In the previous blog, we dealt with the two buzzwords of data analytics viz. machine learning and deep learning. We had an overview of the major differences and similarities among the two along with their leading applications. Moving ahead in this blog, we will be analyzing the impact of Artificial Intelligence (AI) and automation on the current and future jobs and employment scenario.
We are very well aware of the fact that the complex virtual learning techniques persuade the machines to perform an ample amount of tasks (either they are physical or cognitive) very efficiently without any human assistance. And it is hard to believe that the competency and accuracy of these techniques are constantly aiming at increasing the AI systems advancement and automation.
The assets of all these techniques and AI systems advancement are known to us all but I have a question; do we need to worry about the future of human work and employment with respect to this?
Artificial Intelligence is rapidly revolutionizing the world of work, but the future of human employment is hard to be judged. The primary reason for this unpredictability is that if the machines and robots keep on improving in their performance reaching beyond the human intervention, then this may result in the reduction of human employment. On the other hand, some of the people argue that robots and machines would only occupy a limited range of works in the upcoming years.
The entire subject had thus become a topic of argument among the people of different fields and regardless of this argument, we need a comprehensive debate to develop a convenient economic policy in context to the new technological revolution.
IMPACT OF AUTOMATION ON INDIAN INDUSTRIES
The $160 billion Indian Industry has undergone an adequate implementation of automation and this effective use of automation is a threat to the Indian IT industries. The IT industries are now switching their platforms to Artificial Intelligence. Some of the IT companies that are now having Artificial Intelligence as their platforms are mentioned below:
This IT company became the First IT services firm to launch an Artificial Intelligence platform in India. The name of the platform is “HOLMES”.
TATA CONSULTANCY SERVICES
After Wipro launched the first Artificial Intelligence platform, the competency goes on increasing and TCS then launched its Artificial Intelligence platform viz. “IGNIO”.
Following the trend, Infosys also launched its Artificial Intelligence platform namely “MANO”.
The major objective of the IT firms behind launching these AI platforms is to achieve the non – linear growth and to grow their revenues at a much faster rate than the number of employees. which would ultimately result in an increase in both, revenue per employee and profitability.
AUTOMATION: REPLACING JOBS IN INDIAN IT INDUSTRIES?
A REPORT BY HfS
The development of India over the last two decades had contributed a lot to globalization and IT companies emerging from the west. Currently, the Indian IT sector employs a huge number of people which is approximately about 3.7 million. A major ratio of which are relatively low skilled or moderately skilled.
Artificial Intelligence and Automation, it seems, would deliver on their promises and the low skilled and moderately skilled tasks that could be automated would be Automated very soon and this would start reflecting the relative impact on the employment and jobs sooner. Various analysis, like a research done by HfS, had claimed a job loss of nearly 64 lakhs by 2021.
Apart from this, the automated code generators are expected to replace the human programmers on a wide range in the upcoming decades. In context to the same HfS had also predicted that the global IT Industries would be dropping the jobs by 9% which is about 1.4 million because of Automation. Thus if we predict the job scenario in the upcoming decades, then we could easily conclude that 60-80% of the jobs in IT-BPO sector is going to disappear.
A REPORT BY CENTRUM BROKING
The use of Artificial Intelligence platforms has been generating positive results for all the IT companies. According to a report published by The Centrum Broking, the top five IT companies of India have been constantly reducing their hiring since 2015 due to the new paths laid by automation.
In the year 2015, the IT sector added nearly 230,000 number of employees which further reduced to 200,000 in the year 2016.
The report further revealed a prediction of hiring nearly 200,000 number of employees in the year 2017 which is almost equal to the one in 2016. Thus the graph is expected to slope downwards in the upcoming years as well.
BUT IS IT REALLY A JOB REPLACEMENT OR JOB TRANSFORMATION?
Artificial Intelligence would lead to job replacement and widespread redundancy is the considered theory anyway. However, various new researchers have demonstrated that ARTIFICIAL INTELLIGENCE IS JUST A JOB TRANSFORMATION NOT A JOB REPLACEMENT.
Yes, the true reflection of Artificial Intelligence signifies that automation is not at all the replacement of job, rather it is just the creation of various new jobs in different fields that require skills, techniques and expertise. It has been investigated that the latest firms investing in smart, automated and self-teaching systems are more capable of creating new jobs.
The Researchers at CAPGEMINI have surveyed that four out of five Artificial Intelligence-based firms have created more jobs rather than replacing them. In addition to it, two-thirds of the respondents said that there has been no reduction in jobs due to automation. Thus the ultimate conclusion to this debate we have is that “Artificial Intelligence is the transformation of old jobs into new ones.”
ARTIFICIAL INTELLIGENCE AND AUTOMATION WON’T REPLACE BUT ENHANCE HUMAN PERFORMANCE
We now observe everything around us had now become tech-enabled and possess a lot more than worth and all this is an upshot of Artificial Intelligence. But there goes a myth around that the automated machines are going to replace the human work but the real part is getting neglected behind the false theories. The reality only claims that the automated machines would ultimately result in the enhancement of human performance and are now opening various opportunities to all the techies of the world. The era of Artificial Intelligence had driven a huge cruise for all the skilled class of the society. Let us now see what are the fields related to Artificial Intelligence that have a number of job and career opportunities.
JOBS AND CAREER OPPORTUNITIES IN AUTOMATION AND ARTIFICIAL INTELLIGENCE
The widest path for jobs is under this section. This field is the one that generates the highest number of jobs in automation and Artificial Intelligence. Since the is impossible without programming, thus it opens a broad door as a job opportunity for all the programmers.
Artificial Intelligence had laid a tricky path in the field of Robotics. Giving a sense of human intelligence to a robot is a tremendous task done ever through Artificial Intelligence. Today, a number of robots are capable of doing various difficult and different tasks which were never expected to be done by anyone else a human and all this just an outcome of Artificial Intelligence.
DATA SCIENTIST/ MACHINE LEARNING ENGINEERING
Artificial Intelligence a variety of job opportunities under this category. The employment ratio is quite high in this field as compared to other areas. This area requires predictive modelling, statistics, machine learning, data mining and other data analytics techniques to collect, extract insights and explore data from structures or unstructured data.
Computer vision is another field where Artificial Intelligence had played a major role. This field deals with the technology that could improvise a computer that would then enable it to utilise the high level understanding from digital images and videos.
It’s a job TRANSFORMATION not a replacement!
The development of the Internet, Data Sciences, Automation etc. have shown how new technologies could take away the jobs and even create new ones. However, we should not scramble the response regarding the job scenario in the future so early. Meanwhile, we all are at the first step of analysing the potential of Artificial Intelligence. The jobs are likely to be redefined rather that vanish due to the impact of automation. To challenge the impending notion we must promote the social ladder among all the engrossed parties like researchers, politicians, policy makers, industrial representatives, technology developers etc. so that we could develop an understanding in a more deeper way to analyse the impact of such technological changes on the economy of our country. This step would rather initiate a track to grasp the opportunities and conquer this new industrial revolution.
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