In the age of artificial intelligence (AI), business success will increasingly depend on people and machines collaborating with each other. AI will elevate people’s capabilities as workers help intelligent machines to learn and improve. This will not only drive efficiencies but create new forms of growth and innovation. To succeed, organisations must reimagine work, pivot their workforce to new growth models and ‘new skill’ their people to do more valuable work.
While businesses are successfully using Al to improve efficiencies, many are struggling to use it to drive growth. The ability to create new customer experiences lies at the intersection of humans and intelligent machines. Our economic modelling and extensive research of more than 1,200 business leaders and 14,000 workers shows that there is an urgency to act.
Key Findings:
1. Al investment will boost
revenues, profits and employment
If companies were to invest in AI and Human-Machine Collaboration at the same level as the top performing fifth of companies, they could boost revenues by 38% and lift employment levels by 10% between 2018 and 2022. That equates to an average of US$7.5 billion and 5000 jobs for an S&P500 company in that time.
2. Revenue and employment boost by industry
3. Businesses recognize that value creation lies at the intersection of humans and intelligent machines
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The Future of Work Supplement:
Future Workforce: Reworking the Revolution
official FUTURE OF WORK PARTNER: