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Technology

Artificial Intelligence is Coming!

Artificial intelligence (Ai), algorithms and robotics is a fast-growing area that has blended effortlessly into our daily lives. Let us learn to live with the change.

By Gulnaz Nawaz | April 2021

“Almost anything experts appreciate about modern civilization is the reflection of intellect, so intensifying our human intelligence with artificial intelligence can make civilizations thrive as never before as long as we find a way to keep the innovation going.”

We are already in the top half of the post-digital era where the Industrial Revolution is primarily driven by innovations such as artificial intelligence (AI), algorithms, and robotics. Artificial Intelligence is a fast-growing area that has blended effortlessly into our daily lives. We can see its impact in many fields, including healthcare, transport, finance and more. What is fascinating is that its results are both small and large. If we speak about the current period, there is no sector and no human being whose life still hasn’t been influenced by AI in one way or another.

From advanced interactive assistants like Siri and Alexa to revolutionary self-driving vehicles and IoT gadgets, AI never fails to fascinate us. AI has an enormous ability to change livability, to boost economic performance and to create a better future with infinite possibilities.

Artificial intelligence can be seen as the motivating force behind new and evolving technology such as big data, robotics and IoT, and we are optimistic that this could proceed to be a significant contributor and digital innovator for the foreseeable future. Manufacturers throughout all business segments are also using AI to replace repetitive and time-consuming activities. This helps employees to concentrate much more on the important areas of the company that involve human analytical and creative skills.

By automating repetitive operations, AI frees up the time of workers who can concentrate on providing value-added services to the business and even on upscaling. Besides, automation helps to minimize administrative costs by reducing the workforce and promoting the accelerated delivery of operations. Humans need a break between tasks; computers do not have such a limitation. Machines don’t get tired, bored, or distracted, making them all the more ideal for conducting tasks. They are at your command 24×7, all year long. While the AI today is predominantly narrow, it is capable of executing a variety of tasks effectively without human interference. This is the strength of ML algorithms, if you build them correctly to execute particular functions. To benefit from the experience, these algorithms leave no space for error. Since machines do not have emotions or thoughts, they are capable of completing multiple tasks with accurate results.

Hence AI is getting smarter and becoming much more reliable than individuals. The consequence of Artificial Intelligence on human life and the economy has been phenomenal. As per estimates, Artificial Intelligence could contribute around $15.7 trillion to the global economy by 2030 which means several workers would be made redundant and substituted by AI.
Would robots take my work from me? The short response is: they may. AI is the greatest growth prospect for the next decade. According to numerous sources, alerts indicate that AI could lead to the loss of tens of millions of workers. Many sources indicate work changes or the very essence of job shifts.

George-Krasada

In less than 20 years, cashiers, solicitors, logistics officers, civil representatives, auditors, postal service clerks, payment and account collectors, email clerks, clinical assistants, and street cleaners are more vulnerable to automation. Jobs that are least likely to be automated are in social care. Jobs were substituted in history, but the rate at which these accelerating developments are increasing today is faster than the rate of human adaptation. Employment most sensitive to automation is not determined whether white-collar or blue-collar.

Despite these worries and doubts, every technological shift has ended up generating more jobs. As specific processes are automated, you need more human capability to handle the other functions of the operation that have not been automated.

For individuals, organizations, and countries with the requisite skills, automation integration is not a threat. It is an economic stimulus that offers a giant prize. Employers now have to understand the fact how AI will have an effect on their employees and should have them prepped: get some staff to existing positions and retrain and recruit some for new positions that AI will necessitate.

If you’ are in a regular job which is at a high risk of being automated within the next decade, you have three choices, lead the shift, rotate, or do nothing. As in every transformation, there will be an adjustment phase in which people will work alongside robots. If you plan to do nothing and play the odds, try and do the best you can.

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