Many companies investing in AI are “unknown” how they will make them more efficient, but employees still risk adapting to the technology or falling behind, said the workplace guru.
“So far, AI has looked like a great perpetrator of work and cost savings,” told Business Insider, Thomas Roule, professor of organizational sociology and leadership at Cambridge University.
However, the expected increase in efficiency from AI has not been “fully realized” and “many companies that bet on AI are not sure how this profit will be realized,” Roulet said.
His comments reflect the findings from Bain & Company's annual technical report released this month. The consulting firm writes that AI is expected to increase productivity, but that “most companies either don't lock these benefits at scale or see meaningful benefits in cost-effectiveness and revenue growth.”
Danish economists tracked 25,000 workers across 7,000 workplaces and found that widespread recruitment of AI chatbots has not affected revenue or working hours, according to a working paper published in May.
Others disagree. “Shark Tank” investor Kevin O'Leary owns many small business stakes, but recently told Business Insider that when it comes to AI, “you can “see productivity and measure it by dollar.”
He said that ignoring AI could “conceived risk of being delayed,” while “it could lead to many companies accepting AI in a symbolic and ritualistic way.”
AI can determine winners and losers among workers and businesses
Roulette told Business Insider that the benefits of AI are unequal, unequal and unevenly distributed.
He said that as technology takes on tasks for more people, there will be a “gap widening” between people from software developers to creative professionals who have the skills to “directly complement or enhance AI” and those who do not, such as managers and manual workers.
A Goldman Sachs economist estimated in August that “generating AI will ultimately drive away 6-7% of US workers.” Workforce information company Revelio Labs has found that employment, such as information specialists, business analysts and operations managers, have seen the biggest decline in the number of open roles over the past two years.
Related Stories
Business Insider tells the innovative stories you want to know
Business Insider tells the innovative stories you want to know
Business intelligence firm Gartner recently predicts global spending on AI will almost double from under $1 trillion last year to $2 trillion north of 2026.
Tech giants like Openai and Oracle are planning to invest hundreds of millions of dollars in AI microchips, data centers and AI infrastructure.
Roulette also said dollar investments “disproportionately target the costs of other sectors to AI,” including industries that generate high-quality data needed to train and support AI.
It is important to learn and adapt to the AI era
Roule advised young workers to be strategic about their skills they invest in time and energy.
He warned that AI might make some skills redundant, but future technology could soon “reshuffle the situation again.”
Given the dangers, Roule recommended developing “learning skills” and passion for learning.
