04 June 2019 Shaquib Wasif

How does AI augment human role in knowledge intensive areas?

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Unlike Artificial Intelligence that works for replacing mundane tasks with automated machines, augmented intelligence works on extending human cognitive capabilities by coupling people and machines to solve bigger problems.

A person working as a customer support representative will possess interpersonal attributes which would always be lacking in a machine. So while the simpler queries can be handled by a chatbot, an irate customer will most likely need a person to talk to.

AI human augmentation should not be looked upon as a step targeting reduction of human involvement or manpower reduction, rather it’s something that gives people the opportunity to expand the depth of what they’ve already been doing. It is a step towards reducing manpower involvement in routine and repetitive tasks like data entry, report generation and dash board preparation. Such monotonous tasks can be performed by machines to achieve far more accurate results and elimination of human manual errors. This would pave the way for generation of new jobs in the market whereby humans would be engaged in far more intelligent and productive tasks of monitoring tasks performed by machines and bringing about developments which would result in reduction of costs and increased performance productivity.

AI and humans working together in Knowledge intensive areas:

Knowledge intensive areas refer to areas where experts work by reasoning, creation, decision making and by applying insight in non-routine cognitive processes. When working together errors can be double checked by augmenting AI and human efforts. How AI augments human roles in a few knowledge intensive areas have been explained below.

AI human augmentation in Finance and Banking:

With blockchain, digital transformation and regulations coming in, a huge revolution is expected in the world of banking and finance. Single function repetitive jobs which can easily be taught to programs include telephone operators, cashiers and bank tellers, data-entry keyers, call centre employees, receptionists and secretaries are being taken over by machines. Jobs like tax preparers, accounts clerks, insurance underwriters, financial advisers and analysts are also expected to deliver better with aid from AI.

Replacing repetitive jobs using sophisticated algorithms has resulted in financial institutions to generate greater efficiencies, boosting productivity and lowering costs. In fact it is expected that with AI coming in professionals who are equipped in AI technologies, both on application and technical levels will find jobs more easily in times to come.

Wealth managers are now able to handle portfolios better because system generated snapshots can be analysed better and they can cater to clients more effectively with the help of these tools.

AI human augmentation in Healthcare:

Human with hands will always be required for driving health care but ways of doing things and exercising controls will change with inclusion of AI.

One of the biggest potential benefits offered by AI is a tool to help people keep fitter and healthier such that the need to visit Doctors is minimised. From a Healthcare professional’s view point, AI enables them to understand the day to day medical needs and ways of treating them with the help of AI.

AI human augmentation the field of product development:

AI may be trained to identify and then codify qualitative information from articles, reviews, surveys, far better and faster and in far more greater quantities that can be done by any team of humans. If these tasks are performed by AI, it would allow far greater time to analysts to parse data for information and trends thus enabling informed and better decisions and allowing better turnaround times. This in turn would enable scientists or product specialist’s to detect minor product problems before they become wide spread and facilitate generation reports on environmental changes at greater frequency than it would be generated otherwise.