AI in the workplace – the case for and against

What is AI?

AI or Artificial intelligence is essentially ‘intelligence exhibited by machines’. Whilst the first work in the field dates as far back as 1943, it is only in more recent years that it has become quite so prominent, specifically in relation to the transformation of the workplace. Suspicion surrounding the disruptive technology has begun to rise, especially when it comes to the unknown effects it could have on job losses. Either way, The Wall Street Journal rightly affirms that AI is changing the way managers do their jobs. We take a look at the impact that the progressively intelligent technology may have on the commercial property sector.

AI and the future of the workplace

“Artificial intelligence is not the future of the workplace, it is the present and happening today” says Forbes. It goes without saying that AI already has its place in making many roles and functions more efficient and cost-effective via an intelligent assistant or ‘chatbot’ using computer algorithms “to strip away those simple yet labour-intensive jobs from employees… to synchronise diaries, schedule meetings, send reminders, take actions from discussions and so on” reports recruitment company, Rullion.

Information Age discusses the huge impact of automation in the digital workplace as “businesses of all sizes (seek) to develop or implement automated processes which reduce the effect of human error or fatigue.” The key factor to take away from this is that AI serves to make offices and employees more functional and efficient rather than replace offices and employees.

Forbes outlines 10 ways in which AI is transforming the workplace:

1. Acting as personal assistants

2. Offering on-demand customer support

3. Providing in-depth product knowledge

4. Streamlining business processes

5. Empowering your HR and IT department

6. Manipulating data

7. Simplifying international payments

8. Reducing expenses

9. Increasing productivity

10. Helping with business-to-business applications

From this list we can see that AI has the potential to offer companies vast benefits if it is utilised effectively. Ben Haywood-Abbott, Innovation and Engagement Consultant at Wazoku enforces that AI “needn’t be employment Armageddon. If intelligent machine learning is to remove repetitive tasks, then it is also to improve our creative capability” putting forward a strong case for embracing AI where we can.

The AI approach to commercial property

Tech Emergence suggests that “process automation from AI offers a tremendous opportunity to lower costs associated with commercial real estate, especially those associated with property management.” They believe that AI will drive opportunities for savings over the next five years across three areas:

• Analytics in building automation systems

• Automation in property management job functions

• Machine learning in real estate marketplaces

Essentially the use of predictive analytics, chatbots to interact with building occupants, and virtual reality to accelerate deals will become more commonplace.

One property provider that is embracing AI wholeheartedly is online platform, Hubble, which launched three years ago with the aim of “disrupting the commercial property sector beyond all recognition”. The team is currently working towards “AI-enabled searches that will deliver within 30 seconds what a traditional agent would need around three days to research and collate.”

But is this what occupiers want and will they really favour a robot called Charlotte over traditional property agents? Perhaps a more feasible approach is one which James Dearsley of PropTech puts forward when he poses the question: “Could there really be a possibility that artificial intelligence and real estate could work together?”

The human approach to commercial property

Whilst there is little question over the benefits of AI in certain areas and for certain workplace functions, Ben Haywood-Abbotpoints out that “it’s not just headcount that you lose when you replace a human. Drastically cutting the wage bill may lead to short-term efficiency savings but there’s a huge cost involved. Replace humans and you lose both the good and bad of human intuition.” His standpoint stems from the premise that eliminating a human eliminates emotion and empathy, which in turn lessens the understanding of customer needs. In the long-run, this will lead to even less efficiency.

The Wall Street Journal supports Haywood-Abbot with a similar view that “automated decision-making may also tempt managers to abdicate their own judgment or justify bad decisions that would have benefited from a human touch.”

Others argue that the rise of AI will not hinder, but instead enhance workplace skills such as creativity and collaboration. CEO and founder at TechEmergence Dan Faggella defines creativity as “the ability to create, or to bend rules and convention in order to achieve an end” and collaboration as “working jointly on a project”, where both “imply the application of more intelligence to a particular problem”.

Faggella believes AI would enhance the collaborative process, giving the example that writing that very article, he was “able to delete, reorganize, link, and research” thanks to a variety of tech. He believes that AI can add “an entirely new level of ‘applied intelligence’ to projects that may extend beyond what internet research and human collaboration could ever achieve”.

The combined approach to commercial property

Ultimately AI is an incredibly complex field and one which cannot be simplified with a black or white prediction for the future. Without a doubt, AI cannot be ignored and more importantly, should not be ignored. It has its role in the workplace, but so do we as humans and we hope that this continues to be the case for many years to come.

Innovation is to be embraced and at SHB10 we are continually striving to be ahead of the game and to move with the market. We feel that Ben Haywood-Abbot’s affirmation that “Automation shouldn’t replace, it should empower” is one that rings true and as always our main goal is to be on hand to help you to get the best deal possible for your business and workspace. Please don’t hesitate to get in touch with our expert advisors if you have any questions or would like to discuss potential opportunities – info@shb10.co.uk – @SHB10_UK