AI has the potential to automate 40% of the average work day

Artificial intelligence (AI) can play a vital role in helping leaders and their teams make strategic, as well as immediate, data-driven decisions. Generative AI will revolutionize the way we work. AI is the electricity of the 21st century. Ignore it and your business will be left in the dark. After all, we already know in many ways that generic AI will shape the way we work.

A survey now suggests AI has the potential to automate 40% of the average work day, according to the research firm valoir, The widespread use of generic artificial intelligence – such as ChatGPT – has increased public awareness of its risks, along with its potential to increase productivity and efficiency.

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Research Note: “AI, robotic process automation (RPA), and similar tools and technologies have existed for some time. However, the availability of large language model (LLM) generator AI tools, such as ChatGPT and Google Bard, and embedding human resources Generic AI in a variety of enterprise applications, ranging from customer service to development platforms, is causing companies and their employees to take notice.”

Other research shows that the adoption of generic AI in marketing reveals promising gains in productivity, with marketers estimating that generic AI could save them the equivalent of more than one month per year, leaving room for more meaningful work. It is made

To better understand the potential impact of AI and automation on productivity, efficiency and jobs, Valoir conducted a global survey of more than 1,000 workers across a wide range of industries, and validated the data with in-depth interviews with those employed full-time. Did. in Finance, HR, IT, Marketing, Operations, Sales and Service roles. Valoir’s main conclusions are as follows:

• Automation is already underway at many companies, employees report Automate an average of 20% of previously manual tasks during the last two years. Although the level of automation varies by geography, job role, and industry, nearly all workers have experienced some degree of automation in the past two years. In many cases, low-code and no-code platforms have enabled business users to automate their processes. Rule-based and traditional AI approaches have also inspired automation. Automation is already underway in many organizations, with employees automating an average of 20% of their work over the past two years.
• Generative AI has reached a tipping point More than 50% of employees have experimented with Generative AIeither at home or at work.
• Workers may see significant automation through generative AI and other technologies 40% of the average work day’s tasks are ready for automation,
• Most employees believe automation will change jobs, so does the average employee 48% of their co-workers could be replaced by automation in the next two years,

AI’s potential for job automation or replacement

To understand the potential for automation based on job role, Valoir asked workers how much of their day they spent on 13 different work tasks, such as reading and responding to e-mail, managing calendars, and more. and scheduling, talking on the phone and attending meetings, entering data and coding, research and writing, and creative thinking and brainstorming.

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Here are the top 13 work tasks and time spent, as shown below:

Valoir found that the biggest opportunities for automation were in IT roles, with 48% likely to automate, followed by finance, operations, customer service, human resources and marketing. If employees in these roles were to fully leverage AI’s potential for automation, they could automate 40% of their workday on average, effectively enabling a three-day work week.

Valoir research indicates that realizing AI’s potential for automation will depend on a number of factors, including:

• Company Policies and Culture: Organizations’ official policies on the use of AI will matter, but culture will matter as well. Companies will need to balance the potential to increase employee productivity with the risks of potential misuse or unintended adverse consequences. Cultures that support a high degree of autonomy and personal responsibility are likely to benefit most from automation.
• technology and data readiness: To fully leverage the potential of AI, companies will need connected and trusted sources of data and safeguards to ensure the security, privacy and ethical use of data when AI is involved.
• human factors: Employees’ technology competency, willingness to experiment, and work confidence will affect their ability to use AI effectively.

The share of workers experimenting with AI by job role shows that IT is leading the way (90%). Although IT employees lead the group, followed by employees in human resources (HR), finance, and marketing, more than half of all workers have experimented with generative AI.

Valoir also shared the industry’s adoption of task automation, noting that the use of automation in business to increase productivity is not new.

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Advances in low-code and no-code tools and the adoption of robotic process automation during the past few years have already enabled many employees to automate a significant portion of work practices.

Valoir found that the average employee has automated 20% of previously manual tasks over the past two years, with aerospace, manufacturing, life sciences and healthcare adopting the highest levels of automation. So, what portion of the workforce is vulnerable to being replaced by automation or AI in the future?

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When it came to industries, employees in the financial services, high-tech, and education sectors saw the greatest opportunities for co-employee replacement, while employees in consumer goods, aerospace, and media saw the least opportunities. The research found different predictions for this question depending on geography and company size.

In terms of job roles, employees saw the greatest opportunities for the replacement of coworkers by AI in human resources, IT and finance, where a significant portion of daily work tasks are geared to intelligent automation in areas such as data entry and analysis. coding, and revising reports and documents. Interestingly, workers believe the least opportunity to change jobs is in customer service.

The research highlights concerns about AI. Valoir found that one in four workers are very concerned that their jobs will be replaced by AI in the next year; Most concerned about being replaced are workers aged 26 to 41 and those working in finance and IT roles.

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The research concluded with the following recommendations:

1. Leaders will need to deal with the difficult conversations of technology and job replacement, culture and employee-employer relations, and the value of autonomy (versus replacement capability) within the organization.
2. IT will need to ensure that the expertise, data hygiene, governance and guidelines are in place to enable employees and processes to derive maximum value from AI and automation. IT will also need to rethink its development and staffing strategies in order to redesign work within its department.
3. HR will need to work with legal and executive leadership to define new strategies and policies for the ethical use of data, new training plans for job replacement and upskilling, and updated employee experiences that work at the departmental and individual level. But let’s ensure the thoughtful use of AI.
4. Employees will need to re-evaluate their current roles and skills, and take advantage of opportunities to leverage AI as a digital assistant, or else risk being replaced.

to become a customer-oriented company, your employee and customer experiences should be powered by AI. IT leaders agree: 84% believe that Generative AI This will help them serve customers better, and organizations are thus accelerating their AI adoption. Generative AI has emerged as a vital tool to increase employee productivity and efficiency, enhance customer interactions, and help all parts of an organization work better and faster.

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consider how Developers are now using generative AI to help them write code, It is important to note that while AI can provide valuable assistance in decision-making processes, human expertise and judgment are still important, considering ethical, legal and contextual factors.

To unlock the power of AI, you need to:

1. Reliable and trusted customer data to build a cohesive customer profile.
2. Pre-built, custom, or public AI models – ideally a combination of these – to feed your data, so that the insights can be leveraged into automated actions.
3. A single platform with security and governance, enabling innovation and driving customer trust.

I believe that you are less likely to be replaced by AI and smart machines, and more likely to be replaced by someone who is better trained, more skilled, and able to get their jobs done faster and better. Intuitive to use AI and automation.

At least in the near term (the next 5 to 10 years), this is the more likely outcome. In a decentralized, digital-first, knowledge-sharing economy, AI is power for business and people; If you ignore AI, you will remain in the dark. Companies must deliberately invest in training their employees to adopt AI technologies to improve the quality of their work and enhance their ability to delight customers.