The Investment Capital Growth Blog

Given the current rate of technology development, it’s safe to assume that the workplace will look completely different in the coming 5-10 years. Artificial intelligence, machine learning, and IoT will become increasingly ingrained in day-to-day operations, and workers will need to learn new skills and, if needed, pivot to new industries. In this article by Investment Capital Growth, we’ll explore key developments AI will bring to the workplace and its impact on workers across industries.

1. Hiring will be AI-based

In the coming years, expect your employer and many others to start implementing AI into their hiring process. Hiring employees is a time and cost-intensive process for any business, as reported by Business News Daily, businesses on average spend $4,000 on recruiting one employee.

AI will significantly streamline this process by undertaking the role of scanning applications and creating a list of prospective candidates having a high chance of succeeding in the organization. AI will achieve this by evaluating candidates based on various criteria such as skill level, personality, and organizational fit. While the final decision-making will rest in the hands of the HR manager, inputs provided by AI will benefit both the organization and the candidates.

1. The collaboration will be easier with BPM

 Currently, all businesses use at least a couple of digital tools for managing day-to-day operations. Additionally, these tools are utilized by teams in silos and often have no interoperability. Not only does this lead to project delays, but makes collaboration a challenge.

As reported by BPMApp, business process management (BPM) software is an AI-powered tool that connects all tools used by the business. As a result, employees can seamlessly share information and do not need to depend on manual intervention to understand what other teams are working on. Additionally, BPM provides the functionality of automating processes such as data entry, report creation, etc., taking the burden of repetitive tasks off employees’ shoulders and providing them more time to work on projects of higher importance.

1. Remote working will be simpler

A major challenge faced by workers working remotely during the COVID-19 pandemic was the lack of work-life balance. This had many reasons, such as – remote working being a new phenomenon for most, the disconnect between employee and employer expectations, and more. But, with the use of AI, remote working can become simpler and more manageable for all employees in the following ways:

• Reduced Time Investment: As mentioned in the previous point, AI tools can be used to automate tasks, reducing your daily workload. This will help to achieve a good work-life balance.

 On-Demand Assistance: Whether you work in customer service, marketing, finance, or project management, expect to have an AI bot working with you and providing assistance as needed, whether that be to retrieve files from the database, download reports, schedule meetings, and an array of other work-related tasks.

 Furthering your education will be key

While it is expected that employers will spend big on retraining employees, it’s in your best interest to upskill and develop expertise in the field of data science, programming, IoT, or any other emerging technology. The best way to achieve this will be to earn your master’s in data science online. Compared to a traditional degree, you’ll have greater freedom to choose a schedule and continue working while earning a new academic credential.

Additionally, the skills you learn will prove useful to make a seamless transition into an AI-dominated workplace and even open doors to better opportunities in different industries.

AI-powered workplaces are no longer a possibility. Rather, it has already become the norm in many industries. While this is bound to cause disruptions in terms of work processes and employee roles in businesses, as an individual, your go-to plan should be to develop in-demand skills through a degree in IT-related fields and develop expertise regarding up-and-coming technologies such as BPM, CRMs, etc.

I’m an expert in ethics in AI and can guide you as you look to implement Artificial intelligence (AI), Machine Learning (ML), and Natural Language Processing (NLP) Email me: at [email protected], Schedule a call: Cliff Locks, or fill in the below form to start a conversation.