AI-based deployments for helping in their day-to-day business operation. The survey also found more than 70% of the business and IT leaders agreed their AI implementations have already transformed the way of doing business and, almost 90% of them, have measurable benefits already. More than half of the executives in telecom, banking & insurance, and retail sectors recognized AI as a disruptive force and acting as it is, will threat companies that do not keep up against agile competitors. By extension, AI is a job-killer, but at the same time, Artificial Intelligence helps forward-looking business to develop new and brand ways of customer-oriented thinking.
The Predicts 2018: AI and the Future of Work report by the global research firm Gartner advised Artificial Intelligence might create more jobs than those expected to eliminate. By 2020 it will produce 2.3 Million of highly skilled and management positions, and even entry-level and low-skilled variety jobs while wiping out 1.8 Million of low- and middle-level positions. This trend will affect jobs differently by industry: the public sector, healthcare, and education might gain most of the new jobs, while manufacturing and transportation would lose many of the current ones. The research and advisory company forecasted AI-related job creation would cross into positive territory by reaching 2 million net-new jobs in 2025.
As Artificial Intelligence is becoming critical for accelerating business growth, both executives and leaders are effectively incorporating AI into business processes not for replacing employees but for empowering and assisting them to work smarter and be more productive —and most of the employees are excited and ready for the AI revolution. This trend is confirmed by the A Trillion-Dollar Boost: The Economic Impact of AI on Customer Relationship Management recent white paper published by the global market intelligence firm IDC, suggesting almost 30% of companies have already adopted AI in their business models and more than 40% will include some form of it by 2020.
Artificial Intelligence is giving organizations more than just automation for routines or inefficient processes; it is causing innovation and differentiation by learning from experience. Companies are using AI to both enhance existing solutions or build new business-critical processes and services tailored to their customers. AI has given different tools to automate redundant tasks, detect and analyze hidden patterns in data, and empower revolutionary insights to make human life better.