4 Ways AI is Changing the Future of Work, Today

4 Ways AI Is Changing the Future of Work, Today

The past five years were a time of foundation building for artificial intelligence (AI). During this period, the technology’s base structure formed, and changes were done to make AI more responsible, efficient, and cost-effective. In 2022, the whole world started seeing better AI technology.

AI is impacting the work landscape in several ways. Through the advent of tools like ChatGPT, companies have seen improvements in finding the right talents to work on specific projects, enhancing workers’ ability to execute tasks with greater efficiency, and boosting productivity and profitability. Here are three:

1)    AI has also changed the top-of-funnel process for finding new labor, transforming the recruitment process from a laborious, manual task to a quick, effective one that conserves resources and time. New AI-powered recruitment tools make automating job matching, resume parsing, and candidate screening easier. These tools employ algorithms to examine candidate data and offer insights that aid recruiters in making better and more effective hiring choices.

2)    The future of work is also changing due to AI's transformation of how work is performed. AI-powered tools are automating many routine tasks, freeing workers to focus on higher-level tasks requiring human expertise. AI-powered chatbots, for instance, can handle simple customer service requests, freeing up customer service representatives to work on more complicated problems. AI-driven tools can also examine data to find patterns and trends, assisting businesses in making better decisions. Hootsuite and Emplifi, two AI-powered tools, analyze social media data to help businesses better understand their customers and modify their marketing strategies.

3)    New job opportunities are another way that AI will affect how people will work. Data science, machine learning, and AI engineering are just a few of the professions that AI has given rise to. A particular set of abilities and knowledge that weren't previously in demand are needed for these roles. For instance, a business like Boston Dynamics is utilizing AI to develop robots that can carry out tasks formerly performed by humans. For engineers with expertise in robotics and AI, this has resulted in the creation of new jobs.

4)    Finally, a change in how employees are trained has resulted from how AI will affect hiring and the future of work. Employees must receive training to coexist with AI systems as AI becomes more commonplace in the workplace. Different skills than those needed for conventional training methods are needed for this. Businesses like Google have developed training programs for working with AI systems.

However, as social awareness of AI continues to increase, some experts say the ramifications of this technology may come to a head. The World Economic Forum highlights three predictions that people need to take note of to enable continued value from AI growth in 2023 and beyond:

●     Heightened awareness and ethical concerns. Due to the expanding use of the technology, one can expect to see organizations auditing their systems and local governments working to ensure AI bias does not negatively impact their subordinates.

●     Increased regulatory pressure. Increased AI regulation will require companies to invest in systems with model governance to continue to focus on technological innovation and have peace of mind that their systems comply with legal and regulatory obligations.

●     Further investments in the AI space. AI investments will have continued momentum, especially among businesses most impacted by economic and supply chain disruptions. Some investments will progress, while some AI trends will continue to be experimental.

As we look to the year ahead, these predictions will be imperative to the overall success of AI. Even so, businesses focusing on building an AI mentality and integrating AI into their operations will be better suited to handle market uncertainty and drive long-term success.

Trending Topics:

●     Artificial intelligence (AI) is still expanding despite being poised to change the business landscape—from AIs in marketing to tailored therapy and medication research. This Forbes article highlights five of the AI predictions for the near future.

●     Many companies use AI nowadays to make big business moves or decisions. However, a Southern Illinois University professor warns against using this tool all the time because its output can only be as good as the data it receives and processes.

●     According to Microsoft, AI is transforming the function and future of the finance industry as many accountants are increasingly becoming innovators. This means as industry professionals strive for growth in their careers, they are compelled to add more value beyond their traditional responsibilities.

●     AI tools like ChatGPT can be used to benefit students. It can generate essay prompts and help with better grammar and language usage. However, if used improperly, ChatGPT may do more harm to students than good and may compel educators to ban its use in schools entirely.

●     Various tech companies have recently launched their own AI tools. With the proliferation of this type of technology, some experts say the public has to be more careful, as innovation also comes with risks. The warning comes as some have raised concerns about the potential threats of conversational AI.

Today’s issue was guest authored by MBO's Chief Platform and Digital Transformation Officer Flavio Palaci .