The rise of Artificial Intelligence trends (AI) in the workplace to enable and sustain the digital workforce is an apparent trend for 2020. Simply put, AI is an area of computer science that emphasizes the creation of intelligent machines working and reacting like humans. AI technologies including Machine Learning (ML), Deep Learning, and Neuro-linguistic programming (NLP). They have transformed how processes are monitored and managed across organizations, public spheres, homes, and institutions. As AI continues to expand in 2020, it will have a significant impact on our lives both, in the private and public spaces.
Artificial Intelligence trends enabled digital workers in a transformed workplace
According to IDC research, the contribution of software robots and AI will rise by 50% before 2022. Digital applications will emerge in medical intelligence, machine learning technologies, tools for software development, automatic learning of new tasks, education, learning and development, personalization, and AI-driven customer experiences. Without a doubt, AI will be a tool in the transformation of the digital workplace. Like augmenting, and focusing on human efforts by delivering information based on users’ context.
1. A digital worker for every human worker
Previously, humans were chief operators for any kind of work. But tomorrow, robots will be trained to carry out tasks like other employees at a much faster pace. They will be used in streamlining processes, enhancing operational efficiencies, unlocking meaningful opportunities from data, and uncovering revenue streams. This will motivate employees to mold themselves into roles that are more meaningful, engaging, and impactful.
2. Process Intelligence
Process Intelligence enables organizations to better understand and more effectively manage their processes end-to-end. Organizations use the information in their systems to create a visual model of their processes for analysis. This helps in the identification of outliers and bottlenecks for the prediction of future outcomes. For higher visibility, organizations have to leverage Process Intelligence technologies that provide a comprehensive, accurate, and real-time view of all processes across departments, functions, personnel, and even different locations.
3. Artificial Intelligence in enterprises
A Gartner Survey reveals 37% of organizations have implemented Artificial Intelligence in some manner. The real value of AI for enterprises is its ability to tackle mundane automated tasks. This frees human marketers to focus on bigger-picture strategic and creative thinking. By 2020, process owners and those leading improvement initiatives for the customer experience will observe a dramatic increase in access to Artificial Intelligence tools. AI will become much more easily consumable in the workplace. Business users will soon have access to internal marketplaces of robots and other easy-to-use automation tools. These new platforms will play a pivotal role in an efficient workflow to improve customer experiences and processes are better than the competition.
4. Artificial Intelligence tools for monitoring and improving business processes
Business users will soon have access to internal marketplaces of robots and other easy-to-use automation tools for technical proficiencies. AI-enabled tools will reshape and redefine how business processes are executed in real-time. Moreover, these will provide digital workers the required skills and knowhow to deal with natural language, reasoning, judgment, establishing context, and provide data-driven insights.
Example: RPA tools alone aren’t intelligent robots built with AI. They require AI-powered solutions to achieve intelligence. As a result, the role of RPA is to automate repetitive tasks that were previously handled by humans.
5. Digital IQ
This plays an important role in every digital transformation strategy as the organizations must have visibility into their operations. Digital intelligence solutions will help organizations increase this business-critical ability by optimizing automation initiatives and complementing platforms like RPA and BPM.
Human and AI collaboration in a hybrid workforce
CEO of Google Sundar Pichai once said that everything in Google is going to be AI centered. This meant that AI will create numerous job opportunities that will require creativity, critical thinking skills, and much more.
The emerging amalgamation of the human and robotic workforce shows immense growth. Organizations are implementing cognitive AI and RPA to handle high-volume and repetitive tasks. Employees should, therefore, have transparency on how AI will be used and how this will influence the work of humans in an enterprise.
Human interaction with AI will increase in comparison to the present level. It is anticipated that the human workforce, AI-powered tools, digital workers, and bots will work hand in hand in day-to-day processes. As we live and work alongside AIs like Alexa, Siri, Cortana, and other digital assistants, it is important to determine how your future intelligent digital worker will be.
AI-enabled future technologies
AI will be integral in our lives by automating our daily tasks. This will make intelligent systems even more intelligent with innovation in self-driven cars and smart homes. Here are a few use cases of AI technologies that currently exist in limited functionality or limited scope.
- AI assistants
- AI-based medical diagnosis
- Autonomous payments
- Autonomous vehicles
- Bionic organs
- Conversational agents
- Smart cities
- Smart dust
Extended Reality (XR)
Alongside XR technologies like Virtual Reality (VR) or Augmented Reality (AR), start-ups are experimenting to introduce touch, taste, and smell to enhance these immersive experiences with the support of AI technologies. In Mixed Reality or MR, users interact with a new environment created by merging real and virtual worlds. As per technology research, the AR-VR market will hit 192 billion U.S. dollars by 2022.
Example: Designers in the automotive industry like Jaguar, Ford, Audi, Volkswagen, and Mercedes have created AI-enabled 3D experience in terms of a car’s look, feel, and drive using XR tools. Here, by applying XR solutions, car producers offer augmented and virtual car configurators, showcasing of exterior accessory parts, virtual test-driving, and virtual showrooms.
Robotic automation is happening at a rapid pace. Admittedly, robotic engineers are constantly thinking of ways to create robots who behave like humans, interact like humans, and think like humans. As per Oxford research, 47% of US jobs could be automated in the next 20 years.
The future generation of engineers is increasingly moving towards the direction of robotics by pursuing several courses and programs in the subject matter. Needless to say, robotics has the tremendous power to transform our future in multiple ways:
- Education – Humanoid robots make learning personalized and help students learn in different ways.
- Household – Robots connected with AI-based cloud technologies can do simple cooking tasks and other daily chores.
- Workplace – Robots recognize voices, comprehend various sounds and instructions. Also, communicate over voice commands to perform simple tasks.
- Healthcare – Robots understand the patient’s condition and diagnoses symptoms. Moreover, provide initial first-aid and set up further meetings with doctors.
- Fun companion – Robots play interactive games across various devices. Virtual reality is becoming the buzzword for this decade.
Due to the common occurrence of robots across workspaces and households, humanoid aesthetics will be an important factor in the adoption of new robots. Thus, consumer-friendly robots can shape the future of our digital world.
AI and FinTech
AI has been a game-changer for FinTech. Hence, to battle against financial fraud and data breaches, AI has been a groundbreaking element. ML algorithms can analyze millions of data points in a matter of seconds to identify anomalous transactional patterns. As a result, AI will influence the FinTech space positively with solutions to use predictive analytics for the following:
- Real-time decision – derived from insights and big data
- Automated Bookkeeping Systems
- AI-powered platforms to prevent malicious practices
- Personalized customer support with Chatbots
- Automated virtual financial assistants with human-like interactions
- Revolutionized Due Diligence Process
- Data-Driven Client Acquisition with AI-powered tools
- Automated Trading Systems via ML and Deep Learning
- Virtual and augmented-reality based tools for wealth management plans
- Predictive analysis and forecasting with data-driven AI
- Real-time insight management for Wealth Managers for a targeted wealth advisory
The future of FinTech depends on AI-enabled digital assets in financial institutions.
Artificial Intelligence trends can obviously reshape and redefine the way we live and work. Moreover, digital tools will help create new user experiences, better outcomes, and ensure timely and efficient achievement of goals. The key areas where AI will impact our lives include autonomous vehicles, deep fakes, small data, and deep learning, voice and natural language processing, human and augmented intelligence, bias, and explanation of the outcomes.