Contrary to envisaged fears that emerging technology like Artificial Intelligence (AI) will put a lot of humans out of jobs, SAS, a global technology solution company has said the computerised system if well applied, will create more jobs and help improve human efficiency, using data analytics.
The information on the role of AI in business growth was revealed at the SAS Road to Digital Transformation and Artificial Intelligence Workshop, which held in Lagos on Tuesday.
Senior Business Solution Manager, Advanced Analytics and AI at SAS, Mr. Larry Orimoloye, argued that emerging technology like AI was actually transforming businesses creating more jobs and enhancing business efficiency.
According to him, in a customer operation centre where humans are responding to customers’ complaints, a lot of training and investment are being put into in to enable the staff respond accurately to customersâ€™ needs and challenges.
However, he pointed out that this is something that machines like robots can easily do because they have been programmed to do so and they have the intelligence to it accurately.
“So, in such a situation, the robots can take over the jobs while the humans that hitherto do the jobs, can be unskilled into more productive assignment, without loosing their jobs, and add more value to the business of the organisation.
â€œAgain, the information generated from AI, through data analytics will help humans make better and informed decision at the press of a button,” Orimoloye said.
â€œToday unstructured data has become the corner stone of businesses because there are lots of data to generate from unstructured data that organisations could use to make better and instant informed business decision,â€ Orimoloye added.
On his part, the Vice President, SAS Africa, Mr. Desan Naidoo, said: “AI sets new target for organisations and helps organisations to make informed decisions based on the outcome of its data analytics.”
He said looking at the challenges of procurement fraud in the financial sector already threatening the operations of banks, the financial institutions are already looking for solutions that would address all of that.
According to him, his firm has the solution that can flag off fraudulent financial transactions before they are concluded and once implemented, banks can prevent procurement fraud.
“What we do at SAS is to analyse data and provide results that will help organisations to make informed decision,” Naidoo said.
Artist and Co-founder, Cyborg Foundation, Mr. Neil Harbisson who spoke on how technology is assisting him to understand his natural world, said he was born colour blind but was able to implant a physical antennae in his brain that allows him to understand the different sounds of colours and make true meaning out of them.
“I decided to merge with technology in order to sense more realities with the natural world. Humans have limited number of sensors, but if we merge with technology, we could have more sensors that will enable us understand and unfold the real beauty of nature,” Harbisson said.
Also, the Senior Industry Consultant, Global Banking Practice at SAS, Mr. Alex Kwiatkowski, stressed the need for financial services providers to collaborate with FinTechs and use more of data analytics to make informed decision that will enhance customer experience.