Elon Musk was right when he said that Artificial Intelligence (AI) systems and automation will eventually take over most human jobs and, in what can be seen as a first case in India where the country’s software giant Infosys has “released” 8,000-9,000 employees in the past one year because of automation of lower-end jobs, which is confirmed by the company’s human resources head Krishnamurthy Shankar in a statement to ET.
Notably, these released employees are now working on more advanced projects, so its not that automation or AI has stole the human jobs but it actually transforming at least in this case of Infosys.
Machine learning and Artificial Intelligence previously required expensive computing machines, but costs have now come down dramatically.
As part of its Automation, Artificial Intelligence and machine learning adaptation drive, the company has been releasing about 2,000 people every quarter and also training them in special courses that will help them in their new assignments.
In a research report, released by Infosys itself said that the majority — 85 percent — plan to train employees about the benefits and use of AI, and 80 percent of companies replacing roles with AI technologies will retrain or redeploy displaced employees.
The report also predicts that organizations that have already deployed or have plans to deploy AI technologies expect to see a 39 percent average increase in revenue by 2020, alongside a 37 percent reduction in costs. 76 percent of IT and business decision makers see AI as pivotal to the success of their organization.
Infosys has trained about 490 people in a first batch of machine learning and the use of artificial intelligence (AI).
Shankar, who is an Ex-Philips executive has joined Infosys in 2015, added that with automation set to increase in intensity, the number of people it hires will come down over time.
Infosys has added 5,700 people in the first nine months of FY 2016-17, compared to about 17,000 in the same period FY 2015-16. In the December quarter, Infosys’ total employee strength actually declined which is an extremely rare occurrence for India’s No. 2 IT services company. The total strength fell by 66 to 1,99,763.
Overall, the role AI can play in business growth, create opportunities for people to do more than what their current job and education enables, and drive long term macro environment benefits. Decision makers believe AI will bring out the best in their organization’s people, and feel it can deliver positive societal and economic change.
[Top Images – Shutterstock]