Updated: Aug 26
Data analytics, machine learning, and artificial intelligence are rapidly advancing fields that are quickly becoming a standard part of every major organization. Applying these technologies provides dramatic competitive advantages, insights, and solutions to virtually every field they are deployed. While these data-driven solutions are relatively new, their impact is already being felt globally.
Artificial intelligence can empower industries, but also disrupt them. While the eventual AI takeover will strengthen some industries, it will eliminate others entirely. Ultimately, how your organization adapts to these technologies will determine if you will be included in the new modern age or be left behind as a relic of the past.
The Coming Of Automation
One of the major impacts of the implementation of artificial intelligence is the growing automation of the workforce. While totally eliminating human labor is still predicted to be far off, human workers already have to adapt to the inclusion of artificial intelligence being integrated into their jobs.
On the other side of the coin, the implementation of AI is also predicted to create so many new industries and businesses that the technology will ultimately create more jobs than it eliminates. Already, AI has been used to automate core business functions, analyze data, identify patterns, map trends, and predict future results based on an organization’s data. This shift makes it imperative that organizations prepare for these changes to stay one step ahead of where automation will take them.
Companies have used artificial intelligence to automate customer service interfaces, predictive models in the medical field, self-driving vehicles, cybersecurity tools, e-commerce marketing, and thousands of other fields. However, this technology’s implementation has required a shift in the way jobs function and how human capital is allocated.
Connecting The Human Element
While AI has made rapid advancements in replicating the function of human intelligence, there are still major limitations to what it can do. Specifically, most modern AI applications are designed to only work on specific problems or to focus only on a single task at a time. Often these AI applications can be rigid and cannot think outside of their set parameters. These limitations in current artificial intelligence solutions still largely require a human mind to think outside the box, make judgments, reason abstractly, and interpret the AI’s data into an applicable business solution.
The Future Of Work
As the availability of artificial intelligence slowly expands across business sectors, we can expect the benefits of AI to become an integrated part of our daily lives. This integration will lead to improved innovations, speed, scalability, and many other benefits. For example, organizations will be able to map out how to best apply allocated resources accurately and efficiently manage their projects.
There will be less waste. The implementation of AI also has the power to boost human creativity. By eliminating routine and mundane tasks through automation, AI programs can free up human workers to pursue other high-value jobs.
Artificial intelligence also has the potential to create equity in the workplace by creating opportunities for those with disabilities to unlock their talents further and participate in the workforce. In conclusion, artificial intelligence is a vast and exciting development that stands to have perhaps the greatest impact on our world since the advent of electricity.