Future Impact Of Artificial Intelligence – Labor intelligence. It’s everywhere. As Shanhong Liu, a global software industry research expert, wrote in a report for Statista: “AI, which has been the subject of imagination and the main plot of science fiction movies for decades , is no longer fiction, but has become commonplace in everyone’s life, whether people realize it or not.”
It is true, and has been for a long time. As of 2018, nearly 9 in 10 consumers are using at least one of the following six devices, programs or services that include elements of artificial intelligence, according to a Gallup consumer survey.
Future Impact Of Artificial Intelligence
Since then, adoption of all six has increased: 89% of people now use on-demand streaming services, for example, 51% use voice-operated personal assistants on their smartphones, while 69 % of households now have at least one. smart home devices.
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And it’s not just in the consumer world that AI is having an impact. Artificial intelligence is also changing the business landscape. As Liu goes on to explain, “AI refers to the ability of a computer or machine to imitate the competence of the human mind, which often learns from previous experience to understand and respond to language, decisions, and problems. These AI capabilities, such as computer vision and conversational interfaces, have been built into several industry-standard business processes.Industries that are critical to the adoption of AI in organizations include high-tech and telecommunications, financial services and healthcare and pharmaceuticals.
Machine learning, for example, the subset of AI that allows computer systems to learn and improve automatically from experience without being explicitly programmed, is increasingly being used for business purposes. Machine learning algorithms are used by all kinds of companies in almost every industry to process large amounts of data faster and more accurately than humans can achieve.
For example, banks and financial institutions rely on AI/ML systems to automate credit assessment and fraud detection. Cybersecurity teams use machine learning to monitor systems and networks, detect threats and anomalies, and respond to potential attacks. And from chatbots to marketing automation technology and autonomous delivery vehicles, AI is pervasive in every industry and many believe the technology will be bigger than the Internet revolution.
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Today, 50% of companies already use AI in at least one business function, while next year, AI/ML technology will be the leading investment for digital business purposes, according to a new report from IDG.
But how will AI affect the future? How will the growing prevalence of technology change the business and consumer landscape in the coming years?
Let’s take a look at some of the things we can expect from artificial intelligence in the coming years and the transformative impact it will have on our lives, businesses and industries.
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We’ve heard it hundreds of times, but is it true? Well, it depends on the nature of the job in question and how far into the future we are looking.
In a 2020 Statista report, 54% of business and HR leaders worldwide said AI will have an impact on the nature of work in their organizations over the next three years, although they believe the number of jobs will remain the same. However, 25% believe AI will reduce employment, while 12% believe AI will increase it.
Looking ahead, a report from the World Economic Forum (WEF) shows that the adoption of new technologies by companies will change tasks, jobs and skills by 2025. 43% of companies surveyed indicated that they will reduce its workforce because of technology. and AI integration, compared to 34% who plan to expand.
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Thus, employers expect that by 2025, the “growing role” (see Figure 22 below) will decrease from 15.4% of the workforce to 9% (down 6.4%). However, emerging professions, that is, those that will be newly enabled by emerging technologies (such as process automation specialists and IoT specialists, for example) will increase from 7.8% to 13.5% (5, 7% growth).
Overall, the WEF estimates that by 2025, 85 million jobs may be displaced due to changes in the division of labor between humans and machines, 97 million new roles more adapted to the new division of labor may emerge between humans, machines. , and algorithms: add 12 million net jobs.
Ultimately, as AI expands, the impact on the labor market will increase, particularly in low-skilled jobs. As author, computer scientist and AI expert Kai-Fu Lee said at a recent conference at Northwestern University: “The bottom 90%, especially the bottom 50% in the world in terms of income or education, will be severely disadvantaged for work commuting […] A simple question to ask is: ‘What is your work routine like?’ And how likely are jobs to be replaced by AI, because AI can, during routine tasks, learn to optimize itself. And the more quantitative, the more objective the work: sorting things into bins, washing dishes, picking up fruit and answering customer service calls – these are repetitive, routine scripted tasks that will be replaced by AI in five, 10 or 15 years.
Impact Of Artificial Intelligence On The Future Of Labor Market
Although science fiction writers and filmmakers like to imagine a dystopian future where superintelligent machines rule the world and dominate or destroy humanity, it’s actually a type of AI (known as artificial general intelligence or AGI) that can do just that. A task may never be created, and will certainly be many, many decades away if so.
A more likely scenario, and one that is already happening in practice, is that humans will harness the incredible power of AI, ML, and deep learning (DL) technologies to save humanity, not destroy it.
For example, as reported in the Dibangun article, in 2015, disease misdiagnosis and medical errors caused 10% of all deaths in the US. Immune to human error, and with the ability to process thousands and thousands of data points faster and more accurately than humans can dream of, AI can predict and diagnose disease more effectively and efficiently than most medical professionals
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A peer-reviewed study last year, written by researchers at Babylon Health and University College London, found that causal machine learning models now outperform the accuracy of diagnoses by human doctors. The study found that the ML model used in the study outperformed 72% of general practitioners when tasked with diagnosing a written test case of a real disease.
Elsewhere, artificial intelligence is being used to speed drug discovery, improve early detection of diseases like cancer and Alzheimer’s, and develop precision medicine that can revolutionize health care until we provide unique and specialized medicines and treatments, as opposed to a single medicine. current models
AI will greatly affect the future of manufacturing. As reported in IT Pro, AI is driving major changes for the manufacturing industry with many use cases for the technology to optimize operations. From predictive and prescriptive machine maintenance (where sensors are used to find equipment breakdowns before they occur and therefore reduce downtime), to reducing waste in the supply chain and predicting what products consumers want or need so they can be sold without delay – AI will have a huge impact on the industry as the technology develops.
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All this will be very useful for manufacturers. In fact, according to McKinsey, companies using AI are witnessing cost savings and revenue growth: 16% of respondents noted a 10-19% decrease in costs and 18% experienced an increase in revenue overall from 6 to 10%.
AI systems also enable predictive analytics, which help address operational challenges and disruptions in the supply chain and workforce. A separate McKinsey report found that AI can improve forecasting accuracy in manufacturing by 10-20%, resulting in a 5% reduction in inventory costs and an increase of 2-3 % of profits.
Speaking to IT Pro, Ian Hughes, director of service solutions at global packaging and food solutions giant Tetra Pak, explained that the company has helped many food and beverage manufacturing customers implement AI in their operations
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“Factory operations are increasingly digitized through the use of software, collecting a vast amount of information that needs to be processed, evaluated and understood,” said Hughes. “AI gives users the opportunity to review all of this disconnected, unstructured data and make sense of it. By analyzing specific data points, such as capacity utilization rates or electricity consumption , manufacturers can drive more agile operations, improve performance while reducing costs and carbon footprint.
He added: “AI has helped manufacturers to be more flexible in their production processes. By using data from the sales funnel, manufacturers can better predict customer needs and therefore
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