How the AI boom will affect contractors and freelancers
Posted about 5 years ago by Ellie Tibbs
One of the biggest technology developments during 2019, has been the increased level of interest in Artificial intelligence software - £1bn was invested by UK firms in the first six months of 2019.
The growth of AI has the potential to change the working landscape, most notably, enhancing labour productivity, to ensure tasks are completed faster and with less errors. This is likely to boost the UK economy by as much as 22% in the next decade. Faster turnover business sectors such as FMCG and wholesale could expect to see as much as a 120% increase in firm value.
Whilst the benefits of implementing AI are clear, the concern that some jobs may disappear, is prevalent. However, although an anticipated 30% of jobs may face automation by the mid-2030’s, the introduction of new AI software is actually predicted to create a more fluid and collaborative economy which could encourage more freelance work. Thus, benefiting those entering and already working within the contracting and freelance industry.
Implementing AI software (which enforces more effective contract matching systems) can improve payment processes and enable more control over project management - initiatives that are likely to facilitate the boost to the freelance sector. However, despite easing processes, many contractors are still concerned about the automation of their work - specifically, the introduction of new technologies like Adobe Sensei and ML Kit, which automate elements of the creative process.
There may be understandable concern that greater levels of automation may enable more junior level candidates to produce work of a higher quality, thus potentially devaluing the years of experience many contractors in the industry have. It is important, however, to recognise how the technological advances may speed up project processes.
For instance, the use of Google Datasets could enable developers and marketers to research trends at a faster pace, having the added benefit of creating more targeted and personalised projects. This could consequently help to stimulate consumer demand by as much as 8.4%, again demonstrating the wider economic benefit of AI.
Whilst the automation of some creative processes may cause some concern, we encourage freelancers to look at the wider picture. In saving time in some areas, it can encourage a greater diversity (and number) of available projects and time to enhance additional skillsets. Moving towards a more digitally focussed age is now seemingly inevitable so we would argue, it is advisable to get on board or potentially risk being left behind.
We recently sat down with Ellie, one of our freelance recruitment specialists, to discuss how the introduction of AI may affect freelancers at a personal level. She has offered some advice as to how this can be tackled and you can view this video below. If you have any further thoughts, please do not hesitate to get in touch with our freelance team today.
