5 AI must reads for the weekend
1. How AI can flatten the hierarchy within organizations
We’ve all heard the phrase “knowledge is power”. Of course, we live in a world that rewards knowledge. Those who have accumulated more knowledge are more likely to secure senior job roles; subsequently a lack of knowledge can be a barrier to career progression. But what happens in an AI-enabled workplace, where everyone has the world’s knowledge at their fingertips? Communication becomes more open and transparent, and data-based decision making is unlocked at every level of seniority. No longer will employees need to go through bureaucratic layers for approvals or inputs. This, in turn, will lead to a decline in rigid, hierarchical organizational structures – plus huge productivity gains for all employees. Think AI chatbots that provide real-time assistance at the touch of a button, or predictive analytics tools that help employees to anticipate future customer trends without having to undertake extensive market research. While there is understandably anxiety around the emergence of new tech, the rise of AI should change our workplaces for the better…
Knowledge is power: How can AI help to flatten hierarchy within organizations?
2. AI, AI and AI…
… dominated discussions at MWC this week. And it got Beatriz Sanz Sainz, EY Global Data and AI partner thinking: what are the big AI trends set to shake things up this year? “Last year marked a watershed moment for artificial intelligence (AI) driven by breakthroughs in generative AI (GenAI)” writes Beatriz. The technology is shaking up business too. With significant investment flowing into start-up and sectors, and with enterprises racing to realize productivity, efficiency and innovation benefits, AI is set to deliver incredible transformation and will penetrate every aspect of our lives. But people are concerned about the risks associated with it. “The debate over the risks and safety of human-level AI, to date confined mostly to small circles of computer scientists, futurists and philosophers, breaks into the public sphere and features on the US presidential campaign trail. As model capabilities continue to expand at an accelerated pace, the belief that artificial general intelligence (AGI) will arrive within our lifetimes increases, making the risks of an out-of-control AGI feel more real and imminent.” But that’s not all. Beatriz breaks down the top 10 trends in her latest article…
Top ten trends for AI at Mobile World Congress 2024
3. How EY uses AI in recruitment
EY’s Talent Attraction & Acquisition team is exploring how AI algorithms can help us interact with more job candidates from a wider array of backgrounds, without having to manually sort through thousands of resumes and CVs. For example, our AI-driven Candidate Assistant helps job seekers find open roles at EY that are best suited to their background and preferences, but it won’t preclude them from applying to any other job they may be interested in. Another example we’ve employed is the Success Factors Job Analyzer which helps us ensure that our job descriptions – tens of thousands of them – are reviewed for potential gender bias and revised accordingly. As we adopt more technology examples like these, there’s endless potential to make our workplaces more equitable and inclusive. But that’s only if we use our human qualities to show the technology right from wrong. That means constant checks and balances, and education and awareness of the risks for everyone using the technology. Here are three ways to implement those checks and balances…
With the right support, could AI help us narrow equity gaps?
4. Keeping pace
New technologies – from generative artificial intelligence (GenAI) to quantum computing – are set to complement more established capabilities in the Internet of Things (IoT) and AI. In doing so, these technologies are redefining the art of the possible when it comes to technology transformation. But despite GenAI’s rapidly rising prominence, 38% of businesses recently surveyed by EY favor a measured, incremental approach to adoption of this game-changing technology. The finding indicates a sensitivity to issues around ethics and accountability. Relatedly, 73% seek a greater understanding of GenAI concepts and use cases; 69% say they need to learn more about the risks; and 52% have concerns around potential job displacement. Tom Loozen, EY Global Telecommunications Leader, shares four practical strategies for Information and Communication Technology (ICT) providers, on how to keep pace with evolving customer needs.
5. New kid on the block
In the ever-evolving digital landscape, major businesses are gearing up for a tech makeover. New kids on the block, Generative AI (GenAI) and quantum computing are sharing the spotlight with seasoned technologies like the Internet of Things (IoT) and AI. But among these emerging technologies, one star seems to be climbing the popularity ladder: GenAI, with 43% of businesses currently investing in it, according to the latest EY Re-Imagining Industry Futures report.However, businesses are also looking at it long term: another 43% of organizations plan to invest over the next one to three years. Despite this, most organizations are still only at the proof-of-concept or piloting phases of deployments. AI and automation are best established, with limited or extensive deployments accounting for 45%, and 35% of organizations currently investing respectively. While there are no active deployments of GenAI as yet — unsurprising given its infancy — government (42%) and consumer products (51%) have the highest proportions of pilot projects.
How can you realize the promise of transformational technologies?