A glimpse into an AI future in the workplace
The problem with AI is that so much of it is theoretical and forward-thinking. This has led to a lot of scaremongering about job losses and misunderstanding about its impact.
So an AI think tank called Live with AI has decided to highlight the impact it would have on eight real-life jobs across a range of sectors including advertising, banking and manufacturing.
In partnership with the Lee Kuan Yew Centre for Innovative Cities at SUTD and DataRobot, the research aims to dispel the popular myths surrounding AI, and offer actionable advice as an AI-powered future draws closer.
One of the roles the research looked at was the processing of new insurance policies and claims by a customer service specialist. This is predicted to be 100% automated in the next 1-2 years, as generating cover notes and policies can be done through automation.
However, providing customer service by assisting and responding to queries will only be partially impacted and may actually require more human attention and time.
The task of managing client portfolios and plans by investment consultants might be automated by 50% in the next 1-2 years as machines can check whether portfolios are outside of a defined tolerance.
However, AI will enhance the role of the consultant significantly by identifying investment products and ideas that can be vetted by them. This will help create insights and analysis that can be valuable to improve the client relationship.
So instead of widespread job losses with robots and computers replacing humans, AI-enhanced human roles will emerge to help employees do their jobs better.
In preparation for this, employees must focus on enhancing their innate human skills such as critical thinking, creativity, emotional intelligence and empathy, advises Live with AI.
And rather than fearing AI, companies can use it to automate menial administrative tasks, freeing up people to focus on the work that requires greater cognitive capacity.