Artificial intelligence has long caused fear of job loss across many sectors as companies look for ways to cut costs, support workers and become more profitable. But new research suggests that even in STEM-based sectors like cybersecurity, AI simply can't replace some traits found only in humans, such as creativity, intuition and experience. There's no doubt, AI certainly has its place. And most business leaders agree that AI is important to the future success of their company. A recent survey found CEOs believe the benefits of AI include creating better efficiencies (62 percent), helping businesses remain competitive (62 percent), and allowing organizations to gain a better understanding of their customers, according to Ernst and Young.
The future of work is happening now: despite skeptics prophesying growing unemployment rates, AI not only creates new job roles but also changes the employee experience for the better. Assisted with AI tools and analytics, workers no longer have to spend hours (and, consequently, years) on meaningless routines, since they can focus on job aspects that truly bring value. So how will artificial intelligence transform employee experience and enhance employee engagement? Read on to learn how AI contributes to digital workplace transformation. From reducing time-to-hire to automating boring rule-based tasks, AI tools not only increase efficiency but also change employee experience for the better.
More than 90 million workers across Europe (about 40% of the total workforce) will have to develop significant new skills within their current roles in the next ten years, as automation puts 51 million jobs at risk, warns a new report from analyst firm McKinsey. And almost all of today's European workers will face some degree of change as their jobs evolve because of technology. But although the statistics seemingly feed into a common fear of robots taking over our jobs, quick conclusions needn't be drawn: the research also shows that employment growth in other sectors will largely compensate for overall job loss. SEE: An IT pro's guide to robotic process automation (free PDF) (TechRepublic) So much, in fact, that Europe might find itself short of up to six million workers by 2030. As new opportunities emerge in fields like technology, for example, McKinsey anticipates that finding sufficient workers with the required skills to fill the jobs that are being created on the continent will be challenging.
AI is developing at whirlwind rates. While nobody can say for certain how it will impact our work and personal lives, we can make a good few educated guesses. Also, with COVID-19 limiting human interaction in the built environment, advancements in AI and automation are on course to accelerate (providing funding is available, of course). The age-old fear among some of the population is that AI will displace workers, leading to high levels of unemployment. A report by management consulting firm McKinsey shows that between 400 million and 800 million individuals across the globe could be "replaced" by automation and need to find new jobs by 2030.
Perceiving the pandemics' hard reset as a chance to grow stronger, more resilient, and resourceful dominates manufacturers' mindsets who continue to double down on analytics and AI-driven pilots. Combining human experience, insight, and AI techniques, they're discovering new ways to differentiate themselves while driving down costs and protecting margins. And they're all up for the challenge of continuing to grow in tough economic times. Boston Consulting Group's recent study The Rise of the AI-Powered Company in the Postcrisis World found that in the four previous global economic downturns, 14% of companies were able to increase both sales growth and profit margins as the following graphic shows: AI Is Core To Manufacturing's Real-Time Future Real-time monitoring provides many benefits, including troubleshooting production bottlenecks, tracking scrap rates, meeting customer delivery dates, and more. It's an excellent source of contextually relevant data that can be used for training machine learning models.
It is without a doubt that Artificial intelligence is helping ordinary consumers in our everyday life, but the big question is what is the impact going to be on the jobs that were previously done by humans and especially of concern are the manufacturing and technology workers whose careers seem to be the most vulnerable. This article will focus mainly on Software quality assurance/ Testing jobs and broadly on other technology workers (Software developers, support professionals, customer support representatives, and even project managers). Before we understand the impact of artificial intelligence on Quality Assurance jobs, we need to know where we are in the AI journey. Regardless of how much hype there is around AI these days, AI is not a new concept. Ancient Greeks had myths about robots, while Chinese and Egyptians built automatons.
So says the famed quote from Shakespeare's The Tempest, alleging that we can look to what has already happened as an indication of what will happen next. This idea could be interpreted as being rather bleak; are we doomed to repeat the errors of the past until we correct them? We certainly do need to learn and re-learn life lessons--whether in our work, relationships, finances, health, or other areas--in order to grow as people. Zooming out, the same phenomenon exists on a much bigger scale--that of our collective human history. We like to think we're improving as a species, but haven't yet come close to doing away with the conflicts and injustices that plagued our ancestors.
Artificial intelligence is having a significant impact on mainstream business and computing after years of being in the hype cycle. Companies such as Amazon and Netflix have saved billions of dollars a year, and AI is expected to boost the global economy by trillions of dollars over the next several years. Concerns about AI's use remain, however, including security risks and biases it could introduce into hiring and society as a whole as well as bad decisions it might make due to poor underlying data quality. Here's a snapshot of the present and future of AI, told in 11 statistics: That's a 14 percent increase, more than the current economic output of China and India combined, a PwC study projects. Some $6.6 trillion of the boost will come from increased productivity, while $9.1 trillion will arrive as a result of increased economic consumption.