World Knowledge Forum

[WKF 2020│NYU Stern MBA] The Heterogeneous Impact of AI on Work and Organizations│Robert Seamans

Economic/Financial2020-10-29

 

* The Heterogeneous Impact of AI on Work and Organizations│Robert Seamans: Artificial intelligence (AI) has been advancing rapidly: venture capital investment in AI startups has increased almost ten-fold and global annual purchases of robots have tripled over the last ten years. In all likelihood, the advances in AI will help stimulate economic growth in many countries. However, some worry that this technology-enabled growth will come at a substantial cost. For example, prior research has warned that AI threatens 15-30% or even 50% of jobs. In addition, there are concerns about bias and privacy. AI also has implications for organizations. In some cases, AI might substitute for workers and in other cases might complement them. Among other challenges, managers will need to understand the tradeoffs in each case, to formulate a strategic plan for how to implement AI, to communicate this plan to employees and other stakeholders, and to anticipate how these changes will affect the organization’s competitive positioning vis-à-vis other organizations. In all cases, implementing AI changes the nature of the work that people do in organizations. If managers don’t correctly anticipate how AI will affect their organizations, there may be less adoption and less economic growth. #AI, #RobertSeamans

 

 

 

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