Is AI On The Brink Of Changing Business Forever?
From marketing , IT and HR to customer experience and even finance , artificial …
From marketing, IT, and HR to customer experience and even finance, artificial intelligence (AI) seems destined to profoundly impact all aspects of business.
Its promise: less human error and more time for creativity due to the elimination of mundane tasks and endless virtual assistance. While there are certainly some fine examples of AI at work today- Alexa, Nest, and Amazon.com itself. Though the technology’s overall impact won’t be fully realized for another three to five years, a time frame during which some predict machines will approach human abilities.
“70% of companies believe the greatest disruption by 2020 will be the business implications of AI in every division: whether that’s in marketing, customer service or human resources.”
AI technologies have emerged as transformative tools affecting all industries, business functions, and the interaction between people and computers. The business implications of AI are spreading across almost all areas of business. In light of this, it’s essential for business leaders to become more familiar with existing and emerging technologies in order to prepare for the inevitable implications for leadership and management.
Is Artificial Intelligence killing jobs?
Although the media often gives the impression AI will lead to robots replacing all human workers, it’s more likely current career paths, industries and even the day-to-day tasks of your job will evolve.
“…..in fact, 35% of the skills you need to do your job will have changed by the year 2020.”
Does AI have the power to automate you?
Recently, there has been a lot of talk around AI automating humans and disrupting millions of jobs. As of now, machines are good at tasks that involve Big Data and a great amount of iteration. Machines don’t have intuition and can’t match humans’ ability to take decisions in tricky situations.
Example- machines can analyze huge amounts of data far more accurately and quickly than a human can, but the final decision that a Data Scientist is always a mix of data and intuition, which comes with experience.
AI has been surrounded by quite a lot of controversy. On one hand, companies (not only limited to tech giants) are investing millions in AI research and development. On the other hand, Stephen Hawking has voiced his concern that AI could be the end of mankind. Elon Musk & Bill Gates have also agreed with this.
However, in the debate of AI being a boon or a bane, we believe boon will always win. This isn’t because we are being ignorant about the catastrophic situations that will unfold if super intelligence is achieved. It is because steps are already being taken to prevent the potential hazards AI may bring along with it. AI’s progress will continue only if it is in alignment with general human interest. So, don’t fear it! Go ahead and just enjoy the revolution.
So which camp do you belong to? The pro-AI camp or the AI-against one? Do you think AI will disrupt more jobs than it actually creates? So, if you have not started thinking yet in this dimension do right now!
By: Lareeb Mussawir