Why Artificial Intelligence Is Much Needed For The Job Market Today

Artificial intelligence is now taking on a more central role by transforming the way we work. As per the latest industry report, 54% of the major workforce in America believe they would be able to save more than five hours per day if the mundane tasks they perform were being automated.

An MIT economist Frank Levy highlighted that artificial intelligence will automate only certain parts of jobs, rather than the entire job. For instance, the human workforce can process information at work while computers will be required only to execute instructions. Jobs that will shrink due to automation will still have components that require human intervention.

Statistics Supporting The Need For AI Aided Automation

As predictive models that lies at the heart of Artificial Intelligence do not always predict what is right, incidences that generally fall out of boundaries of ordinary routine decisions may need the human workforce to handle. In legal cases, for instance, the intervention of people having the ability to make complex decisions are still needed.

In simple terms, low-skilled jobs that follow the same routine are likely to disappear, while high-skill jobs will continue to grow.

Monday.com, came up with several statistics that prove that AI aided automation is much needed today. They are as follows:

  • Over 70% of the surveyed professionals reported that would prefer if automation were implemented for daily routine tasks such as calendar invites and data entry.
  • Also, 38% of these workers said they would be able to save five hours from their daily schedule provided they have the tools that can assist them in their daily repetitive tasks.
  • And above 32% said they would prefer eliminating repetitive administrative tasks if there’s something worth improving from their daily work routine.
  • An estimation of 16% of workers said they would be able to save ten or more hours per week with the help of automation.

Steve Barrett, VP of EMEA at PagerDuty said that AI tools and technologies will become common in the coming five years.

According to the number of job listings seen on Indeed, there has been a significant growth rate of AI jobs 29% between the years of May 2018 to May 2019.

However, in the same period, Indeed also saw a decrease in candidate searches for job roles such as AI experts.

“Artificial intelligence predicts to create 58 million newer jobs by 2022, according to a report by the World Economic Forum.”

What are the major global research companies saying about AI?

When you talk about artificial intelligence, there’s a clear consensus.

  • The business value that will be created by AI will be around USD 3.9 trillion in 2022, a report by Gartner.
  • Globally, the amount spent on AI will be around USD 77.6 billion – prediction by IDC.
  • AI now has the potential of creating approximately the value of USD 2.6 trillion in value of market and sales by 2022 based on a survey by McKinsey Global Institute.

Automation projects are set to become a tool or process that most professionals look forward to today. It is now becoming an integral part of organizations and workers. For instance, if you’re headed out to the marketplace, you’ll come across people talking in topics such as, “what are the kinds of systems you’re using to automate your workflows?

Conclusion

As Burn says, “people can deal with some amount of tedious work. But automation gives them comfort in knowing that that’s not the only thing they’ll be expected to do.”

AI will keep continuing to transform how we interact with the world today. Thus, it is ideal for us to start investing in Artificial intelligence courses and certifications to stay future-ready.

 

About Ariaa Reeds

Ariaa Reeds

Ariaa Reeds is a professional writer who curates articles for a variety of online publications. She has extensive experience writing on a diverse range of topics including business, education, finance, travel, health and technology


Posts by Ariaa Reeds

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