The world is slowly moving towards the biggest change where technology will be taking over the charge for most of the work. We may new developments that have transformed the lives of an individual. Whether its self-driving car, Siri or Alexa, everything is a live example of Artificial Intelligence which has transformed the way things operate. Its time that business and economies start embracing AI as it promises huge benefits for the business. And make their business operations more productive. It is essential to mention here that some work requires human skills while others work on technologies like AI. Although, we have seen some massive transformation in the businesses, at the same time there is a section of society which feels nudged by the growth of this technology. So, here we will be unfolding whether AI is a competitor or collaborator.
AI: Collaborator or Competitor?
When we say that AI is a competitor, then we mean that it poses certain threats and has some drawbacks, which make it’s a questionable technology. But, before going ahead, let’s analyse what good it will do and how it can collaborate with the current business operations and make it more productive.
AI as a Collaborator:
When we talk about AI in today’s aspect, then we know it as narrow AI or weak AI, which is limited to a self-driving car, virtual assistants like Siri. The bit when we talk about the general AI, then we talk about it overcoming even the cognitive skills of a human. Let’s focus on how AI is helping the businesses grow:
AI is used for enhancing business productivity. The businesses can use predictive maintenance to cause the huge volume of high-dimensional data from imaged and audio, to detect any differences or anomalies in factory assembly lines or aircraft engines. It also finds application in the logistic industry by optimizing the routing of delivery traffic and reducing the delivery time. This will again benefit the business.
You can see its profound use in call centre industry where it is used to improve speech recognition. While using any of the e-commerce websites, you would have come across the section where it shows products you may like or services that might interest you; this is nothing but yet another application of AI. Herein, the AI combines demographics of the customer, their last transaction and social media monitoring. Based on all these data, the system churns out what would be your future buy. This helps in formulating next to buy the product . Companies are making use of this technology to improve the customer’s experience. With such practical implications of AI in different sectors, we can say that it is undoubtedly going to help in business expansion. Whether it is sales, marketing, or supply chain management, and you can find myriads of uses of this technology. At the same time, with the help of Artificial Intelligence, we can easily automate many processes which can otherwise become susceptible to human errors. Thus we see that collaborating different features of AI; we can have a solution-driven approach, which is error-free.
AI as a Competitor:
We have already mentioned above, that AI is a nascent technology, and we are still in a phase of developing it so that it can soon it can efficiently pick up the tasks that humans perform, but without any error. Some people find it a threat to their current profile. Imagine a technology taking over the charge of every human work, and it would be a threat to the job profile and work of many people. Thus many people see it as a threat.
However, it is essential to mention here that this technology is still growing. It helps in critical analysis of data and churning out results that help businesses grow, but it will take time for this technology to beat the cognitive skills of human which helps them make decisions based on the situation. To overcome this situation, it’s essential for the Government to take initiatives and work towards promoting entrepreneurship that will boost productivity and also lead to job creation. Developing a platform where individuals can learn this technology and convert it into their job opportunity is something which the companies must be looking at.
An important point to note here is that with AI growing and creating more significant impact, we will have the need for individuals who are skilled in this field. Companies like Global Tech Council offer certification courses in AI, which provides all the information and knowledge to create AI experts who have better job prospects in the future.