#AI@Work: All Roads Lead to Employment
All roads lead to employment. Every discussion of economic growth, equity and advancement comes back around to “will there be jobs that pay.” AI and automation will enhance productivity, but will they help with income disparity? The effects will be more significant in some fields than others. Half of the jobs in the banking and insurance industries will disappear. The defense industry is certainly impacted. Finance and accounting, as well as healthcare, IT, engineering and government will be transformed. Easier jobs will get easier. Intellectually difficult jobs will increase. Re-education and consistent retraining will enable the agile workplace to change and grow. Learning will be a lifelong journey. In Finland, the Ministry of Economic Affairs and Employment stated that the minimum age for compulsory education should be 65 years of age. We will see gaps in competencies and imbalances in the labor markets. Companies are going to need to step up and provide ongoing education for everyone, not just leaders and the C-suite
AI and intelligent automation continue to disrupt everything. Many areas are being affected: customer care, call centers, document classification, production lines and factory floors. In all of these places humans are currently being replaced by smart robots and algorithms. AI can also eliminate bureaucracies and improve service for everyone. AI has proven very effective in handling monotonous tasks. It is pretty effective at handling even more complex operations like processing multiple signals, complex data streams and acting in real time. An example is autonomous vehicles that can sense the environment then respond and make decisions on the spot.
AI currently exists that can manage customer requests by understanding natural language. AI can resolve issues by estimating customer intent, processing large volumes of data and applying corporate policy. AI can suggest the best action on a particular case and communicate that back to the customer. And yes, AI can turn it over to a human anywhere along the way. That is if it understands that is needed. All this can happen in milliseconds as part of a voice or text conversation. It cuts out human customer service. It minimizes the need for human intervention. It creates a solution that makes the human team smaller and the AI more independent.
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