How the employment sector is set to be shaped by AI

Posted

17th October 2019

Whilst there has been a huge amount of concern over how artificial Intelligence (AI) may affect the employment sector. Increasingly, professionals are starting to realise that AI’s arrival on the employment landscape is imminent. Instead of fearing this eventuality, they are starting to embrace this change. Viewing it as a…

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hilst there has been a huge amount of concern over how artificial Intelligence (AI) may affect the employment sector. Increasingly, professionals are starting to realise that AI’s arrival on the employment landscape is imminent. Instead of fearing this eventuality, they are starting to embrace this change. Viewing it as a possibility that will not only make us more efficient, but also create far more job opportunities. According to one estimation increasing the UK job market from 7 million to 7.2 million. A plus side that we at Revere thought was well worth exploring for those who might be more than a little nervous about the rise of the bots.

1. Recruitment
There is little doubt that one of the areas to be most impacted by artificial intelligence will be recruitment. Already we are seeing businesses using artificial intelligence as a way of streamlining the recruitment process, employing bots who are able to carry out the first stages of interviews. With AI able to measure essentials such as eye contact and body language. This helps empower employees to interview far more individuals without taking away from the running of the actual business. In its earliest stages currently, we expect, this to become more common.

2. Writing
A market that has seen a tremendous amount of movement in relation to AI. There is little doubt that this field is set to see some momentous leaps over the next few years. That being said, thus far artificial intelligence has been unable to create a unique tone of voice, or content that reflects a certain ethos. Instead, bots such as Quill or the automated writing technology that is being seen at Northwestern University can only replicate a tone of voice. In essence, they can be harnessed exclusively to quickly create pure factual content. Meaning they may well allow us far greater and more immediate access to news events, rather than putting J. K Rowling out of business.

3. Transportation
There is little doubt that the entire transportation industry is awaiting a huge shift with phenomena such as driverless cars considered a certainty, rather than a hypothetical. However, whilst Tesla, Uber, Google and really any large technology company worth its salt may be competing to produce the first and the best driverless cars, this has ramifications right across the technology sector in terms of a whole range of public transportation. This could see a momentous shift in the employment sector of this industry with an increased call for tech specialists. Whilst those who are employed as drivers may well need to retrain to offer an alternative role.

4. Finance
Another sector to feel a significant change due to AI is finance. This area will see far more accurate processes as algorithms look to replace the potential for human error. This could well include robo financial-advisors who can reduce the cost of using this service by waving the fee as well as AI trading advisors who will be able to use sophisticated algorithms to make far more nuanced predictions. In truth, within this sector the possibilities really are endless and it will be interesting to see quite what will happen moving forward.

5. Construction
Last but by no means least is AI’s impact on the construction industry which actually could work to make the sector far safer. With bots used to perform tasks that previously demanded a huge amount of training, precision and not a little danger. Without question, traditional builders will still be required, however AI could make the process slicker, smoother and faster.