Alain Onesti, IT Executive for the recruitment industry and Author of the Book “AI – My New Colleague” examines the Impactful Use of Artificial Intelligence in Digital Transformation Market.
Onesti Says that Artificial intelligence (AI) has the potential to alter the workplace by lowering overhead costs, increasing productivity, and facilitating innovation. Another area where AI technology is expected to have a significant impact is staffing. AI technology will play an increasingly important part in how workers are employed and managed in the future, from more fully assessing candidates to assisting employees in improving their abilities.
Artificial intelligence (AI), which includes digital advancements like machine learning (ML), learning techniques, natural language processing (NLP), and data modeling, is a big part of what drives digital transformation. Each of these technologies aids in the development of intelligent enterprise systems capable of analyzing data, anticipating future events, automating ordinary processes, and reminding us of critical tasks.
“To AI or not to AI” is becoming less of a dilemma for businesses as the century passes. In a recent survey, 50% of companies said they had implemented AI in at least one business function, and 75% said they planned to digitalize their operations by 2025, according to IDC.
Impact of AI in the Workplace
With an increasing number of businesses automating their operations, concerns that artificial intelligence could eliminate jobs are growing. But how would this influence job chances in STEM fields? What will be the most significant impact on the staffing industry?
In his book, Onesti delves deeper into the true influence that AI will have on the development of talent.
- The Use of Highly Competent Resources is Maximized
It’s crucial to remember that technology isn’t a replacement for humans; rather, it’s a tool that helps us all accomplish our jobs more effectively. According to a McKinsey & Company study, while 50 percent of a job’s tasks may be automated, just 5% of employment could be completely replaced by existing technologies.
While many low-level tasks will be replaced by robots, there will be an increase in opportunities for highly qualified individuals. Artificial intelligence can be used to perform more fundamental duties, allowing businesses to spend more money on highly skilled personnel who can make a difference.
So, while some occupations may be lost, new ones requiring high-level, specialized skills will emerge; people and technology will collaborate to create a brighter future for technology, most likely leading to additional opportunities for STEM experts.
- More Leisure Time
It’s no secret that many individuals are pushed to their limits in high-pressure positions. Time will be freed up as AI is able to take on lower-level activities. This frees up time for the employee to use as they see fit. This may allow them to reduce the amount of overtime required to deal with administrative tasks, allowing them to devote more time to business-critical work rather than non-value-added operations.
- Personalization is Becoming more Important
Yes, artificial intelligence may replace some aspects of professions, but there’s no substitute for the human touch; in some industries, we’ll always need people, no matter how good our technology develops.
Take, for example, recruitment: certainly, AI can automate some aspects of the job – it can screen CVs, send out ads, and assist with candidate sourcing – but, at the end of the day, recruiting is about people. And, unlike a qualified recruiting consultant, a computer would have a tougher time establishing a solid cultural match between candidate and client.
This is an excellent example of technology and humans collaborating; AI will provide recruiters with a tool to help them improve their skills. As the industry evolves, we’re likely to see a shift toward a place where technology handles much of the technical matching, allowing recruiters to focus on the personalization aspect of their work.
- New Skills are in High Demand
While some skills appear to be on the rise, others appear to be on the fall. According to a survey published by the World Economic Forum, design, technology, and programming skills will be in higher demand than ever before by 2022. It’s also worth noting how important soft skills will be in the future; analytical thinking, creativity, originality, and initiative were mentioned as some of the most appealing skills.
This reinforces the concept that individuals with the ability to think outside the box and drive forward new methods can position themselves as pioneers and enjoy success when entering a more inventive field.
On the other hand, abilities like time management, technology installation, and physical dexterity all appear to be on the decline, supporting the theory that lower-level occupations will be automated.
Professionals in science, technology, engineering, and mathematics may expect a new universe of opportunity as demand for digital and technology-focused abilities grows. What’s more intriguing is that, according to McKinsey & Company, about 10% of all employment will be totally new by 2030, and will not exist currently.
- A Shift in Professions
According to McKinsey & Company, 3% of the worldwide workforce will be looking to change jobs by 2030, with transitions occurring across industries, sectors, and locations. Jobs involving physical tasks in structured workplaces, as well as data processing and inputting, are anticipated to experience a drop. The World Economic Forum’s analysis backs this up, predicting that data entry clerks, bookkeeping, payroll, and booking occupations will be the hardest hit.
Jobs that are difficult to automate and require personalization or human intelligence are predicted to rise significantly as technology develops, with professions such as data scientists, scientists, AI and machine learning professionals expected to see significant development. Where can we expect a lot of people to move in this evolving world of individuals traveling across occupations, regions, sectors, and industries? STEM.
Artificial Intelligence as a Workplace Assistant
While AI technology is fast becoming more sophisticated, there is still a lot of uncertainty about how it will affect the workplace. Will the majority of workers be replaced by smart machines as a result of the robot revolution? Or will it mark the start of a new era in human-technology relations, with AI taking over routine chores and allowing people to reflect on more creative pursuits?
People will gradually settle into a strong partnership with AI technology after the initial surge of disruption that AI will produce in the workplace, according to Onesti. “Our computing relationship with AI will be symbiotic. As AI learns more from humans, this means that people will increasingly employ AI to supplement their thinking.”
Nearly half of the more than 1,200 U.S. managers polled (47 %) believe that the rise of technological advancements like AI and robotics in the workplace will force their employees to learn new skills.
According to a study, just approximately 4% of firms around the world are experiencing a significant influence from sophisticated AI in their hiring and personnel management processes. According to the survey, that figure is predicted to increase to 30% in just two years.
Onesti says that Given AI’s ability to speed up the hiring process, which can be time-consuming for hiring managers, this prediction is not surprising (and job candidates, too). By identifying the most eligible candidates using machine-learning approaches that go beyond simple keyword matching, AI technology may make the resume review and candidate evaluation process easier. Another area where AI technology might assist businesses is in answering typical inquiries from job hopefuls.
How Can Artificial Intelligence (AI) Assist Organizations in Accelerating Digital Transformation?
Machine learning, deep learning, natural language processing (NLP), and predictive analytics are all examples of artificial intelligence (AI), which is driving digital transformation. Organizations can use these technologies to evaluate data in order to predict the future and recommend the most successful solutions.
Service providers can use AI-driven automation to provide dependable services with 24/7 support via chatbots. Smart data analytics can also be used to personalize encounters, improve workflows, and save support costs.
AI can also support firms in designing successful digital transformation roadmaps, thanks to its ability to learn and improve with additional data.
Workplace Examples of AI-Inspired Digital Transformation
Here are five examples of how AI-enabled digital transformation improves corporate operations:
1. Improved Customer Service with Conversational AI
Simple chatbots to complicated virtual consumer assistants are all examples of conversational AI.
A basic FAQ bot responds to the most often asked inquiries by your visitors. Users enter keywords, and the ML-powered bot responds with appropriate responses.
Virtual personal assistants like Amazon’s Alexa, Apple’s Siri, and Google Assistant answer more complicated and personalized questions and aid callers in completing activities or placing orders.
Advanced virtual assistants, such as Microsoft Power Virtual Agents, understand context (such as issue kind and customer type) and route incoming requests to the right bots.
2. AI-Powered CRMs Improve Customer Relationships
AI provides sales teams with a complete picture of their consumers based on web searches, order history, and product evaluations, allowing them to better understand their needs, improve customer interaction, and automate typical CRM chores.
Zoho, Salesforce, Sugar CRM, and Siebel are the most prominent CRM software packages. Each use artificial intelligence to evaluate client data and provide intelligent recommendations to your brand.
You can use Amazon’s AI recommendation engine to target different personality types. OTTO utilizes its ML-trained algorithms to cut down on stock and forecast what consumers will buy over the following month with 90% accuracy, while ASOS knows exactly how much you’ll spend during your customer lifetime.
3. Predictive Analytics and AI for Data Collection
How would you like to know what your company’s future holds so you may avoid mistakes and automate actions that lead to more profitable outcomes?
Through tools like SAS Advanced Analytics, AI-trained software analyses business data to determine which items and marketing techniques are most likely to attract customers and whether there are any holes that your company can fill.
The following features are included in such smart software:
Anomaly identification is a technique for pinpointing ineffective marketing methods or identifying and eliminating traits that turn off potential buyers.
Sentiment analysis can assist you understand what people are saying about your business on social media and how you can improve your offerings. Other predictive analytic functions include fraud detection and estimates for attrition, turnover, and retention.
As enterprises enter this era of unknowns, it is critical that they not only comprehend but also assist shape the potential repercussions of AI adoption. Investing in technology is not something that can be done in isolation. Instead, if companies want to succeed in the long run, they’ll need to develop solid strategies that consider the entire business ecosystem.
Furthermore, as a result of these changes, the parameters within which our communities operate will begin to change. Many facets of our life, from infrastructure and governance to education and social welfare, appear to be vulnerable to AI’s effects.
We have the exciting prospect of ushering in a new era in human growth by striving to build out a new terrain in which man and machine may coexist. “With the appropriate combination of capabilities and resources, as well as the correct mindset,” Onesti says, “miracles will happen.”