11 Ways AI Will Impact Our Work and Lives in the Future

Nowadays, people are talking about Artificial Intelligence (AI) as if it’s taking over our world. Tech employers rank AI technology as one of the most in-demand skills in the industry.

AI may inspire fears of robots preempting humans, as depicted in many sci-fi movies. While it’s near to impossible to predict how AI will evolve in the long run, current tech trends paint a picture of how AI will impact our lives and workplaces.

Of course, AI is already here. Many tech industry sectors have reported a 270% growth in AI applications. It’s impacting everything from the way we shop and the search results we see in Google, to online dating and taking care of our health. Using machine learning, AI is driving some of the most useful emerging technologies, such as robotics, big data, the Internet of Things (IoT), etc. And, that’s just the beginning.

So, what does AI mean for our work and lives in the future?

Some fear the advancement of AI, thinking it will make human workers obsolete or it could be used by nefarious elements. Others focus on the transformation brought by artificial intelligence in our daily life.

The reality is more complicated.

First of all, let’s discuss the impact of AI on jobs.

AI Will Not Take Away Jobs, Even in the Long Term

A paper by the MIT Task Force on the Work of the Future, “Artificial Intelligence and the Future of Work,” paints a very optimistic picture. By closely analyzing AI developments and the nature of human work, the paper predicts that AI has the potential to lead to more job creation by creating new sectors with big innovations in existing industries.

That’s because of AI’s limitations. Mostly, AI programs have been found to be rigid and are unable to respond to changes in input. They are capable of specialized intelligence and can solve only one problem and execute one task at a time. They can’t do anything outside of their programming. Humans have generalized thinking, critical thinking, and critical judgment that will be relevant for most business tasks across all sectors.

Other factors limit the use of AI in situations that use human judgment and analysis. Bias in data, privacy, security, limitation of computation, and processing power are some other concerns that may limit the extensive application of AI.

Even with these limitations, 90% of leading businesses have been investing in AI for a long time. And out of them, more than 50% report that they’ve gained productivity and efficiency in business operations.

11 Ways AI Will Change the World for the Better

The impact of artificial intelligence in everyday life is becoming more noticeable. Already, business intelligence uses predictive AI. AI is likely to strongly impact the following sectors, or it has already.

Medical

With the potential of making medical care more accessible and affordable, the use of AI in healthcare is a big opportunity. The healthcare industry’s large data sets are being used to design predictive models. It has huge potential in nursing, robotic surgery, and other medical fields.

AI has been found to be more accurate in diagnosing some illnesses. It can speed up and streamline drug discovery. Virtual nursing assistants will be able to monitor patients. AI combined with big data analysis will assist in creating a more personalized patient experience.

Automotive

You can already see AI’s impact on transportation and automobiles, like driverless cars and autonomous navigation. Additionally, AI will raise productivity and efficiency in automobile manufacturing. Although it may take some time, autonomous cars will drive us around one day.

Business

Instead of replacing human intelligence, artificial intelligence in business is expected to play a supportive role in marketing, sales, IT operations, R&D, etc. While developing marketing strategies, predictive AI will forecast sales, predict customer behavior, and improve communication. Machine learning will spark innovation by providing a deeper understanding of industries through accurately and efficiently collecting and analyzing a great amount of data.

Cybersecurity

During the pandemic, cyber-attacks rose 600% as hackers took advantage of people working from home on less secure systems. As a result, cybersecurity ranks as one of the topmost priorities for many business leaders after security breaches climbed to an alarming level in 2020. In the future, AI will be crucial in predicting cybersecurity threats. For example, the finance and banking industry will benefit from AI’s ability to process large amounts of data to predict fraud.

E-commerce

From marketing to distribution to user experience, AI will play a central role in e-commerce. Businesses will use AI in chat-bots, image-based advertisement, inventory automation, warehouse management, and shopper personalization.

Job Search

AI is already assisting in the hiring process. Jobscan, Jobseer, and Rezi are some AI-based tools in human resources. AI-powered programs are scanning resumes in many organizations. It’s been reported that up to 75% of resumes are rejected by an automated applicant tracking system (ATS) before they even reach a human being. In 2018, 67% of hiring managers said AI was making their jobs much easier.

However, the use of AI in the hiring process is not without its controversies, as it can perpetuate some biases within some algorithms. Nevertheless, the benefits of AI in recruitments will increasingly outweigh the disadvantages.

Creating New Jobs

AI will alter the nature of the workforce, but the bleak perspective of AI as a job killer is exaggerated. While 75 million jobs may disappear as companies integrate AI tools, about 133 million less repetitive and more engaging jobs will likely develop. AI is expected to create more satisfying positions for workers.

Creating Art

While AI is known for its use of computational power, the same technology can create art. AI is bringing together computer scientists and artists for collaborations. Recently, Christie’s auctioned its first piece of AI art for $432,500 — a blurred face titled “Portrait of Edmond Belamy.”

Transforming Government

AI is predicted to drastically transform public administration with less paperwork, more efficient bureaucracy, and faster responses. However, many administrations may not be ready for the risks associated with autonomous systems. These risks include subversion of democratic processes or taking over digital public infrastructure by anti-social elements, resulting in unprecedented political turmoil.

Manufacturing

AI-powered robots will perform a limited range of tasks in manufacturing facilities alongside humans. Predictive analysis sensors will keep the machinery running smoothly and forewarn impending errors, accidents, and shutdowns.

Education

The potential of AI is yet to be fully tapped in the field of education. With digitized texts, AI-powered virtual tutors will assist human instructors. By using facial analysis gauges, AI can identify the emotions of students to determine which ones are struggling or bored. With this analysis, AI can better tailor the experience to their individual needs.

Conclusion

Understanding how artificial intelligence will change the future is difficult. But with its impact on so many areas of our lives and workplaces, it’s clear AI is here for the long haul. However, future applications of AI aren’t all doom and gloom. As with all technologies and innovations, we’ll learn to use them productively and overcome the disadvantages.

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