There have been continuous debates whether there are enough jobs created in the country with the fast- paced technological evolution. Globally, there is a debate about the impact of Artificial Intelligence (AI).
Like each wave of innovation brings fear of job reduction, the fear that AI will make human effort redundant is rising. This leads to the question - “Is the goal to eliminate jobs or to enhance the quality of jobs?”
AI is an umbrella term for an array of technologies designed to perform tasks that normally require human intelligence.
These include machine learning, deep learning, natural language processing, and voice recognition.
PricewaterhouseCoopers estimates that worldwide, AI will increase global GDP by $15.7 trillion, a full 14 percent, by 2030, out of which $957 billion is likely to be accrued to India.
AI is penetrating across industries such as healthcare, advertising, transportation, finance, legal, education, and hospitality. Examples include human interaction with chatbots on social media platforms.
While people will still have apprehensions about job loss and displacement, we must be aware that AI has the power to solve some of the great problems of mankind. We have several instances of AI driving great advances in healthcare and medicine, manufacturing, and industrial sectors.
For instance, AI- powered security tools can downsize the effort required by security experts in maintaining the integrity of IT systems.
Considering the amount of time and effort required to train a security analyst, AI assistants will act as an enabler with their efficiency of fighting cyber-attacks.
AI in collaboration with people will shape the future of work. With AI, there will be a future in which automation and service intelligence handle routine tasks so that people can focus on the creative, meaningful work that attracted them to their fields in the first place.
The purpose of AI will be largely to increase productivity and innovation. In the ‘workplace of the future’, tasks will be assigned basis the collaboration of the ability of humans and non-humans.
This will be based on what role AI, analytics and algorithms will play to help humans perform better at work. It is important to note that though intelligent automation is the future of work, there are certain tasks where humans cannot be replaced or replicated.
However, it is only through collaboration of both humans and AI that work gets done better.
With the increase in the application of AI technology, business leaders should consider the benefits of collaboration of AI with humans to complete complicated tasks in less time.
It is important to know how organisations can leverage AI to create a compelling employee experience by moving beyond HR and building a strong relationship between HR, IT, marketing, and workforce
Organisations should consider the role AI plays in enhancing both employee and customer experience, and how will humans and machines work together in the future.
Gartner's latest prediction estimates that one in five workers will have an AI as their co-worker by 2022.
AI is set to create new jobs and the workforce of today will need to reskill themselves to remain relevant and employable. If we look at the significant impact that AI will have in the future job roles, it is certain that the jobs of the future will require renewed skill sets.
A key finding of the 'Future of Jobs in India' study, commissioned jointly by FICCI and NASSCOM with EY, was that 9 percent of India's 600 million estimated workforce would be deployed in new jobs that do not exist today, while 37 percent would be in jobs that have radically changed skill sets.
The next questions is: How do we prepare ourselves? One way to keep up with the technological disruptions is to re-skill the existing workforce.
They will need to keep up pace with the technological advances and ensure that right skills are adopted in order to thrive in the ever-changing world of work.
Indian organizations need to plan areas where AI can be leveraged to increase productivity and re-educate employees accordingly.
Companies often outsource talent to help them deploy new technologies.
With AI, the smarter strategy is often to develop the expertise one needs in‐house, either through training, hiring, or both.
It is pertinent for companies to think more expansively in order to model future scenarios and test their strategies against a range of possibilities, to find a competitive edge with AI.
While countries worldwide are preparing for this revolution, India should start navigating the early stages of this transformation and embrace technologies to develop the right AI strategy.
(The writer is Managing Director, ServiceNow India)(ServiceNow provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments)