“The robots will take our jobs!”
It’s a popular clickbait headline for articles discussing the business impact of artificial intelligence, but a recent paper produced by researchers from the Massachusetts Institute of Technology and Carnegie Mellon University underscores that this is simply not the case.
The scientists, MIT’s Erik Brynjolfsson along with Daniel Rock and Tom Mitchell from Carnegie Mellon, argue that AI will replace tasks, not jobs, and allow humans to focus on the most critical, highly-skilled aspects of their roles.
As a result, rather than getting distracted by misleading stories, the study’s authors urge people to focus on “the redesign of jobs and re-engineering of business processes” with the support of artificial intelligence (AI). The latest research from TIBCO echoes this sentiment among executives, finding that nearly two thirds who rely on artificial intelligence and machine learning to innovate expect balanced or significant job growth to continue.
AI has the potential to truly drive change by taking data out of the back-office and putting it into the hands of those who can use it most – in many cases, this is customer-facing employees on the front lines of the business. The technology allows us to efficiently sort through large volumes of dimensional data, develop new insights, and most importantly, drive action.
The impact of this is profound, particularly when it comes to the customer experience. Companies are jumping from strategies previously based on historical data to ones that use predictive analytics to drive more business value. The resulting forward-looking view empowers employees to anticipate customer needs and address them before they even ask.
Key to achieving this goal is embedding AI capabilities within existing enterprise applications and software. This provides companies with trusted, accurate insight and simultaneously frees them to divert more human resources towards acting — and profiting — on this information. The combination of humans and AI is a game changer.