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Companies are feeling the pinch of a labor shortage, with the difficulty of finding people with the right skills due to COVID-19. This has caused a need for ingenuity, resulting in artificial intelligence becoming a viable option. With inflation, recession, and rising interest rates, the current economic climate pushes businesses to think of new ways to acquire employees.
A.I.-powered automation is transforming how companies do business by automating processes that used to be done by people. Companies that can implement these technologies quickly and effectively will be the most successful in their respective fields, such as accounting, banking, lending, data processing, tech development, and customer service. Automation will be the key factor in determining which companies are the winners in these industries.
Although it is difficult to predict the full extent of the effects, some jobs will likely become obsolete due to automation. Nevertheless, businesses can take advantage of new opportunities and gain a competitive edge by swiftly integrating A.I. into their operations. Doing so can increase efficiency, productivity, and profitability while expanding into new markets.
Transformation #1: A.I. Global Workforce
A.I.-driven automation enables companies to offer employees enhanced flexibility and work-life balance, allowing them to work from anywhere. Our organization has developed an AI-driven work collaboration platform called Teletype that supplements our full-time workforce with part-time workers worldwide. More of these platforms will come to the fore as they bridge traditional work with a globalized workforce.
Transformation #2: Automation-Centric Innovation
We now have the tools and technology to open the world to previously impossible solutions to long-standing issues. We can now use our knowledge, skills, and technology to make positive changes that were not possible before. With automation, we can tackle big problems and create new opportunities that will lead to a better future.
Take this Chinese metaverse company, for instance: they’re testing the waters with an AI-driven virtual robot as its CEO! This is just the beginning of what could be a wave of creative, daring ideas that will come with the increasing use of AI. We will likely witness the birth of new unicorns that can help us tackle our most troublesome issues.
Automation will not only be a key factor for businesses to save money and reach their objectives, but it will also influence all areas of our lives.
Transformation #3: Scaling
We already see a rise in the use of automated systems for repeated tasks. Likely, we won't see a large-scale shift to using robots for physical tasks or consistent automation soon. However, automation will be more widely adopted to give people more resources to work with. Machines may handle mundane tasks that usually take up human time and energy, which could be especially useful for back-office activities. This will help people to be more productive and efficient with their time. It’s predicted that nearly 70 percent of managerial work will be automated by 2024!
The Rise of the Machines?
As technology advances, the amount of automation we see in daily tasks will skyrocket. AI will revolutionize nearly every area of life, with the impacts of its changes being felt promptly. Companies must decide how to utilize these new tools best and capitalize on the waves of progress.
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