Analyzing the Impact of AI on the Workforce: Future of Work

This report examines the multifaceted impact of artificial intelligence (AI) on the workforce, drawing on studies and research to analyze its effects on employees, jobs, and companies. It highlights how AI is reshaping value creation and driving innovative business models, including predictive maintenance and product servitization. The report discusses the rise of AI in manufacturing, the need for workforce adaptation, and the emergence of new job roles requiring fusion skills. It references key studies that showcase AI's applications across various industries and its influence on educational sectors. The report explores the potential of AI to transform businesses and the need for individuals to develop logical and collaborative skills to thrive in an automated future. The report also references key studies and findings from researchers such as Ransbotham et al., (2017), Issa et al., (2016), Agrawal et al., (2017), Popenici & Kerr, (2017), and Kolbjørnsrud et al., (2016) to support its claims.

How AI Will AI impact the Workforce
Studies have shown the effect
of artificial intelligence on the
employees, their jobs and the
companies, thereby affecting
the whole world.

The initiation of artificial intelligence (AI) aims to reshape the foundation of value creation
and along with that it also aid in the formation of innovative business models. and the
provision of the value-added services which include, predictive maintenance, mass
customization, and "product servitization" for manufacturing companies.

As AI becomes more common in different aspects of business
management and activities, it becomes even more essential to
invest in individuals.

AI and automation will not displace
people but rather combine their
capabilities in new ways to create
new forms of value and new
opportunities.

• AI Making Manufacturing Inroads.
• Significant barriers to workforce and technology.
• New roles for people and machines.
• New-to-World AI Jobs on the Way.
• A high Demand for Fusion Skills.
• AI-Skilled Workforce in Short Supply.
• Learning and development AI potential must be
unlocked.

How to Prepare for an Automated Future
• Learning skills.
• Developing logical skills that will prepare people to
work along with robots or perform tasks that
machines cannot.
• Exercising and practicing behaviour and skills that will
increase opportunity for getting jobs.
• Creating combinations and collaborations with the
new technologies alongside robots or AI incorporating
innovations both within and across industries.

Key findings
• The study Ransbotham et al., (2017) shows examples of how how AI permits the whole Airbus production line
to acquire quickly and meet the business challenge
• The study also discusses on the Assorted Applications Prospects for adoption of AI across vaious
industries: effect on processes and also to what amount will adoption of AI will impact organization’s
performance and future of work (Ransbotham et al., 2017).
• Eventually, the implementation of revolutionary technologies brings fundamental changes to procedures and
the restructuring of whole sectors. Industries are making substantial investments in these areas, and are now
auditing them (Issa, Sun & Vasarhelyi, 2016).
• Major technology corporations like Google, Apple,and Amazon feature artificial intelligence (AI) glaringly in
their product launches and acquire start-ups based on AI. The flurry of interest in AI triggers a range of
reactions — all from eagerness about how capacity will increase human labor to fear about how job
elimination will occur Agrawal, Gans & Goldfarb, 2017).
• The developments using AI have also shown to impact educational sectors as well. Advances in artificial
intelligence in this sector are exposed to new openings and complications for the higher education teaching
and learning, with the potential to essentially alter ascendancy and the innermost architecture of advanced
education governments (Popenici & Kerr, 2017).
• According to Kolbjørnsrud,, Amico and Thomas, (2016), Artificial Intelligence (AI) will join mass businesses
by the end of this decade. Unlike previous waves of the new technology, which have mainly interrupted blue
collar and service jobs, recent advances in the AI will impact all management levels (Kolbjørnsrud,, Amico &
Thomas, 2016).

References
–
• Agrawal, A., Gans, J., & Goldfarb, A. (2017). What to expect from artificial
intelligence. MIT Sloan Management Review.
• Issa, H., Sun, T., & Vasarhelyi, M. A. (2016). Research ideas for artificial intelligence
in auditing: The formalization of audit and workforce supplementation. Journal of
Emerging Technologies in Accounting, 13(2), 1-20.
• Kolbjørnsrud, V., Amico, R., & Thomas, R. J. (2016). The promise of artificial
intelligence.
• Popenici, S. A., & Kerr, S. (2017). Exploring the impact of artificial intelligence on
teaching and learning in higher education. Research and Practice in Technology
Enhanced Learning, 12(1), 22.
• Ransbotham, S., Kiron, D., Gerbert, P., & Reeves, M. (2017). Reshaping business
with artificial intelligence: Closing the gap between ambition and action. MIT Sloan
Management Review, 59(1).