|For many, the use of artificial intelligence and automation seems to be far off in the future. But, recent developments suggest that we are a lot closer than we think / Photo by: Pop Nukoonrat via 123RF|
For many, the use of artificial intelligence and automation seems to be far off in the future. But, recent developments suggest that we are a lot closer than we think. We have smart assistants, robots that can be taken to space, self-driving cars, devices that can recognize and understand our emotions, and many more.
AI and automation can be found in almost every industry. It’s now hard to identify a field where these technologies are not being utilized. The most prevalent area is manufacturing. With many required tasks, whether they are labor-intensive or highly repetitive, integrating automated machinery has improved efficiency as well as created greater quality control. The ever-increasing reliance on robots for industrial work is one of the most visible ways that automation impacts industries.
Fortunly, a comprehensive source of information about financial products and services, reported that experts projected that the number of industrial robots will increase from 1.83 million in 2016 to 3.05 million in 2020. This report shows that new innovations are speeding up this trend. Thus, it’s not surprising that we would experience a drastic increase in those figures in the robot workplace as years pass by.
A survey conducted by the International Federation of Robotics revealed that people remain optimistic about the potential benefits of automation, even as the number of jobs eliminated by it increases. About 70% out of 7,000 surveyed workers expressed hope about higher-skilled employment. Nonetheless, the increasing adoption of AI and automation will change the way people and industries use technology.
Automation Will Take Jobs
Automation in the workplace is rooted in economic theories on mass production and the ability to manufacture products efficiently and safely. However, it’s no secret that AI and automation can take on human work – a capacity that will increase as self-learning technologies improve. Studies show that nearly 40% of US jobs will be at risk of automation by the early 2030s. But, Erick Brynjolfsson of MIT Initiative on the Digital Economy sees this as not a world without work, but a world rapidly changing work.
Forbes, a global media company focusing on business, investing, technology, entrepreneurship, leadership, and lifestyle, reported that as many as 120 million workers in the world’s 12 largest economies may need to be retrained or reskilled as a result of AI and intelligent automation in the next three years. A survey from research firm IBM showed that only 41% of CEOs surveyed stated that they have the people, skills, and resources required to execute their business strategies.
Many companies are now investing in robotics and automation more than human employees because machines can do a lot of tasks compared to them. Some of the top drivers include reduced cost (80%), improved quality (55%), increased productivity (54%), and improved capabilities of robots (54%). However, they also suffer from several challenges such as cost of robots (16%), lack of experience with automation (15%), lack of homogenous programming platforms/interfaces (13%), and lack of integrators working across OEMs/geographies/industries (12%).
Investments in AI Skills Training Will Grow This 2020
AI adoption last 2019 was overwhelming. A lot of businesses and industries are integrating AI applications in their productions, however, not everyone implements these properly. A 2019 study from Deloitte discovered that while 82% of large businesses in the UK are pursuing some form of AI initiative, only 15% can be considered ‘seasoned’ or mature AI adopters. As a result, organizations find it difficult to attract and retain talent with the necessary skills.
Thus, several educational institutions and organizations are heavily investing in developing new AI talent. According to Verdict, an online site that covers topics surrounding global technology, business, and innovation, the UK government announced a £370 million package of government and industry investment into 14 universities and 200 businesses, including the NHS and Google, last October 2019. This also includes training for 200 AI Ph.D. students across 16 new centers for doctoral training.
Investing in training AI skills plays a huge role in making sure that companies have competent employees to take over their jobs. Businesses are also getting involved. For instance, Microsoft announced earlier this year that it is aiming to train 15,000 new AI professionals by 2022.
|Automation in the workplace is rooted in economic theories on mass production and the ability to manufacture products efficiently and safely. However, it’s no secret that AI and automation can take on human work / Photo by: Nataliya Hora via 123RF|
Smart Homes and Buildings Will Become More Commonplace
The development of AI and automation will pave the way for more innovations to materialize, allowing our phones and other devices to run our homes, save energy, and increase comfort, no matter where in the world we may be. Currently, smart homes and buildings are places that we don’t usually encounter because we are only starting to adopt AI and the Internet of Things in our homes. But, in the next few years, we can expect to see them anywhere we go.
|The development of AI and automation will pave the way for more innovations to materialize, allowing our phones and other devices to run our homes, save energy, and increase comfort, no matter where in the world we may be / Photo by: scyther5 via 123RF|
AI Will Continue to Move Beyond Simple Automation
In the past few years, AI has automated the most simple things such as turning lights on and off. But it doesn’t stop there. A study by Gartner estimated that the demand for AI application development would increase five times faster than tech teams can deliver by 2021.
AI and automation are continuously growing and expanding, not only improving our lives but also changing the way we use technology.