AI News, AI Comes to Work: How Artificial Intelligence Will Transform Business artificial intelligence

AI Comes to Work: How Artificial Intelligence Will Transform Business

The modern field of AI came into existence in 1956, but it took decades of work to make significant progress toward developing an AI system and making it atechnological reality.

Although AI currently has a difficult time completing common-sense tasks in the real world, it is adept at processing and analyzing troves of data far more quickly than a human brain could.

Those traits make AI highly valuable throughout many industries, whether it's simply helping visitors and staff make their way around a corporate campus efficiently or performing a task as complex as monitoring a wind turbine and predicting when it will need repairs before it breaks down.

Machine learning, which is a subsection of AI that works to analyze data and identify patterns, is used often in systems that capture vast amounts of data.

The large troves of data captured are then often contextualized by machine learning algorithms and delivered to human decision makers to better understand energy usage and maintenance demands.

But by applying AI to these sorts of platforms, a normal CRM system is transformed into a self-updating, auto-correcting system that stays on top of your relationship management for you.

[For those in brand new companies, read our report on crm tools for startups] Another example of AI's versatility is within the financial sector.

Dr. Hossein Rahnama, founder and CEO of AI concierge company Flybits and visiting professor at the Massachusetts Institute of Technology, worked with TD Bank to integrate artificial intelligence into regular banking operations, such as mortgage loans.

"In the next five to 10 years, AI and specifically deep learning will enable robots to do some of the basic tedious and time-consuming tasks that we do each day,"

Sounds like a job for augmented reality.] With all these new AI use cases comes the daunting question of whether machines will force humans into obsolescence.

some experts vehemently deny that AI will automate so many jobs that millions of people find themselves unemployed, while other experts see it as a problem in pressing need of a solution.

It might be a little bit theoretical, but I think if you have to worry about AI and robots replacing our jobs, it's probably algorithms replacing white-collar jobs such as business analysts, hedge fund managers and lawyers."

[For example,] a tax accountant won't one day receive a pink slip and meet the robot that is now going to sit at her desk.

Husain pointed to self-driving trucks and AI concierges like Siri or Cortana as examples, stating that as these technologies improve, widespread use could eliminate as many as 8 million jobs in the U.S. alone.

As this technology develops, the world will see new startups, numerous business applications and consumer uses, as well as the displacement of certain jobs and the creation of entirely new ones.

How Artificial Intelligence Will Transform Your Business (and Everyone Else's)

appears to be healthcare, with $400 million invested by health care companies in the technology as of last year, a figure that's projected to grow to$3 billion or more by 2020, according to data from the BeaconCenter for the Study of Evolution in Action.

The Future Of Work: How Artificial Intelligence Will Transform The Employee Experience

Artificial Intelligence is on the verge of penetrating every major industry from healthcare to advertising, transportation, finance, legal, education, and now inside the workplace.

Many of us may have already interacted with a chatbot (defined as an automated, yet personalized, conversation between software and human users) whether it’s on Facebook Messenger to book a hotel room or ordering flowers through 1-800 flowers.

As we increase the usage of chatbots in our personal lives, we will expect to use them in the workplace to assist us with things like finding new jobs, answering frequently asked HR related questions or even receiving coaching and mentoring.

According to Deepak Bharadwaj, General Manager, HR Product Line, ServiceNow 'By 2020, based on the adoption of chatbots in our personal lives, I can see how penetration in the workplace could reach adoption rates of as high as 75% with employees accessing a chatbot to resolve frequently asked HR questions and access HR solutions anywhere and anytime.'

There are already a growing number of technology firms targeting HR with artificial intelligence solutions for sourcing (Textio), interviewing (MontageTalent), on-boarding (Talla), coaching (mobile Coach), social recognition (growBot), and employee service centers (ServiceNow).

Capital Group is piloting a number of artificial intelligence technologies in HR, from using Textio to write more effective and bias free job descriptions to using predictive analytic web based video interviewing through the MontageTalent platform.

This group identified a number of barriers to using artificial intelligence in HR, namely the fear of job loss among HR team members, lack of skills to truly embrace these new technologies and the change management needed to adopt to new ways of sourcing, recruiting, and engaging employees.

Understand the implications of implementation on the technology roadmap All new technology based initiatives such as using artificial intelligence in the workplace require the design of atechnology roadmap outlining the short-term and long-term goals and how the organization will meet these goals.This means the cross functional team of HR, IT, and Digital Transformation will need to agree on a shared vision for employee experience and define the technology roadmap to bring this vision to reality.

I interviewed Mark Levy, the first Head of Employee Experience for Airbnb in a Forbes column, “The Workplace As An Experience: Three New HR Roles Emerge.” This role is responsible for bringing to life the Airbnb mission of Belong Anywhere to life by creating memorable workplace experiences which span all aspects of work space, recruitment, development, volunteer experiences, and even the menus in Aribnb facilities.

This role applies many of the scrum techniques used in software development to recruiting by breaking down the massive hiring needs into incremental and iterative steps, where the highest value hiring challenges are addressed first for the hiring manager.

How ML and AI will transform business intelligence and analytics

For 10 years the prevailing trend in business intelligence (BI) and analytics has been the move toward self service.

In 2018 and beyond, we'll see a growing list of what many call 'smart' capabilities powered by machine learning (ML) and artificial intelligence (AI).

Expect a steady drumbeat of announcements throughout 2018 and beyond about ML applied to tasks including cleansing and combining data, discovering new data, and suggesting new combinations of data that could, in turn, uncover important insights.

Some vendors are now using more advanced NL capabilities that can discern nuances and intent in complete sentences (whether typed or translated from voice with speech-to-text capabilities).

In these cases, the data analysis can be tuned to deliver recommended next steps or even to automate actions sure to lead to desired outcomes.

These emerging capabilities will make BI, analytics, and data-driven decision-making that much more accessible, understandable, and actionable for non-technical business users, but embracing the new won't be as easy as waving a magic wand.

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