Artificial Intelligence is not just a fancy buzzword anymore. And despite all the gloom and doom predictions about AI taking over human’s jobs, AI in workplaces is becoming mainstream at a really fast pace.
According to the NewVantage Survey, 2020, more than 9 out of 10 leading businesses have an ongoing investment in AI. In fact, according to Gartner, despite shortage of talent, the percentage of enterprises employing AI technology grew 270 percent between 2015 and 2019.
Does that mean AI is here to take human jobs? Well, it depends on which jobs you are talking about. Artificial Intelligence will certainly replace some jobs while others will stick around.
Harvard Business Review believes that AI will just replace some menial and repetitive jobs and allow humans to take up more complex tasks resulting in augmenting human capabilities, and not replacing them. Here are five applications for AI in the workplace that will streamline work for the company and for its employees.
1. Recruitment and Onboarding
Artificial intelligence is already being used by large companies to help pre-screen job candidates. Various companies like Montage and Pymetrics offer AI-powered solutions that allow organizations to assess candidates during interviews, utilize on-demand text interviewing and automated scheduling and reduce the impact of unconscious biases on the recruitment process.
During the onboarding process, many organizations are implementing AI-powered chatbots that help new hires settle in their roles.
2. Increased Productivity
As we pointed out earlier, AI helps manage repetitive tasks so that you can free up your resources to focus on more complex business requirements. One of the most popular solutions for managing repetitive tasks is chatbots.
For example, a large number of businesses use chatbots — 47% of organizations are expected to implement chatbots and 40% are expected to adopt virtual assistants — to manage their customer support.
It is predicted that nearly 85% of customer interactions will be handled without human agents by the end of this year. These chatbots have dramatically reduced the time taken from information gathering to initiating the process of filing customer complaints.
3. Learning and Training
Learning never stops and AI at the workplace can help you identify continuous learning opportunities.
Some large organizations also use AI to record transferable skills from one generation of employees to the other. These records can later be used to stop newer employees from making the same mistakes their predecessors did..
For example, in order to record real life experience of employees and to derive learnings from it, engineering giant Honeywell has developed tools which utilize augmented and virtual reality (AR/VR) along with AI. These “lessons” are later transferred to new hires.
We have all heard about the role of robots in industries like healthcare and manufacturing. In the not-so-distant future, robots are going to be a reality for even more industries and workplaces.
For example, Gartner’s research shows that 77% of retailers plan to deploy AI by 2021, with the deployment of robotics for warehouse picking as the top use case. It also predicts that at least two top global retailers will establish robot resource organizations to manage their non-human workers by 2025.
Delivery robots and security robots are already a thing and more applications will continue to be identified in the near future.
5. Better Data Crunching and Security
Data is the backbone of any business today. But the challenge is while most businesses generate huge amounts of data, very few know how to use and protect it. AI in the workplace can help you manage your data better.
AI not only manages data, but also helps provide valuable insights. For example, in the banking sector financial products are being recommended on the basis of AI analysis of available funds.