Human + machine teams
Organizations in our study espouse the idea of modern work supported by machines and driven by human workers. Respondents firmly believe intelligent machines will take on a greater portion of the labor involved in executing various data-oriented tasks, from about 15% of this work today to 22% by 2023 (see Figure 6). Such work includes leveraging data for complex decisions and sifting large data sets for actionable insights.
When intelligent machines take on the work of collecting, managing and analyzing data, the self-learning algorithms that drive them can learn much faster and generate valuable insights, helping businesses lower costs, improve productivity and offer more targeted products and services to customers.
Machines move into routine tasks and complex work
Respondents were asked to what extent a range of activities would be carried out by machines vs. humans, now and in 2023. (Percent of work done by machines)
Base: 287 senior banking and financial services executives Source: Cognizant Center for the Future of Work Figure 6