70% Indian Firms Will Deploy AI By 2020; Will Artificial Intelligence Create More Jobs?
Artificial Intelligence is right now threatening to take away jobs, from every industry.
When Ramon Llull, the 12th century Spanish mathematician and writer, devised the first system of logic, he had no idea that what he has unleashed. Computer scientists regard Ramon as a founding father, because his system of logic eventually gave birth to computations and finally AI.
Artificial Intelligence or AI is right now threatening to take away jobs, from every industry; and as per a latest report by Intel, 70% of all Indian companies will deploy AI by 2020.
Does this mean that AI will eventually wipe away all jobs, and machines will take over?
No! As per another report by Gartner, AI will create more jobs, than it kills; and that turning point will arrive in 2020.
What will be the future of jobs with AI? We try to dig a little..
70% Of Indian Firms Will Deploy AI by 2020!
Intel India asked International Data Corporation (IDC) to survey Indian companies with regards to AI, and some interesting results have come out.
To start with, 70% of all Indian firms will deploy AI in some or the other form, by 2020.
The survey asked 194 organizations regarding their plans about AI, and 75% of them admitted that they are aware of the benefits which AI brings, and 70% of them have confirmed that AI wil power their businesses by 2020.
Prakash Mallya, Managing Director, Sales and Marketing Group, Intel India said,
“This research is a small step towards comprehending this knowledge, and enabling companies, such as ours, shape strategy and move ahead in the right direction,”
While 64% of the businesses said that AI will help them to increase revenues; 76% actually said that they will be short of manpower which can fully utilize the power of AI.
AI Will Create More Jobs Than It Destroys!
Meanwhile, global research firm Gartner has come out with a report, according to which AI wil create more jobs than it destroys, and the process will start from 2020.
As per the report, AI will eliminate 1.8 million jobs by 2020; but at the same time it will create 2.3 million new jobs. This means, AI will directly result in net job addition of almost 5 lakh.
Svetlana Sicular, Research Vice President at Gartner said,
“Many significant innovations in the past have been associated with a transition period of temporary job loss, followed by recovery, then business transformation and AI will likely follow this route,”
However, the effect won’t be same for all industries.
As per Gartner’s report, health, public sector and education will create tons of new jobs via AI route, however, manufacturing will keep on losing jobs due to AI.
Maybe the world order is changing, and AI is the catalyst.
“Unfortunately, most calamitous warnings of job losses confuse AI with automation – that overshadows the greatest AI benefit – AI augmentation – a combination of human and AI, where both complement each other,”
The report said that AI augmentation is all set to generate $2.9 trillion in business value by 2021, and help to save 6.2 billion hours of worker productivity.
Finding new, cutting edge health solution, discovering new business avenues, and solving complex decision making process includes some of the tasks which AI is expected to do in future.
We will keep you updated as we get more insights into the way AI will change everything we know about jobs and business. Stay tuned!