Knowledge Sharing
3. Coping with Artificial Intelligence in the Workplace
Enterprises are speeding up their digitalization and exploring
innovative business models. Many work processes previously done
by human are automated now. How should employees cope with
the challenges and what skills are important now?
Artificial Intelligence (AI)
◦ John McCarthy invented the term in 1950. Science that uses computer algorithms to replicate human intelligent behavior by machines with minimal human intervention is called artificial intelligence (AI)
◦ Accenture, the global consulting company reported on AI systems
- can reinvent how business run, compete and thrive
- increase corporate profitability and labor productivity by 40%
◦ KPMG, the global consulting and accounting firm indicated
- 50% percent of the work human perform in the workplace today could be automated.
◦ Reuters International News reported
- lawmakers in Europe have agreed on the need for European Union wide legislation that would regulate robots and their use (liability for the actions of robots including self-driving cars)
Advantages of AI
- Increase efficiency, can handle repetitive tasks
- Improved work flows across an organization
- Lower human error rates
- Deeper data analysis
- More informed decision making
- Employees can focus on creative solutions
- Make life a little easy for human
Disadvantages of AI
- High costs of creation: as AI require updating the hardware every day and software need to get updated with time to meet the latest requirements
- Making human lazy: AI applications automate the majority of the work flow.
- Unemployment
- No emotions
- No thinking out of the program
A Business Model
- Is an outline of how a company plans to make money with its product and from customer
- What product or service a company will sell?
- How it intends to market that product or service?
- What kind of expenses it will face?
- How it expects to turn a profit?
Business Models
Business models continually evolve as companies react to changes and reposition to avoid risks and seize opportunities.
Digital
Digital enables scale, quality, data processing, machine to machine communication and senor based on surveillance.
Business Models Be Digital
- Digital emphasizes the core logic and make business models even more important.
- Digital affects the organizational design in different business models in specific ways.
- Finally, the process of digitization has to be aligned with the logic of the business.
Knut Haanaes, Professor IMD
Digital Business Models
Digital allows firms to develop new business models
- Amazon branching out into cloud services
- IBM moving out from hard ware products to service and now again to analytics
- Netflix continuously moving into the next delivery platform
- Car producers were with electric and self-driving cars now
Business Processes
Appianhttps://appian.com › bpm › business-process-definition
- Developing and managing products and services.
- Marketing and selling products and services.
- Delivering services.
- Managing customer service.
Work Processes by Robotics and Automation
MCKINSEY Global Institute’s (a global management consulting leader) recent report about the future of work concludes
Workers require less education to perform the work hit the hardest by AI such as machine operators, factory and food workers.
The situation could be more serious in wealthy nations like US, Germany & etc. Researchers estimate up to one third of the workforce will be affected
A fully automated car assembly Line by robotic arms at Hyundai
A former CEO of McDonald in US said it’s cheaper to buy a robotic arm than hiring worker bagging French fries; and finds self-service order machine more efficient than cashier staff receiving order and payment.
Walmart, many leading retails stores, supermarkets and convenience stores equipped with automated self-check out
Robot perform surgeries previously done by surgeon’s hand
Online insurance quotation previously handled by broker in person
MCKINSEY Global Institute’s recent report of The Future of Work After COVID 19 concluded
- Estimated 1 out of every 16 employees would change job or occupation
- Advised employees should learn more professional skills for securing their jobs
- Expected machine would replace more & more jobs in coming year
World Economic Forum 2020
Concluded out of the advantages and disadvantages of Artificial Intelligence (AI), soft skills are demanded by global enterprises.
1. Critical thinking, 2. Analysis, 3. Problem solving, 4. Self-assessment and 5. Active learning
The 5 soft skills mostly demanded by enterprises
- Communication skills
- Social skills
- Creativity and an innovative mind
- Active learning
- Problem solving skills
1. Communication Skills
Communication skills – AI is not yet capable of
- Employees should acquire
- Impressive presentation skills
- Persuasive negotiation skills
- Debating skills
- By effective communication, employees can
- Build good relationship with supervisor and colleague
- Improve teamwork and collaboration
- Steps
- Establish meaningful conversations
- Learn to be a good listener
2. Social Skills
Social skills – AI has not yet built with it
- Employee should acquire skills of empathy, engage with others, ask open-ended questions to start talking with others
- By effective social skills, employee can
- know different people from different industries
- Can get to know superior and be promoted more easily
- Steps
- Join different networking events
- Attend company annual dinner and gatherings
3. Creativity and An Innovative Mind
Creativity and an innovative mind – AI have not yet learnt them
Employee should acquire
- The skill to think out of the box.
- Effective creativity and innovation can be significantly improved by employee’s training and practice
Step
Group brainstorming can sort and filter ideas for making plan
4. Active learning
Active learning – AI require programming and a database to function
- Employee should develop a habit to
- Keep updating knowledge
- Step
- keep learning new things and techniques for employment
- Employee should acquire self-assessment skills
- Step
- by regularly review own self by short to long term goals for career growth
5. Problem Solving Skills
Problem solving skills – AI has not yet capable to do
- Employee should acquire the skill to
- analyse data and think critically
- learn to enhance own strengths
- By effective solving skills employee can
- form judgement by the analysis of facts and evidence
- process incidents involving human relationship
Coping with Artificial Intelligence in the workplace
Conclusion
- Jobs requiring human interaction are at low risk being replaced by robots and automation, examples of medical doctors, nurses, teachers, lawyers and social workers.
- Regardless of the impact by Artificial Intelligence set on employees, life-long learning and occupational training are the essential survival tools to secure employments.
- Employer should act ethically for the displaced employees. The older and immobile workers who are unlikely to opt for retraining
