The role of technology in boosting the productivity of the global workforce
National Productivity Day is celebrated on February 12 every year to remind one to take steps towards increasing your daily productivity levels. This day aims to draw attention to the power of productivity in improving our quality of life. It is a reminder for us to build good habits and skills to achieve our goals. This year’s theme for the day is “A chance to set goals.” The theme highlights the fact that improved productivity helps us set better goals in life. This day is also celebrated to promote new practices and technologies that help improve the productivity and efficiency of today’s workforce.
In today’s digitally driven world, the impact of technology on the workforce cannot be overlooked. Technology has its hands in every industry that is driving the global economy, from IT, healthcare, education and more. It wouldn’t be wrong to say that technology has improved the overall productivity of the global workforce. Let us look at the top technology trends of 2023 that will boost productivity in work environments.
Artificial Intelligence and Machine Learning (AI & ML)
Even though AI and ML have been there for a while now, rapid improvements in these technologies are creating an impact. AI-driven programs can assist professionals gather accurate information in a rapid manner. This helps boost employees’ work output. AI can help organizations draw consumer behavior patterns by analyzing data in real-time. AI powered tools such as chatbots help improve customer service, resulting in better customer and client satisfaction. For instance, ChatGPT, an advanced AI driven chatbot is creating quite a buzz. It uses deep learning techniques to general human-like responses, just like any conversation.
Machine learning, a subset of AI, is also being deployed across industries as it helps businesses improve productivity by finding valuable insights from databases.
Extended Reality (XR)
Extended Reality is an umbrella term for virtual reality (VR), augmented reality (AR) and mixed reality (MR). Extended reality is used by companies to increase productivity by giving professionals the ability to work in virtual environments without distractions. The use of XR is bringing about positive changes across industries, improving customer experience and making the workforce more productive. For instance, if an organization is starting a mass hiring process, with the help of XR, they can extract the rind kind of employees based on your requirements. XR can also speed up the onboarding process and provide immersive training to new employees.
Blockchain technology helps businesses store and share information securely. It allows organizations to transfer data transparently without worrying about privacy issues. With large amounts of data being generated every day, data breaches are also on the rise. It takes immense effort of manual labor to fix every data breach or intrusion. Blockchain is a great solution to this problem. It provides high security to underlying data, improving the efficiency of businesses.
Datafication means transforming raw data into relevant, useful information. It is used to gain insights from large datasets and improve productivity at the workplace. Datafication uses techniques like machine learning, predictive analysis and data mining to extract information from vast amounts of data. As businesses have adopted digital technologies over the last few years, the use of datafication has increased. It can also be used to automate certain tasks, that results in improved productivity.
Internet of Things (IoT)
IoT helps improve collaboration among employees within an organization that is working remotely and enhances business processes. Organizations use IoT to automate processes that improve the efficiency of daily operations. For instance, in manufacturing industries, smart sensors can help detect repairs or malfunctions and alert technicians. Moreover, small fixes can also be automated, improving efficiency.
On the whole, technology has helped improve the productivity of professionals on an Indvidual level, and in turn improve the overall efficiency of businesses. Since the time workforces have entered the new normal, i.e., virtual work environments, technology has helped improve the productivity of professionals and businesses.
How it has helped working professionals
Even though companies and employees took some time to adjust to working remotely, it proved to be a productive alternative. From working from home during the peak lockdown period, to working while traveling, remote working boosted the efficiency of employees. It allowed them to work flexible hours in a comfortable environment. Technological inventions have eased the work of professionals, helping them meet their deadlines. A study by Stanford of 16,000 over 9 months indicated that working from home increased productivity by 13% and they reported improved work satisfaction.
The business impacts
Increased productivity of workers directly results in improved efficiency of businesses. Moreover, organizations offering work from home opportunities could hire candidates across geographies, helping them have employees from diverse cultural backgrounds. Employees who prefer to work from home will stick to the company for a longer period and display greater productivity. Companies also saved up on costs like electricity, rent, travel arrangements and more.
Information related to companies and external organizations is based on secondary research or the opinion of individual authors and must not be interpreted as the official information shared by the concerned organization.
Additionally, information like fee, eligibility, scholarships, finance options etc. on offerings and programs listed on Online Manipal may change as per the discretion of respective universities so please refer to the respective program page for latest information. Any information provided in blogs is not binding and cannot be taken as final.
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