Research Paper Abstract - Impact of AI on Employment
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A Microsoft Office PowerPoint Presentation for Research Paper on Impact of AI on Employment submitted as part of Research Paper Presentation Competition under Anvesh 2020 organized by Faculty of Business Administration (GLS BBA), GLS University
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Research Paper Abstract - Impact of AI on Employment
- 1. IMPACT OF AI ON EMPLOYMENT RESEARCH PAPER PRESENTATION – ANVESH 2020 TEAM – MURPH
- 4. Artificial intelligence (AI) is the simulation of human intelligence in machines that are designed and code to think like humans and behave in a similar manner. The term Artificial Intelligence can also be used for any machine that exhibits characteristics associated with a human mind such as learning, thinking and problem-solving. - Frankenfield, J. (2020, March 13) WHAT IS AI?
- 6. — JAMES MANYIKA “It’s natural to wonder if there will be a jobless future or not. What we’ve concluded, based on much research, is that there will be jobs lost, but also gained, and changed. The number of jobs gained and changed is going to be a much larger number, so if you ask me if I worry about a jobless future, I actually don’t. That’s the least of my worries.”
- 8. Sectors with Major AI Deployments AI and Productivity Limitations of AI AI and Jobs – Created and Lost Predictions for Future RESEARCH AVENUES
- 10. METHODOLOGY Qualitative Research Data Interpretation Literature Review Articles, Essays and Research Papers Panel Discussions Economic Times, TOI and IBM Ethnography Discord GCC, IBM DSP, CML’20, SkillShop Observation Popular VAs and ChatBots TYPE
- 12. SECTORS WITH MAJOR AI DEPLOYMENTS Diagnosis Algorithms and Remote Check-Ups Sales and Marketing Virtual Assistants and Lead Optimization ChatBots and Interactive Guides Customer Service Health Care
- 13. AI AND PRODUCTIVITY Sales Service 24-hour Service – 64% Instant Responses – 55% Work-Focus 36% - Optimize operations 72% - Innovation Focus Big Data Better Data Quality – 59% Faster Analytics – 67% Over 50% increase in leads 40-60% cost reductions
- 14. LIMITATIONS OF AI 37% managers don’t understand use of AI PERCEPTION 76% CEOs worried about detecting bias BIAS 47% managers unable to integrate AI COGNITION HIGH COSTPROTRACTED Often requires transformation of entire Organizational Hierarchy as well as several processes which takes time, effort and money. COMPLEX
- 15. AI AND JOBS CREATED AND LOST
- 16. Million jobs likely to be displaced by 2030 - McKinsey Global Institute 400-800
- 17. - THE WALL STREET JOURNAL “Simply put, jobs that robots can replace are not good jobs in the first place. As humans, we climb up the rungs of drudgery — physically tasking or mind-numbing jobs — to jobs that use what got us to the top of the food chain, our brains.”
- 18. 10% Job Creation Rate Jobs are not transferrable Need for extensive training Transition New jobs will have higher skill requirements than the jobs that will be lost Higher Skill
- 19. 77% CEOs worried about Vulnerability and Disruption Probability of erroneous outputs by AI Projects 85% Technologists are unprepared for AI Inclusion 93%
- 20. $190B Industry by 2025 Commercial Apps will integrate AI 75% businesses have AI as their strategic priority 83%
- 21. CONCLUSION AI in 2020 and preparing for the future Inescapable A change is bound to happen Training Skills Incorporate appropriate skill training Developing Phase AI cannot completely replace humans Selective Use Decide on the sectors to use AI in 2020
- 22. THANK YOU! Questions? IMPACT OF AI ON EMPLOYMENT Anvesh 2020 – Research Paper Presentation TEAM – MURPH Mrudul Manojkumar Rahil Shah Samit Nakrani Ushama Chhipa