8 Ways AI is Shaping the Future of the Workforce

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Artificial Intelligence (AI) has been on the radar for several years now. Once the stuff of science fiction movies, AI is now very much a reality. And its presence is only going to continue to grow.

 

Many people are concerned about whether or not AI is going to put them out of work. The answer: it might. But as we grow to understand more about AI and what it can do, we will hopefully learn to adapt our processes and positions so that humans are able to work alongside AI—not in competition with it.

 

In that spirit, today we’re talking about 8 ways AI is shaping the future of the workforce.

 

 

  • Fraud detection. Banks are using AI to detect suspicious account activity. AI is able to monitor and interpret account activity much quicker than a human would be able to, therefore making it an ideal approach to the problem of fraud. As AI technology improves, it’s likely that it will be used in other security-related ways as well.
  • Hiring processes.  In many ways, AI is improving and streamlining hiring processes, helping with everything from writing compelling job ads to seamlessly scheduling interviews. Certain AI programs are even able to match qualified candidates to jobs, resulting in a much more effective and efficient hiring process.
  • Measuring performance. AI is being used to track employee performance, which can be invaluable information for managers when it comes to building and maintaining a productive workforce. By finding insights among a set of data points, AI can highlight an employee’s strengths and weaknesses, and even help managers identify talent gaps in their teams.
  • Administration. One of the most popular uses of AI is applying it to mundane, time-consuming. administrative tasks. This could include things like scheduling meetings, recording and transcribing meetings, sending reminders, etc.
  • Customer service. Customers are getting more used to dealing with AI…and they might not even realize it. Some companies use chatbots to answer frequently asked questions or help customers deal with common problems, and their answers are designed to mimic answers a live person would give.
  • Training. AI programs are being developed that can observe an employee’s performance in real time (e.g. on a sales call) and provide them with tips on how to improve their performance. This is certainly a technology that will be more widely used in the coming years as AI becomes more advanced.
  • Translation. Translation AI allows two people who speak different languages to have a semi-fluent conversation in real-time. This could have huge implications for the global marketplace as this technology develops further.
  • Humanizing. It may seem backwards to think that AI could be adding to the human element of business, but consider this: as more and more processes become automated, the processes that aren’t automated (i.e. the human ones) become more clearly human. By freeing up mental space, AI can help people focus on the human elements of the workplace (culture, work relationships, etc.).

 

AI is something that continues to evolve, practically on a daily basis. By looking at what AI can do now, and applying that to its potential future use, we can see the tremendous impact that AI is going to have on the workforce in the coming years.  

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