Robots make better decisions than my boss according to Gen Zers
New research from financial software provider, Advanced reveals financiers’ bold predictions for the future of workplace tech within the finance industry, from AI to human technology implants.
Speaking to more than 5,000 senior decision-makers, the research has discovered that over half (55%) of financial leaders believe AI will be used to make critical business decisions by 2030, stepping up the integration of AI-based technologies within the workplace.
The move appears to be employee-approved by younger generations, as 64% of Generation Z think a robot would be better at decision-making than their boss. A stark contrast to the number of over 55’s who feel the same, which sits at 25% less.
This divide was anticipated, with younger generations entering the workforce expecting the same standards of technology in the workplace that they interact with in their personal lives. As many as 80% of Gen Z respondents said they are happy to work alongside robotic technology if it means fewer manual processes, whilst 40% are already using AI in their everyday work.
However, the consensus for an uptake in AI tech as a whole holds a generally negative sentiment. Just 19% of financiers felt that the workplace would be positively transformed by robots and AI-based technology, despite 40% also stating their organisation’s leadership is currently prioritising technology investment.
This is likely related to the fears held by many regarding job security in the world of ever-developing automation and AI adoption.
Addressing these fears, Daniel Docherty, Director of Strategy at Advanced Financials comments, “The automation revolution has already started within the finance sector.
Some worry that this will lead to widespread job losses. However, the journey towards true AI is a slow one, so there is plenty of time to figure out where people fit in.”
He added: “In the meantime, finance workers can enjoy fewer repetitive tasks in their daily routine, and get involved with more fulfilling work around strategy and innovation.
It is also likely that new (and previously unimagined) roles will be created due to the technologies that are emerging. This will give employees an opportunity to learn and adapt, which assists with their ongoing development and career prospects.”
Advanced’s survey identified some bold predictions for how this new tech will be integrated, with one-third of financial leaders agreeing that AI will ultimately replace at least 50% of manual work. Aside from AI, 35% feel we will use more embedded technology options by 2030, whilst shockingly almost half (47%) expect microchips and other human technology implants to be in workplace use by then.
Advanced CFO, Stephen Dews explains how these new technologies can even assist a CFO: “Accurate market prediction, forecasting, budgeting and planning skills are an inherent part of the CFO’s role.
When AI can handle massive datasets, and used correctly can provide key information at a granular and macro level for improved decision-making, why wouldn’t a CFO embrace this technology? It is our job to consider what is likely to happen and how to best prepare for the future.”
For a full rundown of Advanced’s future technology predictions, and what this means for the financial sectors, visit: www.oneadvanced.com/news-and-opinion/workplace-technology-predictions.