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As people who hope our children or grandchildren will never drive, we read with interest a recent New York Times opinion piece claiming that Owning a Car Will Soon Be as Quaint as Owning a Horse. As the author smartly put it, “everything that can be digitized will be digitized.” But we might make a slight update to the sentiment. Within the next decade, if something can be run by algorithms, it will be. This is especially true in the business world where cost is always key.
Machine learning (ML) and artificial intelligence (AI) applications are booming in the corporation world. Whether the task is candidate selection, inventory management, targeted marketing, or manager development, there’s an algorithm for that. While algorithms aren’t always replacing humans, they are usually changing the way we work—just like platforms, and eventually self-driving cars, change the way we travel even if we’re still in cars. As algorithms take over businesses, here are our best guesses on what practices soon become as charmingly old fashioned as punching a timecard:
You can see that AI is going to change the way we work and live from the front lines to the c-suite. Algorithms are rapidly taking over a variety of tasks, and the hope is that they will free us up to do work we enjoy, with fewer spreadsheets and resumes, and live our best lives, free from “face time” at the office and long lines at the grocery. Some of the tasks that will likely be left to us humans are those that depend on our higher arts—creativity, motivation, persuasion, and empathy and we look forward to seeing what the workforce will look like in 2030.
So, what can you do in the age where software is eating the world and algorithms will run what’s left over?
No leader is safe from the rapid change we are seeing in the age of algorithms. Businesses are transforming at rapid pace and there is no time to dilly dally. Learn how to make use of algorithms to build on your human skills or risk being replaced entirely.
By Barry Libert and Megan Beck
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