The truth about AI’s impact on the global workforce

As we gear up for 2024, it’s hard to turn a corner or pick up a newspaper and not hear rumblings about the next big thing in artificial intelligence. With the recent unveiling of President Biden’s AI Executive Order, new AI startups seemingly launching daily, and the increasing availability of generative AI platforms (just one year post-launch, ChatGPT has 1.5 billion visitors per month), AI is being placed under a microscope, and rightfully so.

What was once a futuristic anomaly is now available and accessible to everyone, every day. With so much power at our fingertips––both literally and figuratively––and considering AI is still a relatively nascent technology, the urgency to put certain guardrails in place around the technology is only natural. Especially with employees across industries expressing concern about what AI means for their jobs and looming fears from workers who believe their roles could be replaced by technology. As such, it’s critical to keep in mind that humans are in control of how AI makes decisions and AI at its core is designed to augment human needs and serve the betterment of society, not work against us.

While we expect to see AI open even more doors and offer new capabilities in the years to come, there’s a plethora of ways the technology can take work productivity to the next level today. As we look towards the future––and specifically at how AI will impact the workplace––it’s all about working smarter, not harder.

Adopt AI or fall behind

The adoption of AI––driven by open-source frameworks and cloud resources––is making the technology accessible to everyone. With AI on the precipice of becoming the everyman’s tool, society stands at a critical juncture where we must decide if and how we want to incorporate it into our daily lives.

No matter your job function or industry, it’s inevitable that artificial intelligence will enter your workplace (if it hasn’t already), seeping further into our everyday workflows and processes. Simply put: those who are not leveraging AI at work are putting themselves at a disadvantage. In fact, recent data shows that AI-empowered professionals will continue to outpace those who don’t take advantage of this era of transformation.

Businesses are increasingly looking for ways to automate processes and enhance efficiency. AI, with its ability to automate tasks, analyze data, and make predictions, is well-suited to meet these needs. Plus, the increasing availability of powerful and cost-effective computing resources (often provided by cloud services) is providing businesses of all sizes with democratized access to high-performance computing.

AI advancements have made it easier than ever to search, manage, analyze, and secure operations, providing digital transformation to organizations and cities around the world, and enabling employees across industries to focus more on what matters. As more organizations leverage AI––bolstering human ability and taking operational efficiencies to the next level–– they’re seeing the results ultimately enhance their bottom line. Whether it’s decreasing turnaround time, enhancing accuracy, or improving safety and security, the reality is that any organization not taking advantage of AI systems face the risk of falling behind those who have successfully integrated the technology into their daily tasks.

AI for all workers

There’s a common misconception that only white-collar, desk-bound employees will benefit from the adoption and deployment of artificial intelligence, but that couldn’t be further from the truth. Recent AI advancements and the launch of new solutions are providing an extra set of hands and eyes for frontline workers as well. Whether reducing human error or improving efficiencies, AI has the power to turn our everyday devices into AI assistants.

Advances in machine learning algorithms, including deep learning, have significantly improved the performance of AI systems. These algorithms can automatically learn and adapt from data, making them powerful across various applications. From pharma and retail, to manufacturing and logistics (just to name a few), AI-powered technology has the ability to optimize work performance in every industry. This becomes especially critical given that 83% of U.S. workers today find themselves suffering from work-related stress

For companies looking to boost productivity and accomplish daily tasks with ease, AI has the power to deliver valuable insights, minimize biases, and enhance decision-making. Taking human skills and ability to the next level, AI empowers employees by making day-to-day tasks easier than ever before. This includes (but is certainly not limited to) –

• Training & upskilling: Enhance on-the-job training with real-time assistance and effective collaboration, making it possible to train personnel for specific tasks without the trainer’s physical presence.
• Factory and line work: Achieve fast and accurate machine recognition as well as itemized counting, inventory audits, and assembly kitting.
• Pharma: Accurately identify and quantify medication, greatly reducing the manual labor of counting pills while eliminating human error.
• Supply chain: Detect defects and anomalies for improved accuracy, increasing bottom line by actively reducing lost revenue incurred from manual mistakes.
• Manufacturing: Digitalize meter and gauge reading and monitoring, as well as part number identification, with the ability to turn analog information into digital data.
• Transportation: Enhance safety and security for operations including loading and unloading tanker trucks, protecting personnel as well as products and equipment.
• Retail: Ensure correct item identification and organization, providing increased accuracy for retail checkout and product categorization, ultimately impacting revenue streams.
• Quality and maintenance exams: Ensure accurate measuring of dangerous carcinogenic chemical compound levels, electrical wiring, welding inspections, and more for optimized safety across the board.

And the list goes on. Even for professionals outside of the industries listed above, AI inherently brings with it such dynamic capabilities that the technology can be tailored to meet any business- or employee-specific need imaginable. AI is truly for all workers, and it’s not coming to take your job; rather, the next wave of AI is providing the tools needed to help employees across the globe do their jobs better, and more efficiently.

Looking toward the future

With today’s increasingly volatile economic environment––where organizations everywhere are strapped for resources and looking to do more with less––there’s never been a more critical time to incorporate artificial intelligence into your tech stack.

Related: Breaking barriers: How AI will transform hiring & HR in 2024

As we look towards the future, AI’s applications will only continue to expand. AI has officially become a strategic necessity for efficiency, speed, and competitiveness –– and businesses that don’t adapt face the risk of paying the price and lagging behind their competitors. Cutting-edge technologies are offering even more possibilities for enhancing experiences and as AI’s integration into our daily lives continues to accelerate, embracing this transformation becomes essential for staying ahead of the curve.

David Ly, CEO & Founder at Iveda