Strategic HR, Training

Company Leaders Optimistic About AI, Cognitive Technologies

A new survey conducted among 250 U.S. executives representing companies that are adopting artificial intelligence (AI) and cognitive technologies do not see job loss as a key outcome of their efforts.  Nearly 7 in 10 (69%) expect very little (if any) job loss within the next 3 years, while 29% of these ‘cognitive aware’ executives believe new jobs will be added in the same time frame as a result of adopting AI and cognitive technologies, according to the survey by Deloitte.

cognitive technologies

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The 2017 Deloitte State of Cognitive Survey also reports that 63% of the companies represented in the survey have training programs in place for employees “to learn how to develop cognitive technologies or work alongside them,” according to a Deloitte press release announcing the findings.

Deloitte defines “cognitive technologies” to include machine learning, deep learning neural networks, natural language processing, rule engines, robotic process automation, and combinations of these capabilities for higher-level applications.

“There is a concern that ‘the rise of the machines’ will replace human workers, but we should look at how people and machines can work in collaboration as co-bots,” Deloitte CEO Cathy Engelbert, explained in the press release. “The ability to leverage new technologies to retool our workforce will ultimately lead to new opportunities to build high value skills for our workers.”

Over 8 in 10 (83%) of company leaders surveyed reported that their companies had already achieved either moderate or substantial benefits from their work with AI and cognitive technologies. Among other predictions, 90% of respondents see these technologies as playing a larger role in shaping company strategy, while 76% believe they will substantially transform their organizations.

 More information and survey data are available at Deloitte.com