by Angela Guess
A recent press release reports, “CIOs have a major role to play in preparing businesses for the impact that artificial intelligence (AI) will have on business strategy and human employment, according to Gartner, Inc. Gartner predicts that by 2022, smart machines and robots may replace highly trained professionals in tasks within medicine, law and IT. ‘The economics of AI and machine learning will lead to many tasks performed by professionals today becoming low-cost utilities,’ said Stephen Prentice, vice president and Gartner Fellow. ‘AI’s effects on different industries will force the enterprise to adjust its business strategy. Many competitive, high-margin industries will become more like utilities as AI turns complex work into a metered service that the enterprise pays for, like electricity’.”
The release goes on, “The effects that AI will have on the enterprise will depend on its industry, business, organisation and customers. Mr. Prentice cited the example of a lawyer who undergoes a long, expensive period of education and training. Any enterprise that hires lawyers must pay salary and benefits big enough to compensate for this training for each successive lawyer it hires. On the other hand, a smart machine that substitutes for a lawyer also requires a long, expensive period of training. But after the first smart machine, the enterprise can add as many other smart machines as it wants for little extra cost. Financial services is another industry where jobs such as loan origination and insurance claims adjustment could be automated. However, while AI will hit employment numbers in some industries, many others will benefit as AI and automation handle routine and repetitive tasks, leaving more time for the existing workforce to improve service levels, handle more challenging aspects of the role and even ease stress levels in some high-pressure environments.”
Read more at PR Wire.
Photo credit: Gartner