Fear of artificial intelligence precedes its creation and implementation by decades, mainly due to sci-fi films, TV, and conspiracy theories. This is the part of the movie where ChatGBT enslaves the human race in a not-so-distant future… or not.
AI fears are common these days, with more businesses implementing automated tools and employees worrying about being replaced. A survey earlier this year showed that almost 25% of workers believe AI tools will make them obsolete. Another survey shows over half of employers (56%) think we should use AI tools more, but only 21% of organizations use them.
In an ever-evolving digital world, failing to adapt is terrible for business and hinders employee development. So, it begs the question, do employers risk falling behind because of AI fears and refusal to adopt new technology?
AI is here to stay
AI has solidified itself as a valuable tool for businesses across various industries. So, if you’re opposed to using AI, you’ll be disappointed to hear it’s here to stay. Sorry about that! ChatGBT is the poster child for AI tools, but automation is used every day for streamlining workflows, forecasting sales, data-led insights, and much more.
Unfortunately, if you’re a business owner actively avoiding automation, you’re now part of the minority. Over half of employers use AI for cybersecurity and fraud management, two areas of business that need to be quick, efficient, and error-free. But customer service is still the most common use for AI, as the technology is intelligent enough to handle basic customer questions and requirements.
This speeds up the entire process and removes tedious and time-consuming tasks from employee workloads. The same can be said for using AI for other purposes. A Forbes Advisor survey revealed that 64% of business owners think AI will improve customer relationships and boost productivity, while 60% expect AI to drive sales growth.
It seems the tide is shifting with AI acceptance, and it’s no longer something business owners run from but towards. Those who ignore it risk being outdated and ultimately left in the dust by competitors. Business owners must recognize automation as a tool, not a problem, and why there’s such urgency to adapt in constantly evolving markets.
“There’s improved lead generation that machine learning can do better than humans. And then there’s the Westworld-style ‘is it murder if you kill a robot’ scenario. There’s a big gap between those two things. I think you can start working on understanding the business problems now before you have to worry about Skynet taking over. Knock down the things AI can solve now.”
— Michael Chiu
Business growth with automation
Implementing technology for business growth isn’t a new concept at all. Technology is the most influential variable for the business world’s growth and how it evolves to suit ever-changing needs. And now, we’re seeing a similar trend with automation. Whether you love or hate it, automation helps businesses increase efficiency and productivity while reducing costs.
Remember that shift in the tide we mentioned? A recent survey aimed at workers uncovered some interesting stats about attitudes toward automation, showing that a high percentage of employees and leaders view AI as a complementary tool for business growth.
- 90% of workers said automation increased their productivity.
- 85% said automation boosted team collaboration.
- Almost 90% also stated that automated tools reduce errors and increase decision-making speed.
Business owners and employers wouldn’t hesitate for a second to adopt new technology to increase productivity and collaboration while speeding up decision-making. It’s just the AI part that’s putting people off. But it’s hard to argue with stats and insight from people who actually do the job, the employees.
If automation benefits productivity, efficiency, and speed — it’s difficult to argue against it, especially as it frees up many workers’ time. 80% of employees feel that automation provides more free time and flexibility to do their jobs, allowing for deeper and more fruitful relationships with customers and stakeholders.
Automation amidst the talent crunch
There’s a misconception that the goal is to replace humans and make many jobs obsolete, but the reality is that AI has simply shown businesses how to evolve. Yes, many jobs will become obsolete, but that’s not necessarily bad news. After all, we’re in the middle of a talent crunch, and employees desperately need to enhance and diversify their skills. If only they had more time to focus on reskilling and upskilling.
Oh wait, they can do precisely that if automated tools take care of tedious and time-consuming tasks. By 2023, the talent crunch will cost businesses $8.5 trillion in unrealized annual revenues. Around 85 million jobs will fail to be filled because no one has the skills businesses need.
With this in mind, organizations should do everything possible to create employee development opportunities and maximize retention. If you can implement AI and efficiently handle tasks previously assigned to employees, there’s no logical reason to neglect automation. Using AI tools to tackle small yet frustrating tasks allows employees to focus on more crucial and innovative projects that benefit revenue, exposure, and retention.
A lot of AI fears stem from employees concerned about losing their jobs, which is fair. However, implementing automation provides a unique opportunity to move employees sideways and up the ladder, not out the door. The result is a more efficient and productive workplace with skilled, qualified, and fulfilled employees.
Enhanced hiring and onboarding
The quality of the new talent you recruit defines your company’s productivity, efficiency, and potential for growth. So it pays to hire the right people, the best people. With AI tools, you can screen applications and shortlist candidates in moments. It’s also a quick and easy way to create job descriptions, estimate salaries, and schedule interviews.
Recruiters are often overwhelmed by mundane and deceptively time-consuming tasks. Freeing up time ensures their work can be more impactful and strategic, enhancing the entire talent acquisition process. AI tools also inform future hiring decisions by harnessing recruitment data and forecasting to understand future talent requirements. The business world moves at a mile a minute, and trends come and go. It’s essential to understand your talent needs at all times, and that’s a tough ask without automation.
You also have to consider onboarding, which is often undervalued. A Glassdoor survey of workers showed that onboarding is vital for workplace culture and productivity. Of those who experienced effective onboarding, 89% felt more strongly integrated into the company, and 91% felt a better sense of “connectedness” in the workplace.
Yet, onboarding still needs to be utilized more effectively and often falls short. Many employers (93%) believe that onboarding is vital for employee retention, and we’ve already mentioned how important that is amidst the talent crunch. You need tools and insight to onboard and manage your workforce efficiently and productively.
Go global with Multiplier
Global employment is an incredible lifeline for businesses looking to expand into new markets and create multi-country workforces. But when you cross borders and hope to implement effective workforce management processes, you’ll need some good tools. Multiplier’s workforce management solutions simplify and enhance processes such as onboarding and payroll, using automation to ensure accuracy and prevent errors.
Our effective yet easy-to-use tools harness data, streamline tedious tasks, and prevent the many headaches of workforce management. Do you want to learn more about implementing workforce management tools into your business? Talk to our experts today!