AI | Are companies ready?

According to a Talent Trends report by Randstad, “Artificial Intelligence, machine learning, and robotics will start a revolution.”

In a Deloitte Global Human Capital Trends report clearly emphasized that companies viewed AI as vital to their success, but they’re not making plans to address how it will change their organizations:

  • Despite 72% of companies viewing AI as important, only 31% feel ready to address it.
  • More than four out of ten companies (42%) believe automation will have a major impact on job roles over the next two years.
  • In the study, 55% of respondents predicted tremendous future demand for human skills such as cognitive abilities.
  • Despite having a clear understanding of the human skills needed in the future of work, 49% of respondents said they do not have a plan to cultivate these skills.

Why companies aren’t addressing AI

Artificial intelligence is a fully data-driven technology, not a solution that simply cannot turn on AI and expect it to work in an organization. Using AI in business involves cleaning up data, then creating or buying algorithms that will make your business process better this is not a one-size-fits-all process, however. It’s company-specific, and will probably take several years for each company to develop the best process for their organization.
For example, “If you have a salesforce and you want AI to ‘pick the best lead’ to follow up on, you will have to ‘train’ the software to do this well.” AI and machine learning will continue to improve during the training process — but don’t expect instant results.

Besides, organizations need to understand that even with the advent of AI, there will still need to be human skills applied to help ensure that the insights provided are accurate and make sense within the business context. Therefore, humans will always need to be in the loop.
Deloitte human capital report clearly emphasizes that “That requires not only identifying the type of work that individuals need to do, but also confirming that those employees exist within the organization or can be hired.”
Human skills will be in demand in an AI environment.

There’s a misconception that AI will require a wealth of tech skills.
If you look at workforce economics, only 5–6% of jobs are ‘writing software’ and the rest of us are using the software,” Instead, the growth is focused in other areas that focus on human issues: sales, service, management and customer success management, as well as marketing, analysis, and healthcare.

According to Deloitte’s report, service-oriented, emphatic, and analytical people will be needed.
“Skills like listening, empathy, communication, sales, and leadership are more important than ever,” explains Volini. That’s because the automation of routine transactional work is creating a demand for service and support.

The best example of this is bank tellers, who are now operating as salespeople, rather than workers who only focus on transactional work

Further, there is also a need for “robotic trainers, because, every new application of technology needs someone to ‘manage it’ and ‘train it;’ there are more than 30,000 such jobs listed on online career sites available right now. In addition to that, it must have a center of excellence team on the implementation of any new technology for an organization.

Cultivating human skills

While companies are creating programs to develop service, sales, and management skills, it’s good to develop other skills such as agility, flexibility, innovation, experimentation, and the ability to work in teams.
The problem is that people are not being given enough time to focus on learning and engaging in these experiences. Also, it’s often difficult for employees to find the right training for their job.
But, fortunately, learning technology marketplace is growing rapidly, making it easier for people to take training into their own hands.

“AI and robotics are changing the way businesses function by helping employers quickly attract and hire skilled talent while helping employees increase productivity,” says Jason Roberts, global head of technology and analytics in Randstad Sourceright’s Talent Innovation Center.

“But as the labor market continues to tighten, and more companies rapidly adopt robots in the workplace, it is increasingly important for human capital leaders to plan and determine which jobs may become automated so they can prepare their current workforce for the in-demand jobs of the future.”

Randstad’s report found that there are not many companies investing in on-site training programs that teach workers the skill sets they need for the changing labor market.
“Only 11% of employers said they plan to provide training or re-skilling programs to existing staff within the next 12 months,” Roberts says. “As the global workforce continues to tighten, reskilling current workers will become increasingly important for companies to meet their future hiring needs and boost employee retention strategies.”

In addition to that he says, “The U.S. is not competitive. Manufacturing costs are averaging about 40% higher than in China, due to wage rates, currency, workforce, subsidies, et cetera.”
So the solution id automates all the possible areas and improves the workforce skills. Because, “A skilled workforce is a key to successful automation, and high-tech factories are key to recruiting the next generation skilled workforce.”

Solution: AI-based employment.

AI being employed and provide a framework for how companies should begin to build up their cognitive capabilities in the next several years to achieve their business objectives.
Three Types of AI
It is useful for companies to look at AI through the lens of business capabilities rather than technologies. Broadly speaking, AI can support three important business needs: automating business processes, gaining insight through data analysis, and engaging with customers and employees.

• Process automation.
• Cognitive insight.
• Cognitive engagement.

Every large company should be exploring cognitive technologies. There will be some bumps in the road, and there is no room for complacency on issues of workforce displacement and the ethics of smart machines. But with the right planning and development, cognitive technology could usher in a golden age of productivity, work satisfaction, and prosperity.