MAY 21, 2019

Artificial Intelligence

• 2 Comments
• By: Selvi Shah
• Artificial Intelligence

Artificial Intelligence (AI) – 70% of Indian Firms Will Deploy AI by 2020

Artificial Intelligence or AI is right now threatening to take away jobs, from every industry; and as per the latest report by Intel, 70% of all Indian companies will deploy AI by 2020.

Artificial intelligence is a branch of computer science that aims to create intelligent machines. AI is an area of computer science that emphasizes the creation of intelligent machines that work and react like humans.

2020 will be a pivotal year in AI related employment dynamics, according to Gartner said more jobs will be created than lost. The firm says 1.8 million jobs will be eliminated by 2020, but 2.3 million new jobs will be created by then.

In 2019, the number of jobs affected by AI will vary by industry. 2019 will see a growing demand for jobs in the public sector, education, healthcare, and continuously growing demand while manufacturing will be hit the hardest.

In 2020, Artificial Intelligence job creation will cross into positive territory and reaching 2 million net-new jobs in 2025. University of Oxford researchers have predicted that 35% of UK jobs are at risk of automation over the next two decades. But Gartner’s findings suggest that Artificial Intelligence could also improve the productivity of many roles and more new positions of highly skilled management and even entry-level and low skilled variety.

The Intel India commissioned report, undertaken by the International Data Corporation (IDC) that the survey asked 194 organization across sectors, said 71% are looking at increased process automation as a key benefit and 70% of them have confirmed that AI will power their businesses by 2020.

AI Will Create More Jobs

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, the business transformation, and AI will likely follow this route.”

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.

“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,” Prakash Mallya, Managing Director, Sales and Marketing Group, Intel India, said in a statement.

The analyst firm has also predicted that by 2022, one in five workers engaged in non-routine tasks will rely on AI to do a job. “Using AI to auto-generate a weekly status report or pick the top five emails in your inbox doesn’t have the same wow factor as, say, curing a disease would, which is why these near-term, practical uses go unnoticed,” said Craig Roth, research vice president at Gartner.

AI will create millions of jobs that are far beyond our ability to imagine. For instance, AI is becoming adept at language translation—and according to the US Bureau of Labor Statistics, demand for human translators is skyrocketing.