Angel is the Founder & CEO of Vadera Capital, a leading fintech company.
Rather than turning a blind eye to the inevitable, my company has chosen to embrace the potential of AI to optimize our daily operations. We employ AI to automate mundane tasks like email correspondence and data collection, while also keeping tabs on the latest sales figures. To me, the idea of a world where the final human worker clocks out appears to be closer than we may realize.
The concept of artificial intelligence (AI) taking over jobs once performed by humans is not a new one. Andy Kessler said in The Wall Street Journal (paywall) in 2016, “Simply put, jobs that robots can replace are not good jobs in the first place. As humans, we climb up the rungs of drudgery—physically tasking or mind-numbing jobs—to jobs that use what got us to the top of the food chain, our brains.”
While many have debated the potential consequences of such a shift, few have considered what it would feel like to be the last human clocking out.
Imagine the scenario: It’s the end of a long day at work, and you’re tired. You look around and see that all of your colleagues have already gone home. You’re the last one left. As you walk to the time clock to punch out, you realize that this will be the last time you do it. Tomorrow, AI takes over your job.
For many people, this scenario is not so far-fetched. As AI continues to develop and become more sophisticated, “computers, intelligent machines and robots seem like the workforce of the future,” according to Elon Musk.
From factory workers to office assistants and from cashiers to truck drivers, the list of jobs that could be taken over by machines is growing every day. The reality is that the landscape of work is likely to change.
So what would it feel like to be the last human clocking in? It’s difficult to say, as everyone’s experience will be different. One thing that is certain to me, however, is that any transition to an automated workplace would not happen overnight. It would be a gradual process, with some jobs being automated before others. This means that those who were the last to clock in would likely have seen the writing on the wall for some time, and will have had plenty of time to prepare themselves for the change.
One potential benefit of this gradual shift is that it would allow people to adapt to the new reality. They would have time to learn new skills and explore new opportunities, rather than being thrown into unemployment overnight. This could help to mitigate some of the negative effects of automation, such as job loss and income inequality.
Of course, for those who have spent their entire lives working in a particular industry, it can be difficult to imagine doing anything else. And for those who lack the skills or education to transition to a new job, the future may look bleak.
So what can business leaders do to help those who may be left behind by automation? There are several potential solutions. Here are five tips I am currently using and encourage other leaders to look into.
1. Invest in reskilling and upskilling: As AI and automation become more prevalent in the workforce, it is crucial for businesses to invest in reskilling and upskilling their employees. For example, they can offer training programs and educational opportunities to help workers develop new skills that will be in demand in the future. For example, our company has implemented automation for essential functions, such as generating user accounts and providing shortcut suggestions for repetitive tasks. However, to stay ahead, we recently hired a consultant who specializes in AI concepts and their practical application in businesses. They helped us enhance our use of these tools to enable users to ask questions and receive customized recommendations.
2. Foster a culture of innovation: Business leaders can encourage innovation within their organizations by creating a culture that supports experimentation and learning. This can help employees adapt to new technologies and ways of working, and help businesses stay ahead of the curve.
3. Emphasize the importance of human skills: There are certain skills that only humans possess, such as creativity, emotional intelligence and critical thinking. Business leaders can emphasize the importance of these skills and create opportunities for employees to develop them.
Numerous companies provide courses on implementing AI, and I strongly suggest that employers send their staff to these courses. Additionally, as AI gradually takes over various tasks, it will be crucial to keep things in check. While AI can serve as an information hub, it often collects data from online sources that are not fact-checked. Consequently, the information it gathers can be completely false, so it’s important to emphasize the role employees play in leveraging these systems safely and effectively.
4. Engage with stakeholders: Business leaders can engage with their stakeholders, including employees, customers and industry associations, to understand the potential impacts of AI on their industries and workforces. This can help leaders identify areas where they can mitigate these impacts and develop strategies to support their stakeholders.
5. Develop ethical guidelines: Business leaders can develop ethical guidelines and best practices for the use of AI within their organizations. They should ensure that their use of AI is aligned with the company’s values and does not have negative impacts on employees or society as a whole. Therefore, leaders should establish checks and balances. I’ve had conversations with people who proposed excellent ideas, such as integrating quantum computing to create AI-based real-time checks that guarantee accuracy. In developing their guidelines, it’s important to remember that the goal shouldn’t be for humans to be replaced entirely. The sooner businesses realize this, the better it will be for them and their human employees.
Overall, by investing in their employees and fostering a culture of innovation, business leaders can help mitigate the potential impacts of AI taking over jobs and support their workforces and industries in general. Ultimately, automation in the workplace is inevitable. The question is whether we will allow automation to exacerbate existing inequalities or if we will take steps to ensure that everyone benefits from the changes that are coming.
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