AI and the future of work. How to prepare your business for change? | AI in business #108

What will NOT change in business in the AI and the future of work?

It is estimated that by 2025, AI will eliminate about 85 million jobs but create 97 million new ones. Employees who combine creative skills with technical and soft skills will still be needed. In a nutshell, they will guide the development of technology in line with corporate values and customer needs. This will certainly require excellent communication skills – both with people and, increasingly, with AI.

Moreover, responsible business decisions will still probably be made by humans. AI can provide analyses and recommendations, but the responsibility will still rest with people. Soft skills like team-building, relationship-building, creativity, and empathy will still be people’s domain. While AI will have a huge impact on the job market, some things will not change.

Automation or augmentation? Two approaches to AI

There are two main ways companies can benefit from the potential of AI. The first is automation, the second is augmentation, which means expanding possibilities.

• automation – thanks to it, AI can take over routine, repetitive office tasks, allowing people to focus on creative work and development. It is already estimated that about 60% of the activities performed by accounting departments can be automated,
• augmentation – AI can significantly expand employees’ capabilities, allowing them to work more efficiently by providing personalized recommendations, data analysis, or forecasts. AI can also help employees reach their full potential. In addition, according to a study by researchers at Harvard Business School, the use of AI can boost the productivity of professionals by up to 40%.

While many companies are already tempted by the promise of cost reduction through automation, it is worth considering a long-term strategy. A combination of the two will work better. After all, AI in the future of work can mean automating simple tasks and using artificial intelligence to enhance what is a company’s and its employees’ greatest asset.

Source: DALL·E 3, prompt: Marta M. Kania (https://www.linkedin.com/in/martamatyldakania/)

Training and developing employees’ skills in the AI era

Implementing AI in the enterprise is not just a matter of technology; it is first and foremost a matter of people and developing their skills. It is therefore crucial to invest in upgrading employees’ skills to use the new tools effectively.

Companies are already reporting strong demand for data analysts, AI specialists, and information security professionals. The number of job posts for these professionals has increased by an average of 17% over the past two years. At the same time, the need for training for all employees is becoming more urgent. It is estimated that up to 60% of the workforce will need it by 2027.

Training should focus on both the technical use of AI tools and the development of the soft skills needed to work effectively with artificial intelligence. To use AI in the workplace, employees need to learn how to:

• communicate effectively with AI, including creating prompts and “natural language programming”,
• critically evaluate AI recommendations,
• understand the technology’s limitations,
• deal with errors made by AI systems.

In addition, training will help them understand how AI can support their daily work. This will make AI a strong ally for them, not a threat.

How is AI changing the approach to recruitment and talent management?

AI will affect employees and the entire process of managing people in organizations. New technologies are already starting to support HR departments.

First, the initial hiring process will increasingly be supported by algorithms, giving recruiters more time to talk to candidates. In addition, AI systems such as recruitment chatbots will help set up appointments or ask candidates clarifying questions.

At the same time, however, the use of AI in recruitment poses certain risks. It is therefore important that systems are transparent and do not discriminate against potential employees. In the European Union, regulations (including the AI Act) are already being implemented to ensure greater control over the algorithms used in recruitment.

Strategies for implementing AI in small and medium-sized enterprises

Smaller companies can benefit surprisingly much from harnessing the potential of AI. The key, however, is to implement the solutions gradually and tailor them to specific needs.

First, consider automating simple, repetitive office tasks to relieve the workload. In addition, AI algorithms can support operational activities such as customer service, marketing, or sales.

At the same time, new tools should be introduced gradually to give people time to get used to the changes. You can start with small pilot projects and expand the scope of AI later.

Summary: AI and the future of work

In summary, the impact of AI on the labor market will be enormous. New AI-related roles will emerge, and the skills required of employees will change, as will the approach to recruiting and talent management. Some jobs will disappear, but new, more creative ones will be created. It will be crucial to invest in developing the skills of the workforce and to gradually implement AI so that it supports people, not replaces them. Despite the inevitable challenges, experts predict that humans and AI will ultimately create the future of the workplace.

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