Fourth Industrial Revolution is already on the plate and this involves cyber-physical systems. This is marked by the breakout of outstanding technologies like IoT, Robotics, Big data, and Artificial Intelligence. The so-called 3 D jobs which are dirty, difficult and dangerous are replaced by this industrial revolution and AI. AI influenced jobs do not replace human jobs but compliment them. The labor workforce requires flexible work hours, benefit plans which can be mitigated by the AI-driven techniques. Fourth IR will help in creating jobs related to understanding and leveraging emerging technologies like AI and ML experts and Blockchain specialists.
Working with the Machines
In the future, all the mechanical jobs will be replaced by cyber-physical systems involving human assistance. New technologies like AI require investment, restructuring and potential mass layoffs. Blessing in disguise is that we need technicians to run the cyber-physical systems. Yes, by implementing this, the number of jobs is reduced but the employees can reskill to get employed. This will help in reducing sudden or unexpected redundancies in the future.
Machine Learning and AI techniques help to attain tacit knowledge along with know-how procedures. This knowledge is hard to describe but to acquire it. The workforce along with the organizational board should understand the importance of AI and find alteration to an important technological provision. Training of employees will help to continue the employee-employer relationship even if redundancy is required.
The journey of AI with increasing data
AI is everywhere from unlocking phones to driving cars. Data is growing rapidly. This data is important for analysis and machine learning. AI models should be trained as humans are trained during childhood. We need strong AI architecture as this is the first step in implementing an AI model. Next step is identifying and understanding the data patterns. Business can look into the performance of employees, their ratings, payroll details, training and thereby focus on areas of improvement. AI will help to understand the employees who need a push to perform better and understand high performing employees who are at the risk of leaving the organization.
The focus on clients is as important as the focus on the employees. Customer satisfaction is a key factor in any business. Customers look for social media data to understand the sentiments of the people and the customer – consumer relationship. Behind the scene understanding of sentiments is the major technique used in AI. Fourth IR uses vouchers, IR cameras and other behind the scene methods to understand the sentiments of the customer and provides him choices which might interest him to purchase.
Opportunities from data sharing
Data sharing between healthcare and public domains will be the next area of improvement for governments. This includes privacy challenges, data protection, and public concerns. This sharing will help in predicting the future of crimes and vulnerability of the public. AI algorithms help in face detecting people who are about to commit crimes and to track repeat offenders. Face detection along with sound sync will help in recognizing data patterns. AI models track other interdependent AI models for biased judgments.
The underlying principle for the fourth industrial revolution is found in communication and connectivity and then comes technology. AI helps in connecting people to the data world which helps in improving the productivity and efficiency of organizations. Fourth IR will change the way we live or work or perform. Fourth IR and AI together contribute to the second machine age. AI is the key technological advancement which has transitioned the mechanical systems to touch-and-feel systems. AI technologies are reducing the workforce and not replacing the workforce. Days are not far when the AI-driven machine can run by itself.