Companies and workers that fail to embrace artificial intelligence will be left in the dust
Why will the current pyramid structure of companies likely face disruption?
Because Artificial intelligence (AI) will begin taking over the repetitive, mundane tasks from everyone’s job, according to the lead researcher at Reventure, Dr Lindsay McMillan.
“There will also be changes to what organisations in the professional services look for in candidates and technological aptitude will be high on that list,” he said.
Indeed, AI is expected to cause organisational restructuring amongst firms in the professional services, according to the latest report from Reventure.
The Industry Insights report found organisations in the legal, accounting, management and engineering services are just some of the sectors that will be impacted by AI.
Dr McMillan added that AI would likely start by replacing entry level work in the professional services, however millennials will not be the only ones impacted.
The research also found that business leaders were struggling to keep up with inherent issues in their workplaces, leading to 49% of Australian workers considering themselves likely to look for a new job over the coming year.
Dr McMillan said that despite the inevitable technological changes, purpose and meaning are still at the forefront of importance for organisations.
“It is also likely that if employees don’t have purpose and meaning in their work, the AI revolution will impact them the hardest,” he added.
“But many of the jobs thought of as unimportant in professional services have an important function in the organisational machine, leaders simply have to communicate that importance.
“Sometimes it can be as easy as making the connection to an employee with their everyday tasks and how it contributes to the overall goals of the organisation.”
The report also stated that education and training is an area of significant growth. In fact, the industry is expected to grow 12% in the next five years, employing 1,084,700 people, according to the Federal Government.
It said that it is vital that the foundation of this sector is grounded in “effective workplace habits”.
Moreover, it argued that carefully selecting teachers within a team for projects means that employees collaborate and learn from others with different skills sets, or encourage workplace huddles which allows for “short bursts of creative internal input to solve problems”.
“This will facilitate engagement including developing a listening culture,” said the report.
“The feedback received by teachers and staff should always be heard, even if it cannot necessarily be actioned.
“A lack of trust and understanding between teachers and executives can create an environment where more vocal measures are called upon to gain attention, which to a more extreme end of the spectrum can include strikes.”