Out of all the state of the art technologies poised to impact the future of work as a whole, research shows artificial intelligence will be among the top 5 most transformational influencers. But we’re not talking about decades or centuries. As we speak, AI tech already affects our day to day lives is numerous ways. Examples range from simple sales AI chatbots meant to enhance customer interaction all the way to collaborative banking AI systems that use complex anti-laundering algorithms.
Many leading and globally renowned companies are already harnessing the power of AI to make faster, informed decisions and increase overall efficiency on different operational processes. However, these applications will seem mundane compared to the impact expected over the next few years. This is all thanks to rapid advancements in deep learning which are evolving AI in favorable ways. And the more AI influences customer expectations, the greater its impact on the future of work.
One major aspect of this advanced AI is that it will unlock new chances for humans and AI powered machines to work together more closely for improved productivity. We’re also likely to see business artificial intelligence employed by venture of all sizes – not just the industry giants. Research from Accenture shows that AI could actually double annual economic growth rates by as early as 2035; with labor productivity projected to shoot as high as 40 percent.
Working in the AI Age
In our piece titled Business AI: Assistant or Replacement, we looked at how successful integration of artificial intelligence is more than just about automating your processes. Much of it is about workforce empowerment and upskilling. For more details check out the article above. In this segment, we’ll be focusing on what these rapid AI advancements will mean for the future workforce. So, what exactly does the future look like for workers in this new era of AI reliance?
1: High Productivity Boosts in Future Workforce
At the most general level, AIs will allow humans to be far more productive than before. In sales for example, certain AI systems can continually analyze troves of data to comprehend customer priorities, draw patterns and even predict their needs. If you’re a company that wants to maintain quick and regular communication with your customers, you’ll definitely want to take advantage of such systems.
Either way, deploying AI will naturally free your workforce to focus on operations that require more complex, human abilities like creativity. For example, it could take a multinational company’s sales and marketing team days or weeks to analyze large amounts of data to even begin to comprehend a target’s psychological dynamics. But with a digital assistant to analyze the data for you, any company could have actionable insight in a matter of hours.
2: Enhanced and Upskilled Workforce
To guarantee a silky smooth path to AI success, businesses need to change the way their workers view AI. And as detailed in our precious business AI piece, it’s all about fostering an open mind set so that your sales team embraces AI instead of fearing it. It’s only by being prepared that companies can reap the full benefits of AI.
It’s extremely important for your entire team to understand that AI is not deployed to displace their jobs. Jim Wilson’s book Human + Machine: Reimagining Work in the AI Age talks about how this new AI era will be marked by broader levels of employment than ever before. Sure, machines will take over high volume tasks like calculation, data analysis and routine work. But abstract tasks involving creativity, judgment, empathy, inspiration and other human aspects still require organic intelligence.
3: New and Broader Job Markets for the ‘Missing Middle’
As more and more companies adopt AI, they’ll need to ensure they can also accommodate new skills, talents and job categories that will certainly emerge. More research reveals that a large number of these emergent roles will be taken up by people working in the missing middle (a dynamic space where man and machine collaborate in total symbiosis exploiting each other’s strength towards one goal).
That said, high level human skills like abstract thinking and creativity will become more valuable to the workforce which will intensify new, related job categories involving the ability to make proper judgment calls and deliver abstract thinking with aspects of emotional intelligence. For instance, highly qualified trainers will be required to teach AI systems how to perform with minimal errors while explainers will be crucial when it comes to explaining the inner workings of complex AI algos to nontechnical staff. Of course, you also need sustainers to ensure the AIs operate properly and maintain responsible use to make our lives easier instead of harder.
To outperform the competition in this AI rich environment, it is of the utmost importance for businesses to start developing upskilling strategies while they still have time. Failure to fill up the ‘missing middle ’could lead to a persistent and harmful shortage of skilled labor in the market.
There’s already plenty of research that shows why businesses which commit to getting their workforce to collaborate with AI have more chances of success and long term viability to survive upcoming AI disruptions across various industries. Join the artificial intelligence bandwagon today with systems like Veloxy Engage and Veloxy Mobile which use AI to provide sales teams with relevant information for their next task depending on factors like where they are at the moment and the context of their current objective.