Chapter 6 - The Future of Work in an AI Powered World

1. What is AI or ‘Artificial Intelligence

Although there are several definitions of artificial intelligence (AI) that have appeared in recent decades, John McCarthy provides the following description in this 2004 study "It is the science and engineering of making intelligent machines, especially intelligent computer programs. It is related to the similar task of using computers to understand human intelligence, but AI does not have to confine itself to methods that are biologically observable." The study of building robots with human-like skills may be summed up as AI. Machines that can plan, reason, communicate, and learn are improving our lives, cutting expenses, and increasing productivity and profitability. However worries about AI's ability to negatively alter industries are also widely expressed, particularly the labor market as regular, low-level work is replaced by AI.

2. AI and the future of work: How does AI contribute to the work of a human?

AI is already pervasive in both work and daily life. Artificial intelligence (AI) enables everything from digital personal assistants to smart appliances, internet commerce, and factory robots. In at least one task, 56% of respondents utilize AI, according to the State of AI study from McKinsey. In developing nations like China, the Middle East, and North Africa, this figure jumps to 57%. According to PwC's Global CEO Survey, automation and digitisation objectives are included in 54% of organizations' long-term corporate plans, indicating that this rise is expected to continue.

AI is set to progress further in a number of areas.

The Metaverse:
Technologies like virtual reality and augmented reality are making it possible to walk inside the internet for work, play, and leisure. Shared virtual environments will meld with the real world, revolutionizing training, communication, and teamwork.

Fraud mitigation:
AI can identify tendencies in fraud by analyzing a huge volume of transactions. Then, it can automatically stop questionable transactions or flag them for additional examination. AI in cyber security may be used by people to identify and stop attacks.

Chatbots and virtual assistants:
The capabilities of chatbots are expanding along with NLP, enabling them to converse more organically with users rather than only answering "yes" or "no" inquiries. Employees are now free to handle the trickiest consumer inquiries, greatly improving customer service.

Artificial intelligence in healthcare:
According to the World Health Organization, there will be a global shortage of 18 million healthcare professionals by 2030. By automating repetitive processes, boosting productivity, and—most importantly—giving staff more time to spend with patients, AI may be able to contribute to the solution to this problem. Several healthcare applications, such as hospital administration, medical diagnostics, and patient-focused apps, already make use of AI.

3. Important Skills to bring you at par with AI

AI is said to be the future and it sure is an important concept to be acquainted with. Given below are the skills that you should master when dealing with AI:

Knowledge of Technology: When it comes to understanding the many complexities involved, AI is a tremendously technical subject that goes well beyond many other fields. As a result, firms in AI frequently seek candidates with talents linked to mathematics and science.

Emotional Intelligence and Interpersonal skills:
The capacity to understand, manage, and express one's emotions as well as those of others is known as emotional intelligence. A person with high emotional intelligence may demonstrate empathy and cooperate effectively with others. It seems logical that folks with strong emotional intelligence would be in even higher demand in the workplace given that machines cannot yet imitate humans' capacity to interact with one another.

Crucial reasoning:
Working with AI systems requires the ability to think critically and analytically, especially as we manage the changing nature of the workplace and the shifting roles of people and computers.

Decision Making:
Decision-making abilities are crucial for employment in artificial intelligence because even if AI develops the capacity to make simple judgements, humans will still be required to make more complicated ones.

Advantages and Risks:
An Artificial Intelligence (AI) program is a program that is capable of learning and thinking. It is possible to consider anything to be artificial intelligence if it consists of a program performing a task that we would normally assume a human would perform. Naturally, it has both advantages and risks which are involved in adopting AI in the near future.

Some advantages are that AI reduces human error and effort, unbiased decisions and can perform repetitive tasks tirelessly. Dealing with and knowing how to operate with AI can be a huge asset and will help you boost your career exponentially as everything will be achieved within a small time frame and with minimal human effort.

However, there’s always another side of the coin. Some risks or drawbacks of AI are that it is very costly and demands a huge investment, there is no creativity and no ability to think outside the box, it is emotionless and has no ethics. These are some of the aspects which inhibit us from accepting AI with open arms.

4. Jobs with AI : How to be ready for jobs in an AI run world:

Driven by the need for efficiency and productivity, companies are increasingly looking to AI to fill jobs that humans typically do. AI also has the power to create more jobs than it takes away by freeing up human labor from tedious tasks so they can spend their time on other things, like making decisions. As a result, AI will lead to an increase in productivity while also creating new types of positions where humans will control these machines rather than being replaced by them – as long as we have the right skills to do so!

For students with a background in computers:
An undergraduate degree in computers, mathematics, or statistics can land you a job in AI. Business Intelligence Development, Data Science, Research Science and Product Management are some areas where AI is becoming very popular.

For students who don’t have any knowledge of computers:
Building a career in AI for students from non-CS or non-IT background is not difficult. Some add on courses to learn General-purpose languages: Python and C/C++, Database management, Data analysis and statistics, Data acquisition systems, Digital marketing goals and strategies and Industry knowledge along with soft skills such as Communication skills, Effective collaboration, Analytical skills, Problem-solving skills, Management and leadership skills are more than enough to succeed in the ever-growing industry pre-dominant in AI.

5. Conclusion/Summary:

Evolution of AI is inevitable. AI is only going to continue to grow and evolve. This points towards only one thing: staying at par with the technology is extremely important. One who is adept with AI has an edge of anyone else. However, this doesn’t mean that there are no opportunities for students with no background in computer science (CS). There is a lot of scope for all CS and Non-CS students.