The impact and future of artificial intelligence

In our opening post, we discussed the challenges of powering AI systems with data, the ongoing need to reinvent and re-adapt due to advances in AI, and the critical role of AI in complementing human capabilities. We also highlighted the transformative role of tools such as ChatGPT in software development and considered how developers can play a new role in an AI-driven world. If you missed it, you can catch up here.

‍In a follow-up story, our experts Juan Franco, Juan Alfonso, Agustín Pisano and Johnny Sosa present their insights into the future of AI, reflecting on their roles in Techie Talent. We will focus on more niche applications of AI, highlighting its impact in areas such as digital twins, product development, robotic process automation, data visualization and people functions.

Our goal is to utilize our team’s expertise to give you a clear understanding of the potential and challenges of AI. Let’s continue to explore the ongoing impact of AI.

Juan Alfonso, Head of Robotic Process Automation
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“While the latest developments in AI leave us amazed and dazzled by their capabilities, we must not forget that it’s like dipping our fingertips into a lake of infinite possibilities. What we’ve seen so far is only a fraction of what we as humans can create in the future. It’s even challenging to think about what will happen 5 or 10 years from now, because products we can’t even imagine could be here tomorrow.

‍However, drawing from the infinite possibilities of AI, I can envision all the ways in which AI will empower us at the macro level of our company. It will enable us to make smarter decisions, optimize processes, and deliver an enhanced customer experience. AI-powered systems will streamline our operations, increase efficiency, and enable us to provide better products and services to our customers.

‍In the industry, AI will drive innovation and transform business models. It will make it possible to develop more advanced and smarter products and services. AI technologies such as machine learning, natural language processing, and computer vision will revolutionize not only technology, but also various sectors, including healthcare, finance, manufacturing, and transportation.

‍Beyond our companies and industries, AI will change the way we live, the way we communicate, the way we work, the tools we use, and the things we can create. Artificial Intelligence will become everyone’s customized co-pilot/assistant. There is no doubt that it will reshape the job market, replacing and automating many roles, but thousands of new roles will emerge. It will be a challenge for society to continually adapt and re-adapt to these changes.

Johnny Sosa, Director of People Experience
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“Integrating Artificial Intelligence (AI) into the people function promises transformative benefits in today’s rapidly evolving digital landscape. However, as we venture into this new era, it is critical to assess the potential risks and rewards of AI.

‍One of the most worrisome issues is the perpetuation of bias through AI algorithms. Research has shown that bias in algorithmic decision-making can exacerbate racial and gender inequality, reflecting and amplifying offline disparities. For example, AI systems may inadvertently discriminate against certain groups, further entrenching existing inequalities.

‍To mitigate this risk, policymakers must advocate for locally relevant training data and analytics that reflect the diversity of society. By developing AI systems that are sensitive to these nuances, we can take a step toward addressing digital inequality and ensuring fairness in the staffing process.

‍Another key risk associated with AI is data security. As AI systems process sensitive personal information, the potential for data breaches and cyber threats grows. It is critical to work closely with legal and business leaders to ensure responsible implementation, identifying and addressing any security vulnerabilities evident in AI systems.

‍Additionally, there is an urgent need for global collaboration to establish norms and standards to prevent these biases. It is important to include the perspectives of developing countries in the development of these standards to ensure that the digital transformation benefits all people, regardless of their capabilities.

How are advances in artificial intelligence shaping the future of workforce retraining and what strategic shifts are companies making with respect to their AI goals, particularly in the staffing function?
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The trend is clear: McKinsey’s recent report, The State of Artificial Intelligence 2023: The Year of the Generative AI Breakthrough, shows that leading companies are more than three times more likely to commit to retraining more than 30 percent of their workforce over the next three years as a result of AI adoption.

‍Companies are shifting their AI goals away from cost reduction. Instead, they are focusing on more strategic applications of generative AI. This shift highlights the evolving role of AI in enhancing HR practices, including reducing bias in decision-making and positively influencing employee sentiment. AI offers tremendous potential in the people function. For example, conversational AI can enhance self-service capabilities, automate onboarding and streamline transactional interactions. AI can also act as a “co-pilot” to guide employees’ careers in real time. HR professionals are freed from repetitive tasks, allowing them to focus on meaningful, engaging interactions with employees.

‍In short, the convergence of AI and human functions presents challenges and opportunities. By adopting responsible AI practices, the people domain can create a fairer, more productive, and safer workplace. The key point is that AI in the people function is not just about automation and efficiency; it’s about balancing risk and reward, promoting inclusivity, and making strategic decisions that benefit the organization and its employees.

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