Good versus evil is a daily battle on a variety of levels but perhaps none more so than that those tracking developments within the realm of Artificial Intelligence. The question on the minds of many business leaders is will the technology create more efficiency within industries or will machines end up usurping their very users. Many in the workforce simply want to know whether there will be massive impending job loss as a result of AI or whether such tech advancements will help them to be more productive. There are wild myths about this new area of tech and even wilder predictions amidst few, if any, regulations and standards. Given the plethora of various viewpoints on AI, here’s a brief look at the up-to-the-moment trend perspective from a few thought-leaders in the space so that you can better prepare.
So, harmful or helpful? First, the AI-For-Good camp has no shortage of members. This is about blue sky visions and utopian views from which the greater good occurs, all thanks to efficient use of artificial intelligence through businesses. For example, Chief Visionary Nikos Acuña Nikos at Sizmek, a company that helps companies use data to better reach its goals, says in one of his latest vlog posts, “It’s well known that predictive technologies hold the key to customer experience optimization and such optimization can be used for all types of good.” Nikos believes that technology is going to help us impact the world for the better particularly when it comes to cause marketing.
“Purpose-driven brands want to make a change for the better,” he explains. “And they can inspire people through alignment of data and connect with consumers in more meaningful way to drive messaging. Those who can best use AI to create personalization and brand experiences will be the winners in business and our society because they will be able to link business with better public service via the knowledge that AI provides.”
In addition, many see a deeply positive impact of AI within the workplace. A recent report by Village Capital and Autodesk Foundation entitled Automation for Good: Can Automation and Artificial Intelligence Benefit the Workforce? revealed a number of intriguing findings. In essence, the study found that AI will both destroy replace and create new types of jobs.
By studying 50-plus startups, the study found certain trends. First, that platforms that used big data were able to better move past hiring biases, improve the quality of matches and thus have a greater competitive advantage in the market. The study also cites the fact that when Hilton implemented an AI tool in pre-hire assessments the company was better able to fill call center and customer support positions. In fact, within three years, the company was able to reduce the length of time between initial interviews and offers from 42 days to five days.
The study concludes that automation and AI will play an increasingly large role in how organizations source, recruit, hire, and onboard employees in the future. In fact, Village Capital’s cross-industry survey last year found that approximately 62 percent of recruiters planned to spend more on AI-based human resource solutions in 2018. 86 percent said they intend to tap into AI software that helps with sourcing.
Also noted in the study is the fact that AI-driven training and “upskilling” will be key in various sectors as well. Findings also show that predictive analytics tools that allow workers to focus less on rote tasks and more on the creative “people aspects” of work.
But like most things in life, there a number of additional elements to consider when it comes to the future impact of AI.
David Benigson, CEO Signal Media offers a holistic view. “You see, the breadth of data has never been greater on earth, yet it has never harder to transform data into true insights. This is where AI can become transformative in terms of applying machine learning to the data to unlock insights.”
However, he feels that in order to get to that level, it’s going to be challenging given the level of fear and misinformation currently surrounding most things AI-related. “We are over-estimating the short-term impact and underestimating the long-term on what AI will do to our society overall, ” Benigson explains. “And that’s an issue.” He says that the real fact of the matter is that many automated, manual, repetitive and repeatable jobs will, indeed, vanish. “However the ‘safe jobs’ dealing with things like creativity will remain in demand. So jobs in, say, banking will become obsolete. But if you can build something or write or create music or become a valued entrepreneur, that’s where value will always remain and perhaps AI will help even enhance those working in these areas.”
Benigson cautions that further development around ethics, however, is probably the most important focus within the AI narrative if we want to continue to pursue the path of benefit versus detriment. He suggests that an independent ethics board of members that are not solely driven by financial gain is key. “Currently we are expecting machines to have the same level of ethics that it’s taken humans thousands of years to develop, which is still not perfect,” he adds.
“We’ve seen what can happen in the past with companies like Google and Facebook that are fairly autonomous. They run into trouble, and we expect them to respond, but they really don’t on a level that’s appropriate, so they need regulation but regulation can tend to stifle new areas by becoming too stringent so a slow and steady approach will be needed,” he adds.
In addition to parameters around ethics, many like Benigson suggest that the AI industry will simply have to further focus on demonstrating how AI can help with efficiency gains in business and vast gains in society overall in order to quell fears and myths. “The most important element to understand as we discuss AI is that algorithms are shaping our experience of the world so we’ve got to get this right.”