3 Critical Implications of Technology Impact on the Industry

Artificial intelligence, despite the fact that it is still at the “weak form” stage, has a strong impact on many areas of life and business. For example, AI is impacting the labor market, and this impact will only increase over time.

There are several trends that are particularly prominent in this industry right now that are likely to become more and more prominent. By the way, according to Google CEO Sundar Pichai, the invention of AI may be even more significant for humanity than the invention of electricity or the Internet. Well, no matter who you work for, if AI does not have any impact on your specialty now, then in the near future it will definitely have. And this is not a threat, on the contrary, a positive factor. Under the cut – more details about these three trends.

AI helps, not competes

Of course, machine learning, the most relevant artificial intelligence technology for business today, in some cases performs tasks much faster and more efficiently than a person. This can be anomaly/threat detection in the operation of the bank’s network infrastructure, analysis of medical images, and predictive analytics.

But in most cases, AI is not able to independently perform the entire range of duties of representatives of a particular specialty. Even in the case of basic professions, there is doubt that AI will lead to job losses in the long or short term. True, there are similar doubts about whether the rise of AI technologies will lead to the creation of more jobs.

In theory, the popularization of AI technologies will lead to business growth. This often means more customers. But clients have a large number of problems that need to be solved, and the more actively the influx of clients grows, the sooner the volume of these problems increases. But AI is unlikely to be able to handle most requests, so more customer service specialists will be needed. Accordingly, even if some jobs are eliminated due to AI in one area, there will be more of them in another.

The attitude of most people towards AI is now wary or even outright hostile. Something similar was observed during the industrial revolutions. The first, for example, led to the emergence of political opposition and even large-scale public unrest. Their participants were sure that the further improvement of agricultural and production equipment would cause massive unemployment or even the collapse of society. And these fears and fears have not gone away.

True, there are also supporters of automation and digitalization who believe that technology will lead to full prosperity and the absence of the need to work. That is, people will be able to spend their time in the implementation of creative projects that do not have much practical meaning, at least in the current sense.

Most likely, the real future will be somewhere between the first and second options. Yes, some specialties will go away, but still machines will help people, and not compete with them.

Strengthening our capabilities with machines

Smart systems will be able to help a person perform routine daily duties. For example, a doctor will need to examine fewer medical images – instead of a person, this will be done by a machine. And only where controversial cases are found, a person will make a final decision.

In addition, in many areas, the machine is simply not able to completely replace the person. For example, in HR, a human specialist will play a decisive role for a very long time. Nevertheless, it is artificial intelligence that can be engaged in calling candidates and collecting preliminary information, as we have already written about.

In addition, robots are already helping humans in industries such as logistics. Here it would be useful to recall the warehouses of Amazon, where robots help people. In addition, at the Ericsson 5G production, machines are assembled, packed and shipped, and security drones patrol the premises. Ocado, an online supermarket, uses robots to pick and pack 50,000 customer orders an hour, traversing miles of shelves in football field-sized warehouses.

Our ability and willingness to get along with our new robot colleagues will likely play a big role in determining how successful we will be in the near future. For businesses, the challenge will be to ensure that humans and robots spend their time on the work in which they are most efficient.

New specialties

If you look at previous versions of industrial revolutions, then each of them was accompanied by the emergence of new specialties. An operator of a weaving machine, a blacksmith – an operator of a steam hammer (if I may put it that way, of course), a tractor driver, etc.

The current industrial evolution, which is closely linked to the popularization of artificial intelligence, is no exception. Business and society are having to adapt as smart machines and automation become more important. Now there are new specialties, and over time there will be more of them.

Some, as mentioned above, will be automated. Some jobs will disappear, but other specialties will appear, where people who previously performed any routine operations that robots began to perform will be able to move.

What can be said with certainty is that machines will take on more and more routine tasks. Accordingly, people will be able to fulfill themselves in the course of solving problems where complex decisions are required, which machines still do not do very well.

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