By: Stephanie Porfiris, October 13 2021
Artificial intelligence (AI) is one of humanity’s largest disruptors. It has incredible implications for our planet’s future and alters how we interact with the world around us.
Paige Dickie, Head of Machine Learning Business Management at Layer 6, hosted a three-part series of conversations, presented by TD Bank, exploring the many ways AI is disrupting the working world.
Here are our top takeaways we wanted to share from this discussion 👇
AI can improve diversity throughout the hiring process.
Hiring is an area ripe for disruption. “Inequity in the workplace isn’t a problem solely once someone is hired,” Paige explains. “Systemic bias in the hiring process is one of the main causes of inequity in the workplace.”
Maaz Rana is the COO and co-founder of Knockri, a start-up seeking to improve this particular ecosystem. “AI and machine learning tools work in a myriad of ways in talent acquisition and HR,” he says. Everything from sourcing talent to digitizing traditional psychometric assessments can and will improve with artificial intelligence.
But many artificial intelligence platforms don’t achieve ideal results
“Many of these tools are blackboxes, and you can’t tell exactly how they are making suggestions or arriving at results,” Maaz explains.
Additionally, AI platforms can hinder the push for a more inclusive hiring process. Maaz cites Amazon’s AI résumé screening initiative as a case of artificial getting in the way of DEI improvement. Amazon’s use of historical data in training their résumé-screening tool led to the algorithm disproportionately screening out women.
Maaz and his start-up Knockri are harnessing AI’s power for good. “Knockri was specifically built to tackle the problem of human bias in hiring and talent management,” Maaz says.
Here are more of his thoughts on Knockri’s mission and goals 👇
AI can also increase efficiency in personal and commercial banking
Eli Fathi, the CEO of Mindbridge, has witnessed firsthand the power of AI in the financial sector.
“The bank has the ability to look at all our information,” he explains. “It can utilize NLP (natural language processing) to address all of the difficult, boring, tedious parts and handle it in a much more efficient way.”
But transparency can still be improved.
Hear Eli’s thoughts on avoiding blackboxes in the banking ecosystem:
AI can help sales teams answer their most fundamental questions
Helen Kontozopoulos, Co-founder and Chief Evangelist at ODAIA.ai, believes customers are more overwhelmed than ever. In order to maintain interest, companies need to address a foundational question: why should customers buy what they’re selling?
“AI can help us show our value proposition, and answer that ‘why’,” Helen explains.
The host, Paige Dickie, sees an underlying threat – and opportunity. “Every stage of a prospect’s path presents an opportunity to lose their interest.”
This is what Helen thinks about the role of AI in the customer journey:
But sales teams still need to be intentional about maintaining the human aspects of their processes.
Are customers being lost to automation? Are they frustrated with the lack of human contact? Are they missing any information?
“The risk is not to lose our customers,” Helen says. “The question is, have we really created a connection with them? That is more important.”
The widespread permeation of artificial intelligence will significantly impact our daily lives, no matter where we work. But, if harnessed properly, AI can make the professional world a more diverse, efficient, and connected environment than ever before.