Published on April 7th, 2020 | by Sunit Nandi0
AI in Business: Rob Morton, Past Home Capital, Home Trust Executive, Speaks to Trend
Everyone, in some capacity, has seen how new technology and artificial intelligence has impacted daily life. From ride sharing to connecting with friends to the way we do business, automation has become increasingly sophisticated, often leaving some people worried it will put them out of work.
The truth is, automation has driven disruption in the workforce since the early nineteenth century. While AI is certainly threatening some job positions, it is also improving and extending the roles of others.
One organization researching the impact of AI is The RAND Corporation. RAND Engineer Osonde Ope Osoba says, “It’s not so much that the jobs are getting displaced. It’s more like tasks are getting displaced and jobs are reconfiguring over time to account for that automation.”
Another professional who has seen the impact of AI in the workplace is Toronto executive Robert Morton. He explains that artificial intelligence can actually strengthen business operations and improve the customer service experience.
“Look. Data is everywhere. It allows us to look at customer needs far more accurately. You can only do that if you have the proper capabilities and artificial intelligence and technology is allowing for a more streamlined approach to customer service,” says Rob Morton.
Business owners and employees are typically juggling many different things all at once. Whether it’s logistics, crunching numbers, keeping track of suppliers or managing staff-related issues, a large portion of the day is filled with these and other related tasks.
Morton goes on to explain, “With AI, help is at hand. Now, AI is attainable to more than just large corporations with extensive funds. However, in order to keep ahead of technological advances, companies need to incorporate and adapt to AI or risk falling behind.”
He adds: “AI will improve Fintech in the very near future by increasing the accuracy of payment and lending, and it will also become a platform that provides the financial industry with embedded services to any business needing to subscribe to them.”
Professor Diane Bailey concurs with the importance of implementing workplace technology, “But faced with a technology that has the potential to disrupt the landscape of work in such a universal way, immediately and simultaneously, we felt like we have to get in the barn before the horse leaves.”
AI-based software solutions automate key aspects of business management by enabling employees to carry out tasks in a few minutes rather than several hours. Artificial Intelligence is helping companies to gain a competitive edge in the market by providing them with different services and solutions.
Rahul Agarwal, Founder of Artyosis and E-Gaushala has extensive experience and knowledge in the field of AI. He sums up the importance of establishing workplace AI by saying, “Having done revolutionary projects on Artificial Intelligence and being an author of the book about deep learning in AI, it is inevitable that Artificial Intelligence is going to create a new world for us. From people’s lifestyle to business and leisure time, AI will make things much easier and more productive.”