Capgemini Digital Transformation Review is a flagship publication. On its 11th edition, it focuses on AI or Artificial Intelligence. This is especially helpful mostly for all enterprises, and to most consumers.
Artificial Intelligence Decoded
This edition presents various viewpoints on AI. The purpose is to break the ‘hype and fog’, as they claim. Because they have spoken to a wide scope of experts.
- Corporates
- Startups
- Academics
- Venture capitalists
- Technology vendors
Let us then see some of their insights.
AI: Augmented Intelligence
Michael, the Global Head of AI in the Group Digital team of Prudential shares his insights about AI.
AI Is What?
Michael quotes what an Author of the book Artificial Intelligence, Elaine Rich says. That AI “is the study of how to make computers do things that people, for a moment, are better at.”
So, He firmly believes that AI is not mainly about automation. But, it’s more concerned about scalability, and the value of a better customer experience. This is apart from what most believe about AI. Of which is more about the ‘cost’, rather than its value.
Moreover, He believes that AI is more compliant than humans. He states that integrating AI enables a business to be more ‘compliant by design’. Which is true, because AI helps lessen human errors. Thus, making it more compliant with regulations.
AI Initiatives
- Robo advisor- launched in their Taiwanese business
- Employed about 600,000 financial advisers globally
- Increasing data about the customer and financial markets. This data is gathered to help tailor the best suggestions to serve customers.
AI Versus Humans
There is this wrong notion that AI is taking place humans’ place. But He believes that the contrary is true.
For instance, their launching of Robo Advisors does not mean the replacement of actual human advisors. “We don’t want to replace our advisors”, Michael says.
Rather, he highlights that AI is for ‘augmentation’. Thus, AI is developed to help humans be the best of their abilities. Instead of thinking Robo Advisors are taking place our human advisors. Think about how these human advisors can make the best use of these robots. And further upskill the amount of productivity they can have.
One possible hindrance to leveling up productivity is the cost of repetitive tasks.
Because he has personally observed how time spent answering a call can be better used for ‘what humans are more capable of’. That is, more than answering calls. So why not let the machines do so? This is where human intelligence should drive its value.
‘Killing Jobs’
On the other hand, employees should not excessively worry about losing jobs because of AI. Michael says, “we have no interest in killing jobs”.
People are well-trained in the field. In truth, robots can not fully comprehend what a human brain can do. There’s no robot more intelligent than a human brain’s capacity.
So the prime purpose of this Augmented Intelligence is to use employees to the best of their abilities. For instance, eliminate the human workforce on tasks that do not require their skills and knowledge.
This way, human employees can better focus on being productive according to their skills.
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