We all know how Internet
of Things (IoT) has made it possible to turn everyday devices into sources
of raw data for analysis in order to generate business insight. It has also
been witnessed that Artificial Intelligence
(AI) is making analytics more productive and efficient at workplaces too.
Enterprises expect much
more data to be generated in the years to come as compared to the data
generated today.
It is believed that AI is now beginning to enter workplaces
and corporate organizations, and this change has made leaders revisit their
business processes and functions. These days, startups are adopting AI
technology to reduce manpower, increase work efficiency and save time. AI can generate insights, provide
remote and virtual assistance, and analyze unstructured data generated by
everyday devices. Specialists predict that more than 62 per cent enterprises
would start implementing AI applications in some way by the end of 2018 and a
major reason for this are a lot of benefits AI has provided to the enterprises.
According to a survey by Demand
base,
about 80 per cent of decision makers predict that AI will revolutionize
marketing by 2020.
AI along with neural networks decipher discrete
data in no time, and make sure a perfect solution is placed at the decision
maker’s fingertips. The data being generated is continuously being updated,
which also means the machine learning models too will be updated at regular
intervals. The enterprises would be able to access up-to-date information – breakthrough
insights -- that can be useful for rapidly changing business environments. Here
are three most important ways in which AI benefits workplaces:
1.
Faster decision-making with more confidence: What if something goes wrong with the
manufacturing plant at your industry, what would you fix first? I am sure most
of the employees working on that plant would be clueless. In such cases, AI helps
the maintenance team to decide what to fix first with confidence, as AI would automate
and line up the decision-making processes for the maintenance team.
2.
Accessing insights from Big Data: An exciting opportunity after implementing AI in your workplace is AI’s ability to
recognize and understand patterns in Big Data that humans cannot.
3.
Protecting sensitive data: AI
enables elimination of human error which in turn helps improve output quality
and strengthen cyber security.
A noticeable difference has been seen in the
roles of employees, after deployment of AI.
More attention is given on managing and on implementing strategic initiatives
and at the same time analytic tools automate and scale data to facilitate
better decision-making.
Let’s
look at how AI is improvising work landscape:
·
Creating new technology related jobs: A report by Indeed predicts that there is an increase in demand
for workers with AI skills over the last few years. When there's shortage of
job seekers who can meet that need, it makes the skills more valuable for those
who would possess them.
·
Using machine learning to reduce busy work: By enabling automation to complete their mission critical
tasks, employees can free up their time for other essential tasks. According to
a Digital Ocean report, 26 per cent of developers are using AI-based tools in their
work processes, and about 81 per cent are keen in getting educated about the automated
tools.
·
Automation helps prevent workplace injuries: A study by Injury Claim Coach predicts a lot of damages can
be reduced by implementing automation at workplaces. The same study also found
that in 2016 around 5,190 workers perished due to workplace injuries. About 14
per cent automation could be saving lives as high as approximately 3,500 per
year by end of 2030. Hence, instead of thinking how AI is taking jobs away, it’s
time to think how many hazardous jobs humans won't need to do in the days to
come.
