Nand Kishor is the Product Manager of House of Bots. After finishing his studies in computer science, he ideated & re-launched Real Estate Business Intelligence Tool, where he created one of the leading Business Intelligence Tool for property price analysis in 2012. He also writes, research and sharing knowledge about Artificial Intelligence (AI), Machine Learning (ML), Data Science, Big Data, Python Language etc... ...Full Bio
Nand Kishor is the Product Manager of House of Bots. After finishing his studies in computer science, he ideated & re-launched Real Estate Business Intelligence Tool, where he created one of the leading Business Intelligence Tool for property price analysis in 2012. He also writes, research and sharing knowledge about Artificial Intelligence (AI), Machine Learning (ML), Data Science, Big Data, Python Language etc...
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70 percent of HR professionals fear loss of jobs in the next 5 years: Report
According to Asia's AI Agenda report published by US-headquartered ADP and Massachusetts Institute of Technology (MIT), 70% of HR executives feel that AI and robotics adaption will result in significant job losses in Asia over the next five years.
Artificial intelligence and robotics have already created a notion of taking away jobs, citing which the report surveyed two dozen senior HR professionals along with business leaders.
The report says that Asian executives expect the wave of artificial intelligence will hit businesses sooner than expected. Along, it will bring a profound and positive impact on the growth of businesses.
The report surveyed over 60 business leaders across Asia Pacific region between September and October 2016 to find out how the region is speeding up with artificial intelligence.
"AI has silently invaded and changes are happening on a daily basis," says Suvish Srinivasan, Head - Marketing, ADP India & South East Asia. He adds that employees are now ready and also accepting the change.
Adding to this, Rahul Goyal, MD of India and Southeast Asia ADP, says, "60-70% of the executives are upbeat about the change and sectors like IT, BPO, manufacturing are adapting robotics and AI quite fast."
However, financial service executives are still less confident that automation and machine learning will create benefits for their industry.
While on the other hand, C-suite respondents argue AI will improve their own competitiveness in Asia, especially their process efficiency and customer data with better insights.
A small percentage of respondents are currently investing in AI development in Asia. 25% of respondents indicated that their firms have already made investments at a global level while 50% are considering doing so.
"In the next 2-3 years, robotics and artificial intelligence will become more normal and accuracy of data including bots and robots will largely improve," adds Rahul.
Further, he also says that this technology will play a significant role in the coming years but companies especially in emerging markets need to ensure that the technology is scaled cost effectively, up skills workforce and the employees and the new advent technology co-exists.