In an age where technology and artificial intelligence is changing the fundamental ways in which humans interact with and perform their jobs, organisations across the globe are beginning to integrate intelligent technology within workforces in a drive towards a new revolution.
Accenture conducted research and modelling on over 1,200 businesses and 14,000 workers, and found that companies that wove AI and collaboration between humans and machine had projected increases in revenue by 38% over the next 5 years. With just under half of businesses across fields like Banking, Financial Services, Telecom and Healthcare already remodelling training programs for new employees to refine this human-machine relationship, technological aptitude is becoming a key drawing point for employment within the next 3-5 years. From their research, Accenture has determined that by the year 2022, technical skills revolving information technology and AI will be the most sought-after characteristics of employees working in many of these firms.
However, there is a large mismatch currently, with less than 1/3 of the 14,000 comfortable with their current skills in AI. One of the leaders in this space is Morgan Stanley, looking to head the charge in the disruption of the modern banking system. Morgan Stanley has begun a rapid augmentation in their 16,000-strong workforce through the introduction of AI agents. These artificial agents utilise machine learning to work alongside the financial analysts to provide intricate options to better help these analysts advice their clients and produce portfolios that best match the needs and changing global financial dynamics. This has not only freed up the time of employees to work on more critically-focused tasks, but has seen an increase in client satisfaction.
Though many feel these steps by Morgan Stanley can’t be sustained in the banking world in the long run, it is clear the role AI and technology is beginning to play in all aspects of business.