by Ollie O’Donoghue. Head of Cognizant Research
Cognizant’s research indicates that 90% of jobs in the next decade will be affected by GenAI (generative AI). GenAI does not replace humans. Instead, it’s a productivity tool that reshapes roles and creates new opportunities for business. Business leaders need to take proactive measures to integrate AI strategically, and support their employees through this transition.
GenAI: A productivity toolbox
GenAI is a threat to jobs that rely heavily on data input, management and administration. These include data entry workers, administrative assistants and statistical assistants. These jobs, which were already affected by previous technological advances such as automation, will be further transformed as AI takes on their value-driven core tasks.
GenAI is also used by many other professions that are highly exposed to GenAI. Financial analysts, for example, use GenAI to complement their work with customised analytics. Senior executives use GenAI to do tasks like market trend analysis, simulated scenario planning and other decision-supporting tasks. These jobs won’t disappear from the job market. GenAI is a toolkit that will support and increase productivity.
Data analysts, for example, have traditionally relied heavily on their technical knowledge. GenAI, which takes on much of data crunching, is reshaping roles such as data analysts, making them more accessible to professionals who have diverse skill sets, including strong communication skills and creativity. GenAI will increasingly handle these technical tasks, increasing the demand for people with “soft” skills, such as creativity and strategic thinking.
These new capabilities may also lower barriers to entry into certain professions. In some cases, they allow entry-level workers perform at levels that were previously reserved for colleagues with more experience. AI-driven insights can be used by customer experience representatives to mimic the service quality provided by more experienced colleagues.
Finding a balance
It’s easy to imagine a future where all human work is automated by artificial intelligence, but the reality will likely be much more nuanced. Human interaction has an inherent value that can’t be replaced by technology. The society often strikes a balance between technology’s advantages and the desire to have human interaction and analog interactions. The level of automation that is ideal for each industry is determined by operational requirements and consumer preferences.
Robots and AI can be used to optimize production lines in factories, for example. Hospitality, for example, will depend on human interaction to create meaningful experiences. Each industry must find the right balance between automation and human interaction.
Even before the recent advancements in AI, large parts of modern society, such as processes in restaurants and leisure environments, could be automated. These industries have, in most cases, resisted automation due to a combination of cost and the desire for human-centered interaction.
Business leaders
GenAI and AI in general will be responsible for the loss of some jobs. The long-term impact on the workforce of AI will depend on how businesses adopt AI. This is largely influenced by factors such as costs, regulatory complexity, and the availability of talent.
Business leaders must develop a strategy which balances innovation with purpose. Get a clear idea of the impact AI will have on their roles. It is important to identify areas where AI complements human roles and maximises value. Also, it’s necessary to pinpoint areas where training programs are needed to help employees navigate the new ways of work. It is important to adopt a proactive AI integration approach in order to make sure that this new era will benefit the economy, workers, and society as a whole.
The Road Ahead
GenAI will continue to transform the workforce. Its impact on business leaders will be largely determined by how they prepare. Business leaders can transform disruption into an opportunity by embracing GenAI to boost productivity, upskilling the workforce, and finding a balance between automation, human interaction and GenAI.
The original version of this article, Gen AI is set to transform 90% jobs within the next decade. How should business leaders prepare for it? appeared first on HR News.
