Is artificial intelligence (AI) becoming a concern for job security?

As we see increased thoughts towards the adoption of autonomous vehicles, delivery of goods via drones, chatbots taking fast food orders, immersive technology such as virtual reality (VR) and augmented reality (AR), then should we be concerned for the future of the job roles that we currently have and the security of the future workforce?

We increasingly hear that the next industrial revolution of robotic process automation, machine learning, and AI is upon us and with this in mind, a certain amount fear, uncertainty and doubt seems to have set in. Just as history has shown with the very first industrial revolution, many people initially opposed this change due to the fear of large-scale manufacturing leading to the deskilling and replacement of the workforce.

Of course, some work practices were replaced and lower quality items initially produced but for the large majority, it actually meant a surge in workforce employment and improved practices to supply the increased demand for goods. In fact, one study from Gartner Research states that while 1.8 million jobs will be lost by 2020, 2.3 million new ones will be created.

So, we should probably embrace the new industrial revolution and view it as a positive step towards improving our work and lifestyles yet further. Yes, there may well be some short-term implications concerning job replacement but in the end, the impact will be minimal just as it was with the first industrial revolution.

Therefore, following our own philosophy at Esker, whereby we embrace technological advancements such as AI to enhance the way our customers can go beyond business as usual, we have been pleasantly reassured to continue our investment in the development of such solutions.

For example, one area Esker can help organisations to is reducing the process of incoming invoices.

  • Automatic data capture with machine learning and intelligent data capture
  • Automated digital workflow for several approvals
  • Automatic Archiving complete electronic audit trail
  • Automatic data integration into ERP system
  • Custom dashboard display for 100% visibility

This allows benefits to be quickly realised, such as:

  • Increasing the accuracy and efficiency of the processed data
  • Improving the visibility of the workload

The result of these benefits does not diminish the skills of the workforce as perceived but actually enables them to allocate more time to assisting vendors and negotiate for early payment discounts. The fact is that technological advancements should be embraced and be viewed as a positive move towards enhancing our current working practices, improving the business world and making our lives even more positively interconnected to reap the rewards it will bring.

To learn more, here is a guidebook on the AI advantage A Simple Guide to Elevating Your Business.

Written by Sam Townsend – Esker Head of Marketing, Northern Europe