Artificial Intelligence is the field of computer science, also called machine intelligence. It enables machines to take decisions or perform tasks like intelligent humans.
AI works by combining large amount of data often called as Big data with fast processing, intelligent algorithms or rules allowing the software to produce useful information or intelligence from various patterns.
Artificial intelligence can be used in many sectors such as transportation, finance, healthcare, banking, fraud detection, security, etc.
- Will AI Reduce The Jobs Or Human Involvement In Workplace?
- Perception of AI’s impact on jobs (Business Leaders and Workers) in 3 years.
- Perception of Demand and Supply of Skills in Asia Pacific by Business Leaders: Today and in 3 years
- What Business Leaders Should Do?
Though AI is in the early stages, but it is one of the fastest growing technology. It is already employed in various leading companies and organizations to tackle the most emerging challenges today the world is facing like climate change etc.
Some Books On AI That You Might Find Interesting:
- Applied Artificial Intelligence: A Handbook For Business Leaders
- Life 3.0: Being Human in the Age of Artificial Intelligence
- Artificial Intelligence: 101 Things You Must Know Today About Our Future
Will AI Reduce The Jobs Or Human Involvement In Workplace?
In the near future AI is going to have a big impact on jobs. Today most of the experts and business leaders are of the view that AI will bring more innovation and help employees to do their jobs better and efficiently by reducing repetitive routine tasks.
AI will create more jobs, but in future employees need to improve their skills and transform themselves as fast and intelligent learners because AI cannot progress without them.
AI technology will require new ways of thinking about skills and knowledge so that they will be fully prepared for sophisticated & critical tasks. World Economic Forum found that AI skills are among the most demanding and fastest growing skills on LinkedIn and saw a massive increase in the last four years.
“Building advanced AI is like launching a rocket. The first challenge is to maximize acceleration, but once it starts picking up speed, you also need to focus on steering.” ___ Jain Tallinn
Few business leaders and experts do believe that AI technology will replace jobs & it will be so hard for employees to adapt to this advance technology.
Let’s analyze what Microsoft and IDC Asia Pacific Surveyed Samples say about AI’s impact on jobs & demand and supply of skills.
Perception of AI’s impact on jobs (Business Leaders and Workers) in 3 years.
- 62% Business Leaders agree that AI will increase jobs.
- 66% Workers agree that AI will increase jobs.
- Only 15% Business Leaders agree that AI will reduce jobs.
- Only 5% Workers agree that AI will reduce jobs.
Perception of Demand and Supply of Skills in Asia Pacific by Business Leaders: Today and in 3 years
- The study takes a very deep look at existing supply and demand for skills and how business leaders expect them to change over time.
- Workers might be surprised to learn that soft skills like adaptability and continuous learning, leadership and managing others, entrepreneurship, and initiative-taking are all valued by employers more than they might expect.
- It found the supply of physical and manual skills, and basic cognitive skills will likely leave behind demand within three years.
- There will be a shortage of workers who have digital and adaptability skills, along with a basic training or knowledge in continuous learning as well as scientific research and development.
What Business Leaders Should Do?
- Now it is a big responsibility on Business Leaders to lead with a vision, make workers aware of what is to come and what skills they are required to adapt to this new technology.
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