Artificial intelligence (AI) is the phrase that pays in boardrooms across the globe, touted as the cornerstone of digital transformation programmes.
There is no shortage of angst when it comes to the impact of AI on jobs. In fact, research revels that people in the workforce are likely to express worry than enthusiasm about a future in which robots and computers are capable of doing many jobs that are currently done by humans.
But, do we really understand what the term means?
Artificial intelligence vs automation
AI is often confused with automation, yet the two are fundamentally different. The key difference is that AI mimics human intelligence decisions and actions, while automation focuses on streamlining repetitive, instructive tasks.
Is AI replacing human jobs?
On the contrary, according to a report by global IT consulting firm Gartner, AI is estimated to create around 2.3 million opportunities by the year 2020.
At least one set of experts believes jobs will be shredded, but not eliminated. Instead of worrying about job losses, executives should be helping to reduce jobs in which AI and machine learning take over boring tasks, while humans spend more time with higher-level tasks.
Jobs will be enriched and elevated by AI and machine learning, but the best jobs will be those created to employ AI that links customers to the services and products they need.