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Article 1 - Brandon White 23083870 ✔ page 24 

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Article 1 - Brandon White 23083870 ✔ page 24 

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Leskzkiewicz, A., Hormann, T. and Kraft, M.(2022) "Smart Business and the Social Value of AI". Advanced Series In Management,28(19-34)

Here’s an essay on smart business, the social value of AI, and its impact on the changing nature of work and employment, using Harvard referencing:

The advent of artificial intelligence (AI) is transforming the landscape of smart business, creating not only economic opportunities but also significant social value. As organizations increasingly adopt AI technologies, they are faced with a dual challenge: maximizing efficiency and ensuring that the changes benefit society at large. Leszkiewicz, Hormann, and Krafft (2020) argue that AI's integration into business practices can enhance productivity while simultaneously addressing the evolving needs of the workforce in a rapidly changing employment landscape.

AI's ability to process and analyze large datasets enables businesses to streamline operations and improve decision-making. This efficiency can lead to cost savings and increased competitiveness, which are essential for survival in today’s market. However, the implementation of AI also raises questions about the future of work. As machines take over repetitive tasks, the nature of employment is shifting, with a growing emphasis on skills that complement AI, such as critical thinking, creativity, and emotional intelligence (Leszkiewicz et al., 2020). This shift necessitates a reevaluation of workforce training and education, ensuring that employees are equipped to thrive in an AI-enhanced environment.

Moreover, the social value of AI extends beyond operational efficiency; it has the potential to create more inclusive workplaces. For instance, AI can facilitate remote work and flexible job arrangements, allowing individuals with disabilities or caregiving responsibilities to participate in the workforce more easily. Additionally, AI-driven tools can help reduce bias in hiring processes, promoting diversity and inclusion (Leszkiewicz et al., 2020). By focusing on these aspects, smart businesses can not only improve their productivity but also contribute positively to society by fostering a more equitable working environment.

In conclusion, the intersection of smart business practices and AI technologies presents a unique opportunity to reshape the future of work. As highlighted by Leszkiewicz, Hormann, and Krafft (2020), the impact of AI on employment is profound, necessitating a shift in skills and a focus on inclusivity. By embracing AI responsibly, businesses can drive innovation while ensuring that the benefits of these advancements extend to all members of society.

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Gkinko,L, and Elbanna,A.(2023). "Hope tolerance and empathy: employees' emotions when using an AI-Enabled Chatbot in a Digitalised Workplace" Smart Business and the Social Value of AI, 150(1-12)

AI's ability to process and analyze large datasets enables businesses to streamline operations and improve decision-making. This efficiency can lead to cost savings and increased competitiveness, which are essential for survival in today’s market. However, the implementation of AI also raises questions about the future of work. As machines take over repetitive tasks, the nature of employment is shifting, with a growing emphasis on skills that complement AI, such as critical thinking, creativity, and emotional intelligence (Leszkiewicz et al., 2020). This shift necessitates a reevaluation of workforce training and education, ensuring that employees are equipped to thrive in an AI-enhanced environment.

Moreover, the social value of AI extends beyond operational efficiency; it has the potential to create more inclusive workplaces. For instance, AI can facilitate remote work and flexible job arrangements, allowing individuals with disabilities or caregiving responsibilities to participate in the workforce more easily. Additionally, AI-driven tools can help reduce bias in hiring processes, promoting diversity and inclusion (Leszkiewicz et al., 2020). By focusing on these aspects, smart businesses can not only improve their productivity but also contribute positively to society by fostering a more equitable working environment.

In conclusion, the intersection of smart business practices and AI technologies presents a unique opportunity to reshape the future of work. As highlighted by Leszkiewicz, Hormann, and Krafft (2020), the impact of AI on employment is profound, necessitating a shift in skills and a focus on inclusivity. By embracing AI responsibly, businesses can drive innovation while ensuring that the benefits of these advancements extend to all members of society.

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HP (2024) AI in the Workplace Report - March 2024. Available at: https://www.hp.com/content/dam/sites/worldwide/apps/work-relationship-index/reports/ai-in-the-workplace/us-en_ai-in-the-workplace.pdf (Accessed 8 December 2024)

This industry report from HP attempts to analyse peoples relationships with work and how AI could impact that relationship. They begin the report by setting out the methodology for their research by revealing that they surveyed 15,624 people from all over the world in order to find out what their relationship was like with work. They then attempted to find out how they thought AI would impact that relationship and the overall working environment before categorising them into job groups and economy types with their country either being an emerging economy or mature economy. This set the basis for how the results would be shown. They first reveal that on average, from the countries they surveyed, "Only 27% have a healthy relationship with work". Before revealing the second conclusion that their research led them to which was that every job group from every nation thought that AI would positively impact their relationship with work. This is very significant as many sociologists and business analysts like Mayo pointed out that happy workers are productive workers, if companies are able to motivate their workers they end up greatly boosting their efficiency. This report also contrasts many news stories and research papers that claim AI would be significantly negative to the working environment. One strength this report has is that the sample size for the survey was very significant and the range of countries surveyed made the data very reliable and representative. Another strength is that we can verify the initial claims, the results for the first question about employees relationship with work was also in line with other secondary sources about employment which tell us that the data is accurate. On the other hand a potential weakness that this report may run into is that due to the fact it is made by a very large tech company, its easy to question the motives of HP and ask whether they may be in favour of AI due to corporate interests. Secondly, there is also no mention of third party peer reviewing of this data which means it hasn't been checked for misinformation or personal bias that misrepresents data. Without this verification it's hard to rely on the data or present it as fact as there's no official information on its authenticity or accuracy throughout.

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Microsoft. (2023). AI at Work Is Here: Now Comes the Hard Part. https://www.microsoft.com/en-us/worklab/work-trend-index/ai-at-work-is-here-now-comes-the-hard-part#section1

In the industry report "AI at Work Is Here: Now Comes the Hard Part" published by Microsoft, the transformative role of artificial intelligence (AI) in the workplace is explored, This report sheds light on how AI is reshaping the nature of work and employment, and the implications it has for the working environment.

One of the key strengths of AI identified in the report is its ability to enhance productivity and efficiency. AI technologies can automate routine tasks, allowing employees to focus on more complex and creative work. This shift not only increases overall productivity but also has the potential to improve job satisfaction, as workers can engage in more meaningful tasks. Moreover, AI can provide valuable insights through data analysis, helping organisations make informed decisions and adapt to changing market conditions.

on the other hand, the report also addresses significant weaknesses associated with the integration of AI in the workplace. One major concern is the potential for job displacement. As AI systems become more capable, there is a fear that many roles could be automated, leading to unemployment for workers in certain sectors. Additionally, the report highlights the challenge of ensuring that AI is implemented ethically and responsibly, as biases in AI algorithms can lead to unfair treatment of employees and perpetuate existing inequalities in the workplace.

The impact of AI on the working environment is profound and multifaceted. As organizations increasingly adopt AI technologies, the nature of work is evolving. This shift necessitates a reevaluation of skills required in the workforce, with a growing emphasis on digital literacy and adaptability. Employees will need to be equipped with the skills to work alongside AI, which may involve reskilling and upskilling initiatives. Furthermore, organizations must foster a culture of collaboration between humans and AI, ensuring that technology complements human capabilities rather than replacing them. while AI presents significant opportunities for enhancing productivity and decision-making, it also poses challenges related to job displacement and ethical considerations. As the nature of work continues to change, organizations must navigate these complexities thoughtfully to create a working environment where both AI and human workers can thrive together.

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AI at Work Is Here. Now Comes the Hard Part

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The 2024 Work Trend Index reveals organizations need to move beyond experimentation and drive growth, manage costs, and deliver value with broad adoption of AI.

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Ekelund, H. (2024) "Why there will be plenty of jobs in the future - even with artificial intelligence". Available at: https://www.weforum.org/stories/2024/02/artificial-intelligence-ai-jobs-future/ (Accessed 18 November 2024)

This article on the World Economic Forum by Henrik Ekelund attempts to give an overview of how AI will impact the working environment and why he thinks it wont be as tragic as many other sources make it out to be. He makes the argument that "While new technology often replaces certain jobs, it also creates ne roles." This article has been chosen as Ekelund attempts to answer the question of how AI will impact the workplace in a non conventional way, lots of sources claim AI will be negative for the job market as it will replace jobs however Ekelund argues that the opportunities it creates outweigh the potential negatives"

One possible strength this article could have to back up its claims is that the author is the founder and CEO of a very successful logistics business in the agriculture field. This could mean he has lots of knowledge surrounding how businesses operate and how technology can be incorporated to advance productivity. Another strength this article has to back up its validity is that it comes from the World Economic Forum, an impartial, apolitical think tank that aims to improve the state of the world economically through business. This strengthens its reliability because it's a well respected organization internationally so there's lots of scrutiny placed on the articles they release.

However, there are some possible weaknesses this article has that may impact its reliability. Due to the fact his business is at the forefront of technology, Ekelund may have a vested interest in AI or be in a particular circumstance that many other business owners aren't, giving him reason to support AI and promote it to the public. Another potential weakness to this article is that it isn't peer reviewed, the World Economic Forum doesn't have any information on the vetting process its articles go through meaning there could be misinformation or personal bias from the author shining through. This calls the accuracy and objectivity of the article into question even though the World Economic Forum presents itself as apolitical, if there is no peer reviewing process for articles it becomes very easy for writers to both intentionally and unintentionally let bias influence their articles.

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Concerns have been voiced about the effect of new technology on existing jobs many times throughout history.

But while new technology often replaces certain jobs, it also creates new roles.

Investment in skills and infrastructure will help economies adapt to the changes that the latest technology - artificial intelligence (AI) - will usher in.

In the early 1960s, just as the information technology revolution was taking its first baby steps, a committee of scientists and social activists sent an open letter to the US President, Lyndon B. Johnson: "The cybernation revolution" will create "a separate nation of the poor, the unskilled, the jobless" who will be unable to find work and to afford life's necessities, they argued.

Three decades earlier, in the 1930s, according to The Atlantic, a California mayor wrote to the US President that industrial technology was a "Frankenstein monster" that threatened to upend manufacturing, "devouring our civilization".

These doom and gloom predictions of how new technology would lead to a worse world proved to be utterly wrong, of course - just as many similar, earlier predictions about the effects of new technology had been. But the most recent World Economic Forum meeting in Davos, presented a déjà vu moment: An IMF report concluded that 40% of jobs around the world will be affected by AI. In advanced economies, that rises to 60% of jobs set to be affected by machine learning, with about half being negatively impacted. The losers will face lower salaries and reduced hiring, and some jobs will disappear altogether.

Over the last 200 years, predictions of fewer jobs in the future have generally proven to be false. The pessimists have been wrong repeatedly. But make no mistake - hundreds of millions of jobs have been destroyed. First, agricultural technology replaced millions of farming jobs, while the industrial revolution moved people into factories. Then automation moved them back out of the factories, giving rise to an economy of services.

Throughout these waves of creative destruction, however, the total number of people employed has risen. Today there are a record number in employment across the globe and in almost every country.

Number of people employed worldwide (billions), 1991-2023 Image: International Labour Organization

But it will be different this time because AI is different. Technology will not always support people in doing their jobs, it will primarily replace jobs. New types of jobs will emerge, however.

Trying to imagine the new world of work

If you were a farm worker 120 years ago - like roughly three quarters of all people at the time - would it have been possible for you to imagine a world where only one in 20 people worked on farms? Could you have anticipated the range of new jobs available to workers today? Even 20 years ago, economists probably wouldn't have predicted that there would be 800,000 personal trainers employed in the US today and 2.5 million jobs in the app development industry.

It's possible that we are experiencing the same difficulty today in trying to imagine the new, unknown jobs of the future. We can't see into the future, but we can shift our perspective on the possible creation of new jobs by asking broader questions.

First, are all of our needs satisfied today? For instance, would we like higher quality food? Would we like better services from businesses or government agencies? Would we like more efficiently or more beautifully designed products? Do we want better health - physical and mental? New roles could be created to address these needs and wants.

Second, will new needs arrive as our society evolves - as we work through solutions to our current global challenges and as new innovations arrive? A future equivalent to today's smartphone could create entirely new sectors of employment. It's possible that we are not able to imagine this today, but if the patterns of the last 200 years continue, these jobs will arrive.

Third, will an increase in demand for products and services lead to new jobs? New technology will eliminate some jobs, yes. But in many cases, it will support a worker in doing a better, more efficient job, lowering the cost of production. When products and services become more affordable, demand generally increases.

Last, and perhaps most relevant: How can policy makers and government agencies best facilitate the dynamic creation and rotation of the labour market towards new jobs? This will be particularly important if, as is likely,creative destruction and job changes continue, possibly at a higher rate than ever.

Investing in new technology and jobs

Small and mid-sized businesses create a disproportionate amount of new jobs around the world. So, freedom for entrepreneurs and investors to create and grow businesses will be more critical than ever as new technology becomes more available.

A more flexible and free labour market should allow more rapid moves between sectors and businesses as the nature of jobs change. This means that nations that are less attractive to entrepreneurs and investors because of lower economic freedom and heavily regulated labour markets may suffer from more unemployment. Alternatively, nations with open and free markets will keep creating new jobs to replace the lost ones.

Creative destruction stemming from tech development may lead to hard times and new challenges for many people, as well as for whole cities and regions. Governments can play an important role in alleviating this by providing opportunities or support programmes for reskilling, as well as unemployment benefits and other forms of transitional safety nets.

During the industrial revolution, local and national governments made major public investments to teach the skills of reading, writing and math that were necessary for the new jobs at that time. There was also investment in new roads, ports and other infrastructure. In this new era, we need public investment in digital skills for everyone, as well as digital highways that allow regions to participate in new economic opportunities.

As we all try to imagine the new, unknown jobs of the future, we must ask the right questions about new technology and how it will affect our work and our industries. By shifting our perspective on how new jobs can arise from new technology, we can ensure AI brings about change that works for everyone.

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Why there will be plenty of jobs in the future - even with AI

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New technology always causes alarm about its potential harm to jobs. But while AI will have huge impact, there will still be plenty of work left for humans.

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Zarifhonarvar, A. (2023) "Economics of ChatGPT: a labor market view on the occupational impact of artificial intelligence", Journal of Electronic Business & Digital Economics, 3(2), pp 100-116.

This research paper by Ali Zarifhonarvar from the University of Bloomington Indiana aims to analyse both the short term and long term impacts AI, more specifically chat bot AI models like Chat GPT could have on the working environment. He does this by first looking at the entire job market and then uses the International Standard Classification of Occupations (ISCO) to divide the job market into different categories. He then analyses which jobs will be impacted by chat bot AI models and how severe that impact will be. Zarifhonarvar (2023, p. 14) found that "32.8% of occupations may face a Full Impact, 36.5% may experience a Partial Impact, and 30.7% may have No Impact". These results give us a great insight into how AI could impact the working environment and show us that job replacement could be a real worry with nearly a third of all jobs being fully impacted. One strength this study has to back up its validity is that it comes from the department of economics in a reputable American university and can be found on the online publishing website "Emerald Insight" who peer review all of the content posted to their database to ensure its reliable and doesn't contain misinformation. A second possible strength that supports the papers reliability is that Ali Zarifhonarvar has done multiple papers on AI and its impact on the economy, this means he's well researched and may have knowledge that he's gained from past research that other researchers may not be aware of. On the other hand, a possible weakness that could call the validity of this paper into question is that he did the research alone. This is because people are prone to letting their subconscious personal biases affect the data or research they produce regardless of whether or not they mean to. By working as a pair or team it becomes much easier to mitigate your influence on the research and ensure that your data and interpretations of that data are accurate. Finally, although the paper is only just over a year old, AI is advancing at such a rapid rate that some aspects of the research, especially areas that reference previous research, may be outdated or misleading as multiple ground breaking updates to Chat GPT have been made in the past few months alone.

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Nanu, Z. (2024) Artificial inclusion: How AI is reshaping the workplace Available at: https://www.businessleader.co.uk/artificial-inclusion-ai-reshaping-workplace/ (Accessed 8 December 2024)

This article by Zara Nanu from Business Leader, an exclusive membership organisation of CEOs and founders of mid-sized businesses that release articles and offer business advice. She specifically focusses on the social inequalities that AI could exacerbate such as gender dominated roles and inequal access to education. She argues "The automation of routine tasks disproportionately affects jobs typically held by women, such as secretarial work, data entry and retail positions". This could mean although economically AI comes with benefits, those benefits could come with human costs. She also makes the points that if specialist roles are the main beneficiaries of AI, that it will certainly come at the cost of those who don't have access to specialist education, further widening wealth inequality. To conclude the article she makes the point that if companies want to implement AI to change their organisation they should also be "promoting gender diversity in AI-related fields and developing AI systems that are fair and inclusive". One strength of this article is that it was written only a few months ago, meaning all of the information is more likely to be up to date and the references she made within the article are more likely to be accurate. This is important with AI as it's one of the fastest developing technologies in the world and information from even a year ago could now be inaccurate due to advances. A second strength is that it gives a different perspective than many other articles or research papers, rather than focusing on how many jobs will be gained or lost, she looked at who would be gaining or losing those jobs. This gives a strong insight and a potential answer as to how AI will impact the working environment. On the other hand, there are a few potential weaknesses in this article that could question its reliability. Firstly, the article comes from Business Leader, a private membership group of CEOs and business owners, this means the authors could have financial incentives or reason to show personal bias. Secondly there isn't any available information on peer reviewing meaning the authenticity of the article is entirely on the writer, this means data could be inaccurate or misinterpreted, damaging the articles reliability and potential accuracy.

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(Image: Laurence Dutton)

As artificial intelligence (AI) and automation evolve, they will transform the global workforce significantly. According to a report by Goldman Sachs, AI could affect 300 million jobs worldwide, either by eliminating them or altering their nature.

This will have far-reaching implications not only for the labour market but also for pay equity and economic activity, with different consequences for men and women due to various factors, not least because of occupational segregation.

Impact on jobs

AI and automation are expected to revolutionise various industries by streamlining tasks, enhancing productivity and reducing the need for human work. The Goldman Sachs report highlights that jobs in sectors such as administration, customer service and manufacturing are most vulnerable as they can involve repetitive tasks, which AI systems can do more efficiently.

The automation of routine tasks disproportionately affects jobs typically held by women, such as secretarial work, data entry and retail positions. AI can automate scheduling, data management, and customer service interactions. However, in many cases, AI will alter the nature of existing jobs, requiring workers to adapt to new technologies and develop new skills.

This transformation may open opportunities for those who can upskill into new roles, but it also risks exacerbating existing inequalities, particularly if access to training and education is uneven.

Effect on pay and economic activity

On one hand, AI has the potential to boost productivity and economic growth, leading to higher wages and increased job opportunities in certain sectors. On the other hand, the displacement of jobs in sectors such as retail, administration, and manufacturing could lead to wage stagnation or even declines, particularly in jobs that are easily automated. Wage impacts will not be evenly distributed between men and women.

For instance, in the healthcare sector, which employs a high proportion of women, AI could automate routine diagnostic tasks, potentially reducing the demand for certain roles while increasing the demand for AI specialists and data analysts, roles which are currently male-dominated.

These positions command higher pay due to their technical nature and scarcity. In the UK women make up approximately 22 per cent of the workforce in data and AI roles - less than the global average of 26 per cent.

Gender differences and the influence of AI

AI's influence on jobs is not limited to job displacement and wage impacts; it also extends to how AI is integrated into daily work processes and how men and women use AI differently in their jobs. Research shows that men and women often approach technology differently due to varying levels of access, confidence, and encouragement to engage with technology from an early age.

The gender gap in AI usage is also complicated by the underrepresentation of women in AI-related fields. This discrepancy means that women may have less influence on how AI is developed and implemented, leading to AI systems that may not fully account for gender differences or that perpetuate existing biases. For example, AI systems used in recruitment or performance evaluation could inadvertently reinforce gender biases if they are trained on biased data.

Being fair and inclusive

The rise of AI and automation is set to reshape the workforce in profound ways, with significant implications for jobs, pay and gender equity. As AI continues to advance, it is crucial to address the challenges posed by occupational and task segregation to ensure that the benefits of AI are shared equitably. This includes investing in education and training to help workers adapt to new roles, promoting gender diversity in AI-related fields and developing AI systems that are fair and inclusive.
Zara Nanu is a serial entrepreneur and a member of the women's leadership board at Harvard Kennedy School.

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Artificial inclusion: How AI is reshaping the workplace - Business Leader

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Zara Nanu explores how occupational segregation and uneven access to education could exacerbate gender disparities

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Nortan, J. (2023). "Experts predict AI could one day do all our jobs better - but workers claim it already does" Available at: https://www.dailymail.co.uk/sciencetech/article-13315791/amp/Experts-predict-AI-one-day-clever-job-workers-claim-are.html

(accessed 8 December 2024)

as noted by Nortan, is its ability to perform tasks with high efficiency and accuracy. AI systems can analyze large datasets quickly, leading to improved decision-making and productivity. This capability allows organizations to optimize their operations and reduce costs, which can benefit both employers and employees by creating a more dynamic work environment. Additionally, AI can take over repetitive and mundane tasks, freeing workers to focus on more creative and strategic aspects of their jobs, thereby enhancing job satisfaction and engagement. Alternatively, the article also points out significant weaknesses of AI, particularly concerning job displacement and the potential loss of human jobs. Many workers express concerns that AI could replace their roles, leading to unemployment and economic instability. This fear is compounded by the rapid pace of technological advancement, which can outstrip the ability of workers to adapt and retrain for new roles. Furthermore, the reliance on AI may lead to a decline in essential human skills, such as critical thinking and interpersonal communication, as tasks become increasingly automated. The impact of AI on the working environment is profound and multifaceted. As AI continues to evolve, it is likely to reshape the workforce, necessitating a shift in how employees view their roles and responsibilities. Organizations will need to adopt strategies that emphasize reskilling and upskilling their workforce to ensure that employees can thrive alongside AI technologies. This transition will require a cultural change within organizations, fostering an environment where human workers and AI can collaborate effectively rather than compete against each other.

while AI presents significant strengths in efficiency and productivity, it also poses challenges related to job displacement and skill erosion. As the nature of work changes, it will be crucial for organizations to navigate these dynamics thoughtfully, ensuring that the integration of AI enhances rather than undermines the human experience in the workplace.

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Half of workers claim AI already does a better job than them

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With millions of jobs at risk from AI in the future, a survey of 16,000 workers found nearly half admit the technology can already outperform them in ‘routine tasks’ - and pays better attention to detail.