Bloomberg Línea, in an article published on its blog, cited research from the consultancy Accenture, revealing that Artificial Intelligence (AI) has the potential to replace or improve up to three quarters of work in banks.
Furthermore, it is projected that banks can increase their productivity by up to 30% by adopting generative AI in the next three years. This perspective not only highlights the transformative impact of AI on the banking sector, but also signals its expansive potential to redefine operations in the public sector and various private sector roles.
The ability of AI to replace or enhance a large portion of work in banks indicates a significant shift, with broad implications for multiple areas of activity.
In the Public Sector, the application of AI can radically transform several areas:
1. Citizen service: Just as AI can manage customer queries in banks, it can be applied to automate citizen service in public offices. This improves efficiency, reducing queues and waiting times, and providing a more agile and satisfactory service to the public.
2. Document processing: AI has the potential to speed up the analysis and processing of a vast amount of documents. Similar to processing loans and credit applications in banks, this technology can be applied to requests for documents, licenses, and various authorizations in the public sector, making processes faster and less susceptible to human errors.
3. Data-driven decisions: Just as AI helps make credit decisions based on complex data, it can be a valuable tool in formulating public policy. Analyzing large volumes of data to identify patterns, needs and opportunities for intervention can result in more effective and better-targeted policies.
In the private sector, outside the banking sector, AI also promises significant transformations:
1. Human Resources: AI can revolutionize recruitment and talent management by identifying ideal candidates and personalizing career paths. This personalization, similar to that offered by banks in their financial services, can increase employee satisfaction and productivity.
2. Supply Chain: Supply chain optimization, with demand forecasting and inventory management automated by AI, reflects the use of algorithms to manage assets and investments in the banking sector. This application can result in more efficient operations and reduced waste.
3. Marketing and Sales: Just as AI personalizes financial offers for bank customers, it can be used to personalize shopping experiences. Recommending products or services based on past behavior and preferences can significantly increase the effectiveness of marketing and sales strategies.
4. Security and Fraud: Cybersecurity, crucial for banks, is equally important in other sectors. AI can detect abnormal patterns that indicate fraud or cyberattacks, protecting sensitive business and customer information.
In the commerce sector, specifically, AI has the potential to impact several professions, such as:
– Boxes: With the introduction of ATMs and self-checkout systems, the need for human cashiers can be reduced.
– Packers: Automated packaging systems are already being implemented at many retailers.
– Sellers: Customized e-commerce platforms, chatbots and virtual assistants can assist customers during the purchasing process.
– Stockists: AI-based inventory management systems can optimize replenishment.
– Managers and supervisors: Advanced data analysis tools can help with decision-making and optimizing operations.
– Administrative assistants: AI can take over routine tasks, allowing these professionals to focus on more strategic tasks.
– Maintenance workers: Predictive and preventive maintenance can be optimized by AI.
The application of Artificial Intelligence (AI) in the metalworking industry represents a true revolution in the way manufacturing and maintenance processes are designed and executed. AI can be implemented to optimize the production chain, from component design to final assembly, using advanced algorithms to improve efficiency, reduce costs and increase safety. For example, AI systems can analyze large data sets from machine tools to predict failures before they occur, enabling proactive maintenance and preventing unplanned downtime. Furthermore, AI can help in the development of stronger and lighter materials, through computer simulation, accelerating innovation and improving the properties of metals used in industry.
Another revolutionary aspect of AI in the metalworking sector is mass customization. AI allows machines to automatically adjust to manufacture custom parts on a large scale without the need for human intervention, which was unthinkable with traditional production methods. This not only increases production flexibility, but also opens up new markets for customized products. AI is also transforming quality inspection, using computer vision and machine learning to detect defects with greater accuracy and speed than manual inspections, improving final product quality and customer satisfaction.
The integration of AI into the metalworking industry is not without its challenges, especially with regard to the impact on the workforce. Some functions that could be significantly impacted or even disappear include:
1. Conventional machine operators: With advanced automation, machines can operate autonomously, reducing the need for human operators.
2. Quality Inspectors: AI systems can perform faster and more accurate quality inspections, reducing the need for manual inspections.
3. Preventative maintenance technicians: AI-based predictive maintenance can minimize the need for regular checks by technicians.
4. Production planners: AI can optimize production scheduling in real time, which can reduce the need for human planners.
5. Process Data Analysts: With AI capable of analyzing and interpreting large volumes of production data, the role of analysts can be reduced.
6. Manual assemblers: AI-guided robots can take on complex assembly tasks, decreasing demand for manual assemblers.
The adoption of Artificial Intelligence (AI) is reshaping the landscape of multiple sectors, from commerce to the metalworking industry, where, for example, the manufacturing of precision components can be optimized by AI algorithms to reduce waste and improve the quality of the product.
In the banking sector, AI is already transforming the way customers interact with financial services, providing personalized and secure experiences.
These are just emblematic examples of how AI is becoming a driver of change in a wide range of fields, including both the private and public sectors, where operational efficiency and service delivery can be significantly improved.
The implementation of AI promises to not only improve efficiency and reduce costs on an unprecedented scale, but also has the potential to revolutionize the user experience across multiple industries.
In the metalworking industry, for example, AI can enable the creation of production systems that adjust in real time to market demands, while in the public sector, it can improve the provision of government services through automation and data analysis.
In all of these sectors, personalization and continuous improvement of services are just some of the advantages that AI can offer.
However, it is essential to approach the transition to a more automated environment with an ethical and socially responsible perspective.
The expansion of AI in sectors as diverse as commerce, the metal-mechanical industry, the banking sector, and the public sector, among others, must be accompanied by policies that ensure that workers are not left behind.
This entails investing in education and training to equip today’s workforce with the skills needed to thrive in the new economy.
Furthermore, an inclusive dialogue must be promoted among all stakeholders to ensure that the benefits of AI are distributed fairly and that the technology is used for the common good, ensuring that the AI revolution is a positive force for the progress in all segments of society.
Source: BLOOMBERG LINEA. AI can replace or improve three-quarters of work in banks, says consultancy. Available in: Accessed on: 03/11/2024