Latest Gossip In The Tech World – Is Artificial Intelligence Capturing More Business Or Is It Replacing Workers?

In an ancient time, there was a clear distinction between the haves and have-nots, the Goliaths and the Davids. From SIRI to self-driving cars, artificial intelligence (AI) is progressing rapidly and science fiction often portrays AI as robots with human-like characteristics, encompassing anything from Google’s search algorithms to IBM’s Watson to autonomous weapons.

Advanced machines are becoming “smarter” & we rely more on them than never.

Guess what, it has already begun…

“Siri, remind me to book an appointment for a CAF office”

“Siri, call my doctor.”

“Siri, remind me to check my mail box.”

“Siri, remind me to submit an assignment”

In today’s generation, we all give a command to a super advanced technology. It is amazing and frightening both at the same time.

Now, technology is creating an advanced playing field causing the compact method used in all aspects of business to collapse. So, summon today from tangible assets of have and have-nots to intangible technology. If you know how to supplement your resources using the right technology then you stand a solid chance of winning the race against not only your competition, but also against the biggest rival, time. The very eco-system of sales is, that it thrives on information which is current and accurate.

It is magisterial that not only a business’s sales members but everyone should change their mind-set towards the role that technology is playing with our lives;  what is highly invasive compared to that which is complementing. It is terrifying that one day the AI will surpass humans and the technological singularity terms will be in the form of word – of – mouth communication.

The days where a sales person best friend was a phone number in order to connect with their customers are gone.  Now, the invention of smartphones, CRM apps; social media tools like Twitter, Facebook, and Linkedln are enablers to create any kind of lead generation activities, performing client research, and customizing sales pitch. A sales agent can establish leadership by using these platforms. Technology has moved vault and bounds and the person using it, it is expected to get more done with less effort so that more time can be dedicated to building strategies and invent innovative methods to increase the sales targets. The future is here and business needs to invest more not only on tools and technologies but in equipping  the sales people with necessary wisdom to get the most out of it.

For example, in Japan an insurance firm has a future in which employees are replaced with an Artificial Intelligence which is about to become a reality by calculating the payouts to policy holders. This will increase their productivity by 30% and see their return of investment  in less than two years. Fukoku Mutual Life Insurance uses IBM’s Watson Explorer, which possesses “cognitive technology that can think like a human”, enabling it to “analyse and interpret all of  data, including unstructured text, images, audio and video”.

“AI is not good at answering the type of questions that require an ability to grasp meanings across a broad spectrum,” said by Noriko Arai, a professor at the National Institute of Informatics. In the US and other parts of the world, there is no doubt that robots are having a transformative effect on the labor market and it’s a trend that’s likely to continue. Virtually no job is safe in this world as analyzed by the International Data Corporation.

To conclude, I think science-fictional future welfare state won’t be so terrible, particularly if machines replace dangerous, degrading & humdrum work. As humans we are an adaptable cluster, we know how to occupy by ourselves. There is a lot of news circulating relating to  AI these days, such as: can AI solve today’s big data dilemma or about its ethical issues. What do you have to say? The era of technological singularity has already begun…

#create #innovate #lead

Written by,

Shah Bibek

References

  1. https://futureoflife.org/background/benefits-risks-of-artificial-intelligence/ 
  2. http://www.triplepundit.com/2016/10/next-csr-challenge-engaging-artificial-intelligence/
  3. https://www.csail.mit.edu/ 
  4. http://www.benmeadowcroft.com/reports/impact/
  5. https://www.theguardian.com/technology/2017/jan/05/japanese-company-replaces-office-workers-artificial-intelligence-ai-fukoku-mutual-life-insurance
  6. http://www.oecd.org/sti/ieconomy/technology-foresight-forum-2016.htm

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