As the world embraces the Fourth Industrial Revolution (4IR), robotics and artificial intelligence (AI) are playing an increasingly important role in business. While they offer the benefits of improved efficiency and productivity, there are concerns about whether their adoption will lead to job losses and questions about how best to train people to take full advantage of the situation. technology.
âUntil ten years ago, AI was not a buzzword,â said Azman Hashim, president of the South-South Malaysia Association (MASSA).
âToday we know that our respective companies generate a lot of data and that data can be mined and analyzed to reveal hidden ideas and patterns that can be very profitable. With an AI system that can deliver information we can take faster, more accurately, even enabling automated decision making to allow us business owners to focus on other aspects of their business â , Hashim said during a webinar hosted by MASSA, the Expertise Resource Association, the Malaysia-Japan Economic Association, and the Selangor Human Resource Development Center.
AI spending is expected to reach $ 98 billion by 2023 according to International Data Corp and there are already 3 million industrial robots operating in factories around the world.
âRobots are increasingly seen as the solution to many challenges,â Hashim said. âRobotics is seen as the solution to hot, heavy and dangerous situations that can work well under such conditions. “
Advances in technology have reduced the cost of producing robotics, making it affordable in industries such as aerospace, automotive, food and beverage production, pharmaceuticals, healthcare, and retail. Employers will need to come up with new roles for workers and provide them with the training they need to work in sync with their fellow mechanics, Hashim said.
âI see a future where we will have to coexist with robots and these robots will be progressively more intelligently wired as we move forward. This opens up a new area of ââbusiness opportunities, new investment, training, retraining and creating new jobs, âhe said.
AI has come a long way since Alan Turing proposed the concept in the 1930s, but Professor Sim Yee Wai, dean of computer science and engineering at QUEST International University Perak in Malaysia, said that it still could not replace human thought.
“He is still far from being competent when it comes to dealing with complicated issues that involve philosophy, emotions and ethics,” he said. âHumans are even more superior in the areas of high-end thinking and interpersonal skills. An ideal strategy would be for humans and machines to work hand in hand to take advantage of each other’s strengths. We can devote low level, very repetitive, trivial and uninteresting work to machines and this will allow us to focus on more complex tasks.
Adopting the new technology could bring major economic benefits to global economies, according to PWC. It indicates that the global gross domestic product could increase by an additional 14% due to AI.