Artificial Intelligence and the Future of Work
As we look forward into 2024, we look back at the huge developments that have been made in Artificial Intelligence (A.I.). In 2023, we saw A.I. being brought to the mainstream with technologies such as ChatGPT from Open A.I. and powerful chips from NVIDIA. The opportunities and challenges of A.I. sparked a global debate with many influential entrepreneurs such as Elon Musk, Bill Gates and Mark Zuckerberg calling for more oversight.
In December 2023, the European Union (EU) released the A.I. act to protect EU citizens and regulate developments in A.I. Will other governments follow suit? Most likely. There are genuine fears and anticipation on how A.I. will shape the world of work. Many people are worried that the job market will become even more competitive as more jobs will be automated, while others welcome the opportunity for less desirable work to be taken away. It is clear that when used carefully, A.I. has the capability to transform the way we work for the better.
How does A.I. affect talent attraction and development?
We believe companies should use A.I. to enhance the candidate experience and ensure it does not make it worse. A.I. solutions that enhance the candidate experience include those that create a personalised experience for candidates such as tailored feedback on job applications and highlighting any skills gaps. Furthermore, candidates can receive job recommendations that are more specific, and skills tests used to level the playing field and better understand the applicant. Senior managers will be able to gain access to in depth insights about their workforce including their learning needs and career path. Learning needs can be identified by analysing performance on certain tasks and identifying areas of strength and those in need of development. Most people want a clear laid out career plan and A.I. can be used to analyse the areas where your people will most likely flourish by looking at performance data.
Can A.I. replace human judgement?
The short answer is no. A.I. models are built by people, so they have flaws in them. Most of the current flaws are driven by the quality of the data. It is important for leaders looking to implement A.I. solutions & models to rigorously test the feasibility and fairness of the models and solutions before implementation. In talent acquisition and development, A.I. should help to add clarity to human judgement and not completely replace it. The main concern is that A.I. bias can lead to a large percentage of individuals with particular characteristics that do not conform to the model being left behind.
What does it mean for job seekers?
Most Employers using A.I. tools will be able to recruit and onboard people much quicker. We live in a world of accelerated change and there are no signs of this slowing down. As such, there will be an expectation for job seekers to highly adaptable and possess a set of various skills, particularly tech skills. Conclusion
It is clear that A.I. will be transformative for talent attraction and retention. If used correctly A.I. will enable faster and high-quality decisions to be made by senior leaders. However, we still strongly believe that human judgement will still play an important role throughout the process to ensure the right decisions are made. The main challenge is to ensure that the A.I. models & solutions being used do not disadvantage people from certain groups or those with certain characteristics that are not factored in or viewed less favourably.
Each organisation will need a robust A.I. review system. Maybe this can be done by the compliance department. If so, this means organisations will need to upskill people in Compliance to gain the expertise required to identify potential pitfalls in A.I. solutions and models. A.I. will also help managers of small & large teams identify who is best suited to which tasks. This will most likely lead to high job satisfaction and employee retention. Furthermore, managers will be able to identify the learning and development needs of the whole team by looking past performance data on certain tasks.
A.I. is an exciting step towards further advancement in our technological capabilities, but we should be careful we do not view it as a full solution to all our problems.
As we look forward into 2024, we look back at the huge developments that have been made in Artificial Intelligence (A.I.). In 2023, we saw A.I. being brought to the mainstream with technologies such as ChatGPT from Open A.I. and powerful chips from NVIDIA. The opportunities and challenges of A.I. sparked a global debate with many influential entrepreneurs such as Elon Musk, Bill Gates and Mark Zuckerberg calling for more oversight.
In December 2023, the European Union (EU) released the A.I. act to protect EU citizens and regulate developments in A.I. Will other governments follow suit? Most likely. There are genuine fears and anticipation on how A.I. will shape the world of work. Many people are worried that the job market will become even more competitive as more jobs will be automated, while others welcome the opportunity for less desirable work to be taken away. It is clear that when used carefully, A.I. has the capability to transform the way we work for the better.
How does A.I. affect talent attraction and development?
We believe companies should use A.I. to enhance the candidate experience and ensure it does not make it worse. A.I. solutions that enhance the candidate experience include those that create a personalised experience for candidates such as tailored feedback on job applications and highlighting any skills gaps. Furthermore, candidates can receive job recommendations that are more specific, and skills tests used to level the playing field and better understand the applicant. Senior managers will be able to gain access to in depth insights about their workforce including their learning needs and career path. Learning needs can be identified by analysing performance on certain tasks and identifying areas of strength and those in need of development. Most people want a clear laid out career plan and A.I. can be used to analyse the areas where your people will most likely flourish by looking at performance data.
Can A.I. replace human judgement?
The short answer is no. A.I. models are built by people, so they have flaws in them. Most of the current flaws are driven by the quality of the data. It is important for leaders looking to implement A.I. solutions & models to rigorously test the feasibility and fairness of the models and solutions before implementation. In talent acquisition and development, A.I. should help to add clarity to human judgement and not completely replace it. The main concern is that A.I. bias can lead to a large percentage of individuals with particular characteristics that do not conform to the model being left behind.
What does it mean for job seekers?
Most Employers using A.I. tools will be able to recruit and onboard people much quicker. We live in a world of accelerated change and there are no signs of this slowing down. As such, there will be an expectation for job seekers to highly adaptable and possess a set of various skills, particularly tech skills. Conclusion
It is clear that A.I. will be transformative for talent attraction and retention. If used correctly A.I. will enable faster and high-quality decisions to be made by senior leaders. However, we still strongly believe that human judgement will still play an important role throughout the process to ensure the right decisions are made. The main challenge is to ensure that the A.I. models & solutions being used do not disadvantage people from certain groups or those with certain characteristics that are not factored in or viewed less favourably.
Each organisation will need a robust A.I. review system. Maybe this can be done by the compliance department. If so, this means organisations will need to upskill people in Compliance to gain the expertise required to identify potential pitfalls in A.I. solutions and models. A.I. will also help managers of small & large teams identify who is best suited to which tasks. This will most likely lead to high job satisfaction and employee retention. Furthermore, managers will be able to identify the learning and development needs of the whole team by looking past performance data on certain tasks.
A.I. is an exciting step towards further advancement in our technological capabilities, but we should be careful we do not view it as a full solution to all our problems.
The Rise of NVIDIA
The success of the chip manufacturer is now closely linked to the development of artificial intelligence, in which giants such as Amazon, Microsoft and Alphabet have significantly increased investments in recent years. Nvidia currently controls between 80% and 90% of the market for semiconductors needed
A.I. Driving Increasing Data Infrastructure Demand
The financial industry is under pressure:
customers want to be served faster and faster and
changing product requirements must be implemented in no time at all. This requires the utmost
level of flexibility and productivity.
The major conclusion: investing in digital infrastructure solutions is essential in order to be
flexible
customers want to be served faster and faster and
changing product requirements must be implemented in no time at all. This requires the utmost
level of flexibility and productivity.
The major conclusion: investing in digital infrastructure solutions is essential in order to be
flexible
Government Demands "More Competition" In the Tech Sector
Commenting on the Digital Markets Bill, Department for Science, Innovation and Technology Minister, Saqib Bhatti, said:
Britain was the third country in the world to build a trillion-dollar tech sector, and our fastest growing firms continue to pull in more capital than counterparts in France and
Britain was the third country in the world to build a trillion-dollar tech sector, and our fastest growing firms continue to pull in more capital than counterparts in France and
8 Ways to Upskill your Team and Keep Up with Accelerated Change
1. Perform a skills gap analysis
Organisations often don’t have people with all the skills they need to achieve particular tasks. In most cases, this results in organisations outsourcing their work to contractors or other firms with the skillset to get the job done.
Organisations often don’t have people with all the skills they need to achieve particular tasks. In most cases, this results in organisations outsourcing their work to contractors or other firms with the skillset to get the job done.
Global Investment Summit - Investors and Innovators Announced
Stephen Schwarzman, CEO of the world’s biggest alternative asset manager Blackstone, will join Prime Minster Rishi Sunak for a keynote panel discussion on the importance of investing in the skills and technology that will shape the coming decades.
CEO and Founder Anya Hindmarch CBE will
CEO and Founder Anya Hindmarch CBE will
Artificial Intelligence and the Future of Work
Artificial Intelligence and the Future of Work
As we look forward into 2024, we look back at the huge developments that have been made in Artificial Intelligence (A.I.). In 2023, we saw A.I. being brought to the mainstream with technologies such as ChatGPT from
As we look forward into 2024, we look back at the huge developments that have been made in Artificial Intelligence (A.I.). In 2023, we saw A.I. being brought to the mainstream with technologies such as ChatGPT from
