Artificial Intelligence plays a pivotal role in changing the workforce landscape. It is reshaping various industries, and companies are finding new ways to improve their work and productivity.
At one end of the spectrum, there is a threat of job loss; on the other hand, it is beneficial for companies to improve their productivity, ensuring that they can produce quality output.
Since the technology is gaining popularity, it becomes the employees’ role to know about it, how to use it, and what impacts it can have on them. From the perspective of an organization, it needs to take care and find ways to implement AI in its operation.
In this post, we will discuss the various impacts of AI and how it shapes the world and industries.
Automation and Job Displacement
Automation is a threat which is looming over people who are engaged in doing repetitive work. With the advent of this technology, the company can replace them with better products and software, which can increase the company’s productivity.
For example, companies prefer HR outsourcing in Thailand or other locations. Through that, they can leave the matter to the HR experts on how much to hire and what parts the companies can easily automate. It creates concerns in the manufacturing, customer service and data entry jobs, as they are on the brink of getting automated with AI.
However, the demand for a skilled workforce is rising as AI tools and software are deployed; for maintenance, a company requires experienced personnel who can monitor and quickly fix the system’s or server’s errors.
AI-powered tools and software are bringing something new: they can tally and interpret large amounts of data in seconds. This superpower helps humans get an idea or glimpse about a large quantity of data, which was previously impossible.
For instance, AI algorithms can assist in diagnostic treatments by analyzing the patient’s past medical reports. Based on the current problem, it can provide suggestions about the daily care routine and how to improve the patient care process.
AI-driven data analytics helps a person or an employee to understand the requirements quickly. It allows an individual to increase their productivity and to give more output at the same time.
AI Ethics and Regulations
AI is a tool which comes with its own set of pros and cons. On one end, it enhances the workforce’s productivity; on the other, it creates a looming threat where many people will lose their jobs.
Hence comes the need for ethics and involvement of policies which will help companies and their employees understand their obligations to each other. Governments are considering introducing policies such as “Universal Basic Income”, which will allow employees to receive a paycheck for a certain period when they will be out of work.
There are Human Resource Management in Thailand or other locations who are working towards finding the best solution for integrating AI and toning down its negative implications.
It will help them reskill, become viable in the job market again, and join the workforce. For companies, there must be legislation where a company can support its employees to upskill to find themselves relevant in the job market.0