Newspaper article The Evening Standard (London, England)

Embrace the March of the Robots; We Have Been Warned That Artificial Intelligence Could Wipe out Swathes of White-Collar Jobs. However, the Reality Is That Most Early-Adopters of This Technology Are Not Shedding Employees -- They Are Retraining and Retaining Them, Writes Niki Chesworth

Newspaper article The Evening Standard (London, England)

Embrace the March of the Robots; We Have Been Warned That Artificial Intelligence Could Wipe out Swathes of White-Collar Jobs. However, the Reality Is That Most Early-Adopters of This Technology Are Not Shedding Employees -- They Are Retraining and Retaining Them, Writes Niki Chesworth

Article excerpt

Byline: writes Niki Chesworth

FIFTEEN million jobs could be stolen by robots, according to a recent grim prediction from Bank of England governor Mark Carney. White-collar workers from fund managers and auditors to estate agents and journalists have all been warned -- and not just by Carney -- that the increasing adoption of artificial intelligence could threaten their futures. However, while we should all prepare for this eventuality, that does not mean we will all be out of work.

A survey published today to coincide with the meeting of world political and business leaders in Davos has found that rather than shedding staff, 80 per cent of artificial intelligence (AI) adopters retain and retain employees. So rather than avoiding firms that invest in these new technologies, anyone looking for a new role should actively seek out organisations that are early-adopters of AI -- because they are reporting faster growth.

Among early-adopters of AI, 38 per cent expect revenues to rise by 2020 according to the report published today by Infosys, the global consulting, technology and next-generation services organisation.

The report, Amplifying the Human Potential: Towards Purposeful Artificial Intelligence, which polled 1,600 business decisionmakers at large organisations across the world, not only found a link between revenue growth and AI maturity, it also discovered that AI is increasingly seen as businesscritical.

With 76 per cent of respondents citing AI as "fundamental to the success of their organisation's strategy" and 64 per cent believing their organisation's "future growth is dependent on large-scale AI adoption", anyone who wants to future-proof their career should look to organisations at the forefront of technological innovation.

WORKING DIFFERENTLY While some jobs may be lost as a result, 85 per cent of firms adopting AI technology plan to train their employees about the benefits and use of AI and 80 per cent of companies replacing roles with AI technologies will "retain or deploy" displaced employees, according to Infosys.

The leading industries that plan to retain and retain their workers are: fast-moving consumer goods (94 per cent); aerospace and automotive (87 per cent); energy, oil and gas (80 per cent); and pharmaceutical and life sciences (78 per cent).

The research also reveals AI will cause greater investment in workforces, specifically China (95 per cent), France (90 per cent), Germany (89 per cent), and the UK (82 per cent). And there is much more innovation to come. Only one in 10 respondents that have deployed AI technologies believe that their organisation is maximising the current available benefits and capabilities of AI.

Technological innovation is also enabling us to work better -- and in better ways -- according to a second report, Future of Work, from Deloitte. …

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