A quote from Ray Kurzweil says that “Artificial intelligence will reach human levels by around 2029. Follow that out further to, say, 2045, we will have multiplied the intelligence, the human biological machine intelligence of our civilization a billion-fold.”
There is no doubt that the advent of AI will change the direction of how people live and will prove to provide a breakthrough in the way how technologies are being viewed and consumed by different organizations. In some ways, it may provide the channel for easy living and comfortable life but on the other hand the risk of losing jobs in on the rise. The change management may balance out the anticipated breakthrough by shifting the nature of jobs rather than removing it all, all together. The space created by AI asks for innovation on different fronts, to develop and curate systems that may help create an impact in making the processes involved by increasing the efficiency of the current system and make it more compatible with the technological advancements along with a concurrent growth of the infrastructure, so that uniformity may be maintained on the economic and technological breakthroughs.
AI and the entwined disciplines
Every technology has a portion of impact on the human autonomy that may or may not be taken as advancement on all fronts. AI has the potential to further exacerbate such impacts. As part of a research carried out into the state of AI and robotics, the socio-economic impact assessment of the EU funded H2020 SIENNA conveyed the potential for the diminishment of individual autonomy due to increased use and reliance on AI technology. Evidence from the disciplines of economics, history, sociology, etc. conveys that the impact of AI is likely to be influenced not only by the technological reforms but also by cultural, economic and social factors. Indeed, the way in which work is organized can change significantly across the boundaries of borders and technological infrastructure, even where the same technology is used in production. A study by Venture Harbour says that by 2020, AI will eliminate 1.8 million jobs and create 2.3 million.
AI and Businesses
Mckinsey Global Institute’s Discussion paper ‘Artificial Intelligence the next digital frontier?’, says that according to a survey, 20% of C-level executives across 10 countries report that they are using Artificial Intelligence in a core part of their business.
AI has the power to utilize the available data in ways that were not technologically and economically comprehendible previously, making it open to a plethora of possibilities of how it may make us adapt to the new orientations, better or not. According to a study by Accenture, by the year 2035, AI will boost profitability by 38% and will generate $14 trillion worth of additional revenue.
Artificial intelligence empowers the sales and marketing teams to be more efficient and drive more revenue from the processes. More than 50 percent increase in leads was recorded by the companies that make use of AI for sales, along with a reduction in the call time by up to 70 percent and thus realized cost reductions of up to 60 percent. While AI is maintaining position results in the domain of sales and marketing, 83 percent of early adopters of AI have already achieved substantial or moderate (up to 53 percent) economic benefits.