Artificial Intelligence Revolution
Artificial Intelligence is slowly taking over given its ability to enhance efficiency in various operations. Increased automation, thanks to the machine learning technology, is gradually becoming a reality. Amidst the transformation, there have been concerns that the technology could render many people jobless. However, that appears not to be the case.
The synergies up for grabs with Artificial Intelligence are one of the reasons why institutions of higher learning are increasingly taking note of the technology. Programs designed to equip students with relevant skills pertaining to the machine learning technology are slowly cropping up, having become clear the kind of impact the technology is poised to have in the labor market.
Thanks to AI, 40-50% of the current jobs should be viable over the next 15 years, even with higher levels of automation. The technology is poised to have a significant impact on the way people, as well as machines, carry out operations in the labor market. This is in part because of an increase in computing power that is making it possible for AI-powered machines to carry out functions normally designated to humans. While AI will displace old jobs, it will also give rise to new jobs.
The availability of vast troves of data has made it possible to train machines leveraging artificial intelligence to achieve specific goals as well as tasks. Advancement in AI technology means there is a likelihood that AI-powered machines could in the future exceed human intelligence. There is also the probability of an emergence of a new form for AI that is well beyond human intelligence.
AI Competencies Disruptions
Faced with the probability of Artificial Intelligence taking over, universities are already re-examining their curriculum in a bid to ensure that students come out equipped to adapt to AI disruption. While AI is poised to operate side by side with humans, there is also the possibility of various student competencies being replaced by the technology.
Student competencies involving repetitive skills will be the most affected. The thing with repetitive skills is that it is easy to train machines to do the same function as long as there is data. Pattern recognition, as well as information retrieval, optimization, and planning, are some of the fields that would be the most affected by AI.
The least vulnerable segments to AI disruptions are those that involve problem-solving as well as drawing conclusions. Operations that depend on emotional states, as well as social inhttps://www.alliedmarketresearch.com/artificial-intelligence-marketteractions, would also survive any onslaught that comes into play as a result of AI disruptions. This is in part because it is difficult to train machines to depict various emotional states, synonymous with humans. Competencies involving critical thinking as well as teamwork and interpersonal skills are also not expected to experience significant AI disruption.
AI Market Size
Some of the fields of study susceptible to AI disruptions include accounts, auditing as well as geoscientists. Engineering fields of study have also started to include AI programs to equip students with much needed AI skills and knowledge needed in the job market.
Increased focus on Artificial Intelligence is influenced by the fact that technology has the potential to create an additional $2.6 trillion in value by 2020 in marketing and sales. The machine learning technology will also have a significant impact on the manufacturing and supply chain operations and could lead to $2 trillion in additional value.
Students and professionals with the right AI skills able to transcend various skills stand to be the biggest beneficiary of the artificial intelligence revolution that is slowly taking over. The need to improve customer experience and achieve higher levels of personalization should see businesses and companies investing vast sums of money on AI skills and talent.