Artificial Intelligence and the effect it will have on Jobs

It is a common belief that the introduction of Artificial Intelligence will leave many people all over the world jobless. However, advancement in technology should generate more job opportunities.

Yes, a lot of people in certain positions will be replaced by automation, but experts in this field say there is no need to worry. On the horizon, they foresee the 4th industrial revolution. One that will see technology creating occupational shifts allowing for more job opportunities.

One report suggests that over 5000 000 jobs will be threatened for over seven years due to smart robots. Another forecast is the impact on the banking sector, with two-thirds of jobs being replaced by robots. Some belief a world with humans not able to compete economically is implausible.

Think of it this way, who will be needed in the mass production, development, design, and coding of such intelligence. The idea of artificial intelligence is not to replace people but to assist them in providing a higher level of labour. It is believed that more companies will pop up like on-demand digital companies and these businesses will need humans as well as robots to perform at higher skill levels.

Unemployment levels are currently approximately 27% in South Africa. A smart move for those in school, deciding on a direction of study would be to consider a career in IT strongly.

How AI will and is reshaping the workforce

  • The hiring process – recruiters and HR departments are using AI-backed tools to perfect the hiring process for all involved.
  • Administrative Tasks – there are AI, personal assistants, to schedule, reschedule, shuffle, and cancel meetings. A rather tedious job that consumes a lot of precious time, when trying to organise this yourself.
  • Internal communications – some AI’s translate during conference calls allowing people of different languages to speak to and understand each other.
  • Customer Service, Marketing and Sales – I’m sure you have seen the speech bubble of some chatbots pop up on individual sites while scrolling the net, these AI-powered bots learn from real people allowing them to answer questions as accurately as if you were chatting to an actual customer service rep.
  • Training – artificial intelligence training tools “observe” how employees execute tasks. These can then coach new employees or suggest better ways to do things for current employees.
  • Analysis of data – Artificial Intelligence-powered programs can analyse and make sense of collected data and display or report it in a way that is easy to understand. This aids in and speeds up decision making.
  • Security – banks all over the world are making use of AI to detect activity on your accounts that seem fraudulent or out of the ordinary. Sometimes they know before you do that someone has tried to use your card in other areas of the world.
  • Productivity – this is probably one section where AI is making the most impact. With AI completing the mundane tasks that use to be imposed on workers, their time is freed up to complete the essential functions and grow their ideas.