THE AI THREAT AND FUTURE OF WORK

The robots are coming for your jobs, so they say. In an age where jobs are rapidly being over taken by the new wave of robot intelligence, it is surely fear inducing for people which are on the precipice of being left out. But yet this fear is not new, nearly two centuries ago the same thing happened, in retrospect we now call it the “industrial revolution”, however people of those times did not seem to think so, they spoke of the “demon of mechanism” where this “demon” possessed huge disruptive power to dislodge whole industries of workmen.

​Today AI(artificial intelligence), is threatening the same, with ever looming implications as with two centuries ago. The impact of the new wave of AI is set to be profound, workers with jobs whom were previously thought to be impossible to automate are being threaten, from legal clerks to accountants to radiologist. ​Carl Benedikt Frey and Michael Osborne from Oxford estimates that 47% of jobs in the US are “at risk” of being automated in the next 20 years.

The AI Game Change

Begging the question, what will happen to the ones affected. In short Automation will inevitably lead to redundancy in certain roles. It’s only logical to assume that if AI robots are capable of performing the majority of a lower-skilled employee’s tasks, it’s makes much more economical sense when making a business decision to shift those roles to technology, this in turn makes certain roles obsolete. This doesn’t necessarily mean, however, that we’re doomed to a future of AI taking over all jobs. The truth is that while automation may eliminate some jobs, the silver lining would be that it also creates new roles and opportunities for human workers to pursue.

It is also inconceivable to think that all roles would be easily replaced by AI, rather then see it as machines and humans working independently, the two should be working in tandem toward the greater good of an organization. For example, process automation can be used to take care of most of the menial tasks, taking over repetitive IT tasks while seamlessly transferring more complex decision making to human workers. AI can also be highly effective in helping business leaders make smarter, more data-driven decisions.

As artificial intelligence continues to experience exponential growth, the very definition of what we consider to be mundane or routine will also continue to change. With smarter technology, more and more tasks will be shifted to machines which can handle the data mining process, identifying, extracting and organizing the most relevant information available. Managers can then use this information to more accurately project and plan for the future.

What sort of future work?

Technology as a threat and as a job creator, artificial intelligence will create all sorts of work, To take one example, more and more people are supplying digital services online via what is sometimes dubbed the “human cloud”. Although odd it would seem that, many are offering their services in response to AI. Employers are also starting to see the “human cloud” as a alternative way have work done. White-collar jobs are chopped into hundreds of smaller projects or tasks. So long as they have an internet connection, anyone is able to take up these tasks, they make up the “human cloud”.

Some of these tasks are as simple as looking up phone numbers on the web, typing data into a spreadsheet or watching a video while a webcam tracks your eye movements. Others are as complex as writing a piece of code or completing a short-term consultancy project. These jobs typically bring in at least a few dollars an hour.

In 2016, firms such as UpWork, and freelancer.com earned about $6bn in revenue, according to Staffing Industry Analysts, a market researcher. There are those who prefer to have work in smaller bites, for these people, they can use “micro-work” sites such as Mechanical Turk, a service operated by Amazon, which in 2011 boasted, 500,000 “Turkers”. These “Turkers” then perform tasks such as translation, audio and video transcription, categorization and tagging, often earning no more than a few cents for each “human-intelligence task”.

Microsoft Research, see services such as UpWork and Mechanical Turk as early signs of things to come. They expect much human labour to be split up into separate tasks, which can be delivered online and complimentary with AI offerings. For example, tour agencies could potentially use AI to handle routine tasks, like booking tickets, more complicated tasks such as planning for custom itineraries would then be handled by humans.

The AI threat is looming and will be exciting for companies which are willing to embrace the future, for workers affected it is disconcerting on the onset but a silver lining exists and would represent opportunities for new job creation. Hence, AI should not be feared, but embraced.

Author: Xaltius

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WILL OUR FUTURE HAVE UBER FOR EVERYTHING?

When someone says Uber, the first thing comes in our mind is the excellent cab service that we are using so frequently. Millions of riders globally love this service so much that it has become its own verb now. It is the service which can be reserved anytime or can be delivered to you anywhere.
New companies are trying to implement this business model to compete in the market. It all depends on the market capture and greater market capitalization than their rivals. But most of them are limited to the particular geographic markets.

If we do the analysis to determine which companies and which markets will be truly transformational, we need to look for those who can provide a service where the greatest percentage of crowd is in pain and unhappy with the existing providers. Many service sectors suffer major challenges in terms of availability, quality, transparency, and pricing, which leads to innovation ideas.

Reliability
The important thing of most On Demand Mobile Services is to use the smartphone as your life’s remote control, so that when you click the button for your things need to happen, as fast, consistent and accurately as possible. Uber service leverages local network effects between its users, and invests heavily in Machine Learning and algorithms to ensure minimum waiting time for riders and busy schedule for drivers to facilitate them more income. Without short wait times Uber would not be nearly the magical experience today we all love.

Service
Businesses which include services are so hard to create because they are dependent on people to interact with customers directly. Managing a group of people, is a lot more tedious task than executing software routines. For any geography, recruiting, selecting, training, and managing workers is a core element of any ODMS. Background checks, license verification, detailed applications and face to face interviews are all part of the selection process.

There are simply no shortcuts when it comes to satisfy market and delivering consistently great services levels. At last, quality can make or break a business regardless of whether they have the best looking mobile app or any other UI stuff.

Price
It seems that tech enabled services are much more efficient than traditional businesses at acquiring customers and aggregating demand through digital channels, efficient marketing, and highly visible brands. This often enables cutting out hidden layers of middlemen in the value chain. Passing a good portion of these savings on to consumers is perhaps the smartest way to generate trial, grow quickly and hook customers on your service.

Payments
Customers expect that effortless payment should be in a service that has been newly redefined as on demand and mobile. The nice part is that this also solves many business model problems around the workers handling cash or credit card numbers, and leakage from your workers attempting to cut you out of a side deal they offered your customer. Over time, however, we will see the clear majority of ODMS handle payments in the background as part of the consumer experience.

So, will there be an Uber for every service industry? There will be some, but not many in terms of a global, dominant, hugely valuable iconic brands. Some industries are just not important and/or frequent enough to our daily lives, or unpleasant enough as they exist today, whereas other industries face service challenges so fundamentally hard to solve that it will be a long while before we see an ODMS truly solve them.

So, while there may only be a handful or so of Uber-sized winners, there will be many smaller ODMS who find some degree of success, and the biggest winners of all will be consumers themselves.

Author: Xaltius

This content is not for distribution. Any use of the content without intimation to its owner will be considered as violation.