How Will AI Impact the Future of Work and Business?

Georgina Clarke 26 May 2023

Artificial intelligence is a topic that’s taken over everyone’s conversations recently. The major recent developments in this industry mean a lot of scaremongering has occurred, with misinformation being spread.

AI has turned into an umbrella term for describing advances in computer systems and technology that computer programs use to perform tasks or problem-solve that require some form of human intelligence. Whilst the term AI may conjure up typical sci-fi fantasies about robots sitting next to us at our office desks, sadly (or thankfully), this is not quite the reality!  

AI & Humans Will Co-Exist in the Workplace

Common speculation suggests the future co-habitation of AI and humans together at work, with 90% of leading businesses already investing in AI technologies. It’s predicted that companies who efficiently utilise both human and AI technologies will be the most successful, as AI will be enhancing human thought processes rather than innovating and replacing them! Don’t worry, contrary to media portrayal, chat GBT, Google Colab, and Guillbot aren’t coming for your jobs (just yet)!

AI and humans are beginning to not only work together in current jobs, but new jobs are being created to support these technological advances. Some of the new roles that AI has created include ‘Prompt Engineer’, ‘AI Trainer’, ‘AI Auditor’ and ‘AI Ethics’, to name a few.

The World Economic Forum estimates that by 2025, technology will create at least 12 million more jobs than it destroys. All these new jobs are featured around collaborating with AI and training it to help us achieve the best results together!

Artificial Intelligence Will Improve Efficiency & Productivity

As AI becomes more common within the workplace, the efficiency and productivity rates within the business will improve. Making routine tasks automated can free up human time, therefore increasing productivity and ensuring more beneficial business growth.

Tools like Alexa and Siri are already helping employees schedule meetings, answer questions and write to-do lists, which allows humans to prioritise more important tasks.

Within recruitment especially, AI is already being utilised by many businesses to help cut down on CVs and lighten the workload for recruiters. Back in 2018, 67% of hiring managers stated that AI was making their jobs easier.

Lead to Deeper Data Insights & Analysis

The level of depth that AI will be able to dive into depends on the industry; however, within the medical industry in particular, the amount of data they use is astronomical. AI can help sift through this data in impeccable depth, finding data that the human eye may miss. This has already been proven effective, with research proving that AI is shown to be more effective than physicians in certain diagnostic contexts.

Reduce Human Error

Everybody makes mistakes, it’s what makes us human. With AI, however, there is no room for error! As it’s automated and learns through machine learning, AI simply learns from the information fed to it. The more information it receives, the smarter it becomes.

Whether this comes in the form of automated cars spotting errors the human eye would miss, providing customer service or performing complex surgery that can only be performed by the most skilled surgeons, AI’s ability to see more than humans lends itself to be useful in many (if not all) industry sectors. Data shows that the use of AI in many business sectors has grown by 270% over the last four years!

Key AI Considerations

It’s safe to say that the world of technology is the world these days, as it’s so prominent in society’s everyday life in a multitude of forms. It impacts our lives in more ways than we know and realise, with it finding its way into the majority of industries.

One of the main considerations when it comes to AI is the fact that it will displace some jobs, and how society mitigates the negative impact of this on their workforces is crucial. Businesses that rely solely on AI technologies, with the aim to displace human employees, will only see short-term gains as AI fails to implement emotional intellect or creativity into its work.

Being able to accept this change is also important. As this cultural shift and change are inevitable, embracing the change will do us all the better than trying to push it away. A big part of this is remembering that there is a lot of false information out there about AI’s current capabilities, it won’t be taking over the world anytime soon!

Another key consideration to think about is that the cost of implementing artificial intelligence will decline over time. As it’s seemingly a new form of technology that’s very much still ‘in the works’, once it’s refined and is more developed, it will be cheaper to embrace. Think of when computers and the internet first began and how expensive they were back then compared to now!

Ethical Considerations and Security Risks Are Crucial in AI Adoption

One of the largest concerns with AI is the issue of data breaches to their access of large amounts of personal information. Especially with devices such as Alexa or Siri, which act as digital personal assistants that hold a lot of personal information about the user. How this information is stored and protected is vital to consider!

The legal aspect of artificial intelligence is an area that requires huge amounts of security and ethical considerations. As of currently, there’s no specific legislation in place governing the use of AI, robotics or algorithms. To allow users to fully trust artificial intelligence with their confidential work and information, the legalities must be adapted as fast, if not faster, than the technology itself.

One of the most important ethical considerations that comes with AI is the knowledge of humans obtaining unconscious bias. As artificial intelligence is a learning technology, it’s crucial that we don’t push these biases onto the new technology, as it has the potential to understand human assumptions from the circumstances provided, meaning there is still emotional validity to its answers. Therefore, diversity, equality and inclusion are all aspects of the ethical considerations that must be properly thought out.

How to Learn More About Artificial Intelligence

AI and technology can be an incredibly overwhelming topic, as it’s so vast and contains a lot of jargon. Hearing a keynote speaker who makes the information easily digestible is a fantastic way to learn more about the industry and its capabilities.

Our fantastic roster of technology speakers provide insight, foresight and the technical know-how for leaders and their teams to harness the most complex advances in every field under the technology umbrella, including artificial intelligence. These incredible speakers decode the intimidating jargon to make the industry more digestible, revealing the exciting ways the world is evolving!

Meanwhile, our impeccable futurist speakers search for answers in the uncertain world ahead. Futurists are experts in anticipating ever-changing trends and informing audiences on what the future may look like, how it may affect them and how they can benefit from the upcoming opportunities that lie in adversity.

Whether you’re after an academic professor, media commentator, digital technology or social media expert, our keynote speakers will give you a peek into the future of AI!

Get in touch with our friendly, impartial and expert team today!

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