RPA and AI undoubtedly create efficiencies, but with those efficiencies comes an added human responsibility: monitoring results and ejecting, if not preventing, biases. It is clear that 2020 will bring forth a tipping point in enterprise adoption of smart automation – artificially intelligent software bots that work with human workers to automate manual, repetitive tasks. Prior to the COVID-19 pandemic, more than half of U.S. businesses were already using this technology in daily operations. As businesses and governments continue to respond to the pandemic and the economic aftermath, automation will be even more pivotal as the pace of maturity accelerates, and the global economy reacts to it. According to the McKinsey Global Institute, automation and advances in artificial intelligence (AI) will lead as many as 375 million workers, or roughly 14 percent of the global workforce, to reskill themselves by 2030 – more applicable than before as industries look to speed their recovery.
The COVID-19 pandemic has accelerated technological advances and the automation of many routine tasks – from contactless cashiers to robots delivering packages. In this environment, many are concerned that artificial intelligence (AI) will drive significant automation and destroy jobs in the coming decades. Just a few decades ago, the internet created similar concerns as it grew. Despite skepticism, the technology created millions of jobs and now comprises 10% of US GDP. Today, AI is poised to create even greater growth in the US and global economies.
Finding the intersection point between the worlds of digital intelligence and human empathy is ... [ ] surely the biggest challenge on the automated road ahead. The world is obviously going through some changeable times. The United Kingdom is about to ride through the (many would argue) uncertain period of post-Brexit'independence' and global geopolitical swings continue to have an impact upon international trade and investment. The technology industry thinks it can help, well, when doesn't it? In particular, the tech business is keen to extol the virtues of Artificial Intelligence (AI), Machine Learning (ML) and Robotic Process Automation (RPA) as key tools to help manage the things that humans shouldn't be troubling themselves with.
Machines and algorithms in the workplace are expected to create 133 million new roles, but cause 75 million jobs to be displaced by 2022 according to a new report from the World Economic Forum (WEF) called "The Future of Jobs 2018." This means that the growth of artificial intelligence could create 58 million net new jobs in the next few years. With this net positive job growth, there is expected to be a major shift in quality, location and permanency for the new roles. And companies are expected to expand the use of contractors doing specialized work and utilize remote staffing. In 2025, machines are expected to perform more current work tasks than humans compared to 71% being performed by humans as of now.
Udemy, the largest online learning source, just published its Udemy for Business 2020 Workplace Learning Trends Report: The Skills of the Future (48 pp., PDF, opt-in). As Forbes noticed, the report claims that it is now key "to prepare workforces for the future of work in an AI-enabled world." The report states that "In the world of finance, investment funds managed by AI and computers account for 35% of America's stock market today," citing a recent article in The Economist, The rise of the financial machines. For their part, in the report, Udemy notes that AI is reshaping the world of work. The organization notes that 65% of the leaders cited that AI and robotics are an important or very important issue in human capital.