April 4th, 2018
Artificial Intelligence (AI) is a favorite topic of news headlines today. Tech giants are racing to innovate and bring to market AI solutions. At the same time, the business world is trying to figure out what role AI will have in day-to-day business operations. So, how do employees and companies prepare for this industry force whose existence and ideas were once only seen in Hollywood movies?
AI in Business Today: The Benefits and the Challenges
Today, AI is being utilized in many other industries outside the tech community. Businesses across the globe are investing and implementing AI-driven tools and platforms, especially in the areas of business analytics (BA), human resources (HR), and IT.
Corporations are using AI for Business Analytics by relying on machine learning and algorithms to drive everything from streamlining corporate processes to marketing strategies. HR departments have taken steps to include AI in their recruitment and assessment procedures to avoid human bias and error while increasing efficiency. Lastly, in the IT world, AI tools are being harnessed to aid in the never-ending cyber battle. In the cyber realm, AI can be used to develop models that can detect malware and other unusual, suspicious activity that may go unnoticed by the human eye, thus preventing breaches before they occur.
While there can be many benefits to AI, there can also be many challenges. First, with AI comes vast amounts of data and with data, comes big headaches. Who will manage the data? How will it be stored? Are the correct privacy policies in place to protect the data? Second, AI brings with it significant security concerns. Will having AI tools make networks more vulnerable to attack? Finally, there is the fear of the unknown. How will AI and humans work together and interact? How will the adoption of AI into corporate strategies change the way business is conducted? Additionally, there will always be the fear of the unknown regarding AI’s threat to human jobs.
The Future of IT Jobs and AI
While AI is, exciting and has much to offer, there is much uncertainty on how humans and AI will grow together into the future. While it’s true some jobs, mostly in manufacturing, have already been lost to AI, it is hard to predict what the future will look like for other industries, especially IT.
Regarding the great “robot job” debate, some AI experts believe that in the years ahead jobs won’t be lost as much as they will change. While other experts feel that the situation needs further discussion and debate.
For example, Dr. Nathan Wilson, Co-Founder and Chief Technology Officer of Nara Logics, predicts that “the shift to AI-based systems would likely cause the economy to add jobs that are intended to facilitate the transition.” He believes that “AI will create more wealth than it destroys.”
Artificial Intelligence, once a theoretical concept, is now a reality that is driving businesses across all industries, now and for the foreseeable future. For example, Goldman Sachs expects “AI to create hundreds of billions of dollars in cost savings and new opportunities over the next decade.” With AI predictions, such as this, it essential that businesses stay up-to-date with the AI and make sure their corporate strategies include it.
AI and Your Company
The best way to ensure your company is ready to tackle the challenges of AI is to hire talent well skilled and experienced in the use of AI and related technologies. When the time comes to recruit such talent, turn to the experts at ASB Resources. We have the connections, talent, and industry knowledge to help prepare your company for the world of AI now and into the future.