The Profound Effects of AI on Jobs and Industries
Artificial Intelligence (AI) has had created an overpowering impact in our modern lives in more ways than one ! Gone are the days of actual manual work being the main force behind mankind’s progress. The arrival of this technology has changed our lives for the better but also introduced challenges .
In this blog, We shall look at the ways at how AI has and will influenced the Workplace as we know it .
1) Automation of Routine Tasks :
AI has the capability to automate repetitive and mundane tasks which can appear dull to some. The introduction of AI has brought about considerable gains in efficiency and productivity as employees often do tend to get bored of doing the same repetitive tasks over and over again . This seemingly great benefit has become a pain for some due to their concerns of being displaced from their work despite a monotonous nature of work
2) Improved Customer Experience
The introduction of AI chatbots and Voice based Virtual assistants for customer inquiries has transformed the mode that customers use to interact with companies as we know it .While this AI technology can sometimes be frustrating for customers, This mode of AI Technology has saved thousands if not millions for companies who might have had to hire a lot more workers for customer support , and has also helped in saving a lot more time thanks to the streamlined process that the introduction of such a technology offers.
3) Aids in Decision Making :
AI technology has introduced algorithms that has immensely helped in aided in the decision making process especially in the area of predicting market trends especially in Finance Industries , As Hedge funds and financial institutions use AI for Trading and managing their portfolios . Further reducing the need for manpower and increasing the profitability of firms operating under such circumstances.
4) Aids in Employment Training Programs:
Unlike normal training programs that follow a particular framework while taking into consideration a worker with a standard set of experiences. AI powered tools can provide a personalized training and development programs for employees while taking into consideration their personal experiences, personality and preferred method of learning/acquiring said skills. This can help employees of such companies to stay relevant in industries that do change quite rapidly over a period of time, Such as the IT Industry.
5) Workforce Monitoring :
AI tools and related technologies have made it easier than ever to manage workers in the workplace. They enable the close evaluation of employees' work-related performance, tracking productivity, and even assessing employee well-being to improve overall work-related performance. However, this has raised privacy concerns among many employees. Still, the benefits for large corporations and companies often outweigh these concerns.
In Summary, AI has significantly impacted the workplace bringing both good and bad . It has potential to increase efficiency albeit at the cost of ethical and privacy implications for workers being affected by it.
