A buzzword, a hot topic, a revolutionary technology, Artificial Intelligence is in the business discussions and tech headlines today. With so many innovations in the field and Researchers and innovators always searching for new, easy and effective solutions, Artificial Intelligence is adopted by many of the businesses and sectors today for improving their growth and achieving their targets.
Companies are investing huge amounts to adapt AI into their businesses to help them increase their operational efficiency, to have more revenue generated and have outstanding growth in businesses. "The key factors driving the increase in adoption of Artificial Intelligence (AI) are the growth in Analytics, Big Data, and Cloud"- Anant Maheshwari, President, Microsoft India. With the quintillions of Data being created every day, it is required to generate useful insights from Data to help businesses grow and maintain a good relationship with the customers.
According to IDC, global spending on AI and cognitive technologies will hit $52.2 billion.
There are many perspectives related to the hype of Artificial Intelligence. Some believe that the rise of AI in this manner will take away their jobs and will make them jobless in the future. With machines having more precision than humans and accurate in some dealings and tasks it is always a thought that creates fear among many of the potential employees. Fear of rising in unemployment in the future due to the involvement of machines into the workforce seems to be a major problem for the employees today.
But it is just a lack of awareness and a negative perception for the majority of people who are quite positive in this respect. They feel that using AI in the businesses will not affect their job and will not make them jobless, instead the use of AI will create further more opportunities for the skilled workforce, which resembles somewhat with my opinion.
Only the works that are repetitive in tasks and require much precision and complexity will be replaced by intelligent machines and software which is definitely productive for the organization. The productivity of the organization will rise when the human workforce will be designated to do meaningful and productive works while repetitive and complex tasks are to be handled by machines.
To find a deeper realization let us dig a bit deeper and ask a simple question to ourselves now- On What do the businesses in the 21st century depend? Are we not living in a digital technological world? Are most of the businesses done online today? If we will answer a little by little and give ourselves the thought of living in this technological data-driven digital world we will come to know the importance of adopting AI in the workplace. Without adopting the latest technologies businesses would cease to grow. For any business to survive in the market today it is essential for it to adopt the latest technology, use it to generate revenue for the business and deliver high value to its customers.
A PwC report estimates that Artificial Intelligence could add $15.7 trillion to the global economy by 2030 which is significant and obviously beneficial to you as an employee and as a citizen of a country.
Yes, it is a fact that technology will replace us in some end showing us its greater performance and power, but it will definitely create many more opportunities at the other ends which are yet to be explored by us. The more we will adopt it the more we will find those areas.