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No-Code AI Beings are Shaping the Future of Work

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No-Code AI Beings are Shaping the Future of Work


With technological advances, modern organizations face two increasing but related challenges: optimizing business processes through automation and building a competent and resilient workforce that will embrace and advance automation.

On the one hand, organizations wish to adopt advanced technologies, such as Artificial Intelligence (AI), to automate their business processes and make their businesses more efficient and profitable. On the other hand, automation often requires technology expertise (e.g., AI and programming expertise) that organizations may not have or could not afford.

A Workforce Without Limits

The same technological advances also pose challenges for today’s workforce. Employees fear being replaced by machines, especially frontline employees like customer service representatives and manufacturing floor workers, many of whom often work for low wages and feel trapped in their positions. However, technologies can bring better job opportunities, which present employees with career advancement opportunities and social mobility.

The key question is how technology advancements can enable business processes to become more efficient while helping organizations build a competent and resilient workforce.

Since AI is an essential ingredient of technology advancements that enable more efficient processes via automation, the current trend of no-code, reusable AI could fundamentally change the future of work.

With AI and humans working side by side, it leads to a hybrid workforce that unifies human and machine intelligence (AI), where employees are the supervisors and users of AI beings.

Such a hybrid workforce will benefit from human employees’ strengths, such as creativity and analytic skills, while taking full advantage of machine powers to automate repetitive tasks and augment human capabilities.

Employees as Supervisors of AI Beings

Imagine the work life of Emma, a learning coordinator for an edtech company that provides a learning and coaching platform for adults. Every month, Emma onboards a new cohort of thousands of learners/students for different educational programs. These first-time managers look to gain leadership skills, and the first-time coders will participate in a coding bootcamp.

Every month, Emma feels overwhelmed by numerous and often repeated questions from the new students, not to mention that she also needs to check in on the new cohort periodically, keeping them engaged and advising them on their learning journey.

Now imagine an expanded team, Emma and her AI assistant, Collin.

Not only can Emma configure Collin (with no code!) to answer frequently-asked learner questions, but she can also task Collin to check in on the new students periodically and gather their thoughts and feelings.

During these interactions, Collin can also automatically infer students’ preferred learning styles and potential learning challenges, which enables Emma and her human colleagues to tailor their advice to each student.

In this scenario, Emma is the supervisor of Collin and is teaching him (it) new knowledge and improving his (its) ability to interact with students.

On the other hand, Collin augments Emma’s time and knowledge of each student, enabling her to do her job more efficiently and effectively.

 

Three example student profiles inferred by Collin through its interactions with the students. Such info will help Emma better interact and help the new students.

Can Emma Benefit From an AI Assistant Like Colin?

It is not hard to imagine that many employees like Emma could benefit from having an AI assistant like Colin. They can assist employees in multiple industries, including education, healthcare, financial services, and talent management.

With no-code, reusable AI tools, employees can configure and supervise their own AI assistants as easily as they use office tools like Powerpoint to prepare presentations and Word to create documents.

Similar to listing Powerpoint and Word as skills in their resume, employees who can manage AI assistants can also list “AI supervision” as a skill, improving their capabilities of working in a hybrid workforce and expanding their career possibilities.

In other words, not only will such employees not be replaced by machines, but they will also improve their career opportunities and social mobility.

Employees as Users of AI Beings

Let’s continue using Emma as an example. Emma does not want to be a learning coordinator for the rest of her career. She wants to get promoted and manage a team or even become a certified leadership coach.

To help employees like Emma develop their careers, organizations have also started utilizing AI to serve as an employee’s workplace companion or buddy.

A Happier and More Productive Workforce

One of the sweet spot practices for creating a happier and more productive workforce is to engage with employees in two-way conversations, answering their questions and listening to their needs and wants whenever they want.

While few organizations can afford to perform such a practice, an AI workplace buddy can certainly help. By submitting her job application, Emma is paired with an AI workplace buddy, Vita.

To help Emma find the role that suits her the best, Vita interviews Emma and infers her strengths and weaknesses from the interview. Based on Emma’s strengths and weaknesses, Vita could match Emma with suitable roles.

Furthermore, Vita always keeps in touch with Emma, answering her questions regarding career development or employee benefits, asking about her thoughts and feelings, assessing her skills, and using this information to notify Emma about new career opportunities or find mentors who may be a good match.

Through its interactions with Emma, Vita infers Emma’s soft skill map.

In addition to serving as Emma’s workplace buddy and aiding her in career development — AI assistants like Vita also greatly aid organizations in identifying and retaining talent.

As this New York Times article mentions, existing recruitment tests hardly elicit authentic results due to subjective, self-rated responses. Yet, an AI assistant like Vita can objectively infer unique characteristics from a conversation, eliminating potential faking and subjective scales.

Continuous Employee Engagement

Continuous employee engagement and proactive, personalized career guidance that an AI workplace buddy like Vita can deliver at scale and will also help organizations retain talent.

As Erica Keswin mentions in her recent book “Rituals Roadmap,” replacing an employee typically costs 50% to 200% of the employee’s salary while making professional development personal helps retain talent.

With many employees now working remotely, AI workplace buddies can also help organizations gain better insights into their workforce. An employer can gain a better understanding of their employees’ thoughts and feelings in a timely manner. The employee’s needs can be addressed, and course corrections made much more promptly.

In short, through these two-way conversations between employees and their AI workplace buddies, not only can an organization obtain continuous workforce insights, but they can also use the insights to plan the next best actions, such as talent retention and helpful career development.

AI workplace buddies like Vita are able to produce continuous, real-time workforce insights based on their interactions with employees.

Thanks to the availability of no-code, reusable AI, human resources professionals are empowered to configure and supervise AI workplace buddies on their own. Human resources can easily teach these AI beings domain knowledge without requiring the help of IT professionals — saving much-needed time and energy — and money that any other system will cost.

Responsibilities of Organizations for Reskilling and Upskilling

Investing in company talent benefits both employees and organizations in the long run. As the world continues to become increasingly powered by advanced technologies, it is every organization’s responsibility to help improve the skills of its workforce.

In particular, organizations should improve the skills of their workforce in two areas: AI literacy and Analyst skills.

AI literacy as a skill

AI literacy is the basic understanding of AI principles, including its benefits and limitations, and how to use no-code AI tools. It enables employees to supervise AI beings as well as leverage AI to benefit themselves, including career development and mental wellness.

Analyst skills

The future of work relies on making decisions based on data. Enabling employees to have an analyst’s mind and make data-driven decisions is especially important as AI democratizes data analytics processes.

For example, human resource professionals should be able to take advantage of the insights inferred by AI workplace buddies like Vita to make decisions around matching an employee with a job role or mentor.

Facing the “great resignation”

Facing the “great resignation” and economic downturn, organizations now must handle a greater number of challenges. No matter what challenges there are, people are still the core of any organization.

With advances in AI and its democratization through no-code, reusable AI tools, organizations, including non-IT teams, can now take full advantage of AI to build a hybrid workforce.

A hybrid workforce can leverage machine intelligence and human talents who are the best fit for the organization, skill-wise and culturally – truly creating a workforce without limits.

Featured Image Credits: Photo by Pavel Danilyuk; Photo by Pavel Danilyuk; Pexels; Thank you!

Michelle Zhou

Michelle Zhou

Dr. Michelle Zhou is Co-Founder and CEO at Juji.io. I am passionate about creating human-machine symbiosis, where everyone will have his/her own Artificial Intelligence (AI) companion, who can truly understand us as a unique individual and help us in our personal and professional life.
Hop on Linkedin and learn more: https://www.linkedin.com/in/mxzhou/

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Fintech Kennek raises $12.5M seed round to digitize lending

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Google eyed for $2 billion Anthropic deal after major Amazon play


London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from Kennek.io; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Fortune 500’s race for generative AI breakthroughs

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Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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Politics

UK seizes web3 opportunity simplifying crypto regulations

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Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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