AI and the Future of Work – Key Takeaways from James Cham, Kelley Steven-Waiss, and Erica Volini

Deloitte's Erica Volini shares insights on the rate of change within organizations

Gary A Bolles guided a discussion with James Cham, Kelley Steven-Waiss, and Erica Volini to explore strategies for organizations and individuals to navigate the rapid shift towards a digital work economy. Here are our key takeaways and views from this talk:

The Future of Work will be dictated by the rate of change in 4 key areas:

  • Technology
  • Individuals
  • Businesses
  • Regulatory and Public Policy

Of the four key areas, Technology is advancing the most quickly. This is particularly evident in the technology breakthroughs we are seeing in the AI space. The impact that technology can have on the future of work will be dictated by the other 3 areas of change. Following closely after technology, individuals will impact the way we work; given the opportunity and support to do so, quick adopters of tech breakthroughs will begin to integrate these new technologies into their work life. Business and Public Policy are the slowest adopters of change, and play a large role in flattening the rate of change.

The opportunity to capture value presented by the Future of Work (particularly in AI & Machine Learning) hinges on more than just the rate of adoption of technology. Rather, this will be dictated by an organization’s ability to act on all of these 4 areas to increase their rate of change and augment their capabilities.

As a result, an attitudinal shift is needed for us to capture the value technology makes possible

While exponential change is coming, organizations will have to map and track progress against incremental steps that will usher in this change on these 4 levels. Managing change at the technological, individual, business, and policy levels will require adaptations of culture, organizational structure, and process.

In order to truly understand the change that is coming, we have to understand that Cognitive Automation is shaping the Future of Work, and will change jobs in 3 ways:

  1. Some jobs will be completely replaced
  2. Parts of jobs will be replaced, but as traditional jobs become deconstructed, other opportunities will be created for these individuals to perform activities that were not previously part of their job
  3. Creation and support of AI and Cognitive applications will result in net new job creation

Making these new opportunities possible will require flexibility on the part of individuals and organizations. By embracing this possibility, and thinking about roles and competencies rather than jobs, we will be able to map the path to net new job creation.

Watch the entire panel, and the rest of the Global Summit Day 2 talks, below!