AI collects and analyses big data for banks, insurance companies, doctors and lawyers. It also allows online casino operators at the likes of thunderbolt online casino to provide players with realistic odds and precise statistics so that they can win more money, more frequently.
In 2018 the invasion of Artificial Intelligence and automation into the global industry has reached staggering proportions. Chatbots, virtual assistants and autonomous militarised cyborgs are no longer figments of imagination. They are real, smart and ruthlessly efficient in everything they do.
AI Disrupting All Job Levels
Today machine learning technology is what AI robots were a decade ago. Instead of disrupting lower paid jobs in heavy manufacturing hubs like gold and coal mines, steel plants and automotive manufacturing companies, sophisticated AI software is storming the bastille of service orientated industries… and the powers that be are frozen with fear.
Recent reports emanating from the White House predict an era of 60 percent unemployment. Tesla’s Elon Musk has mooted the idea of a universal basic income grant to protect citizens from the devastating impact of the AI revolution. The late astrophysicist Stephen Hawkins believed that the mass destruction of jobs was on the immediate horizon, with only the most creative, caring and supervisory positions remaining in the clasp of human beings.
Caring Jobs Under the Cosh
Even in traditionally caring jobs artificial intelligence is gaining ground at the expense of humans. In China AI robots are stepping into the shoes of kindergarten teachers. These robots have most, if not all, the teaching capabilities of their real counterparts. Apart from carrying out conversations, playing games and singing along with the children, they are adept at teaching simple mathematics.
In Taiwan robots programmed in public relations are fulfilling the role of customer service advisers at major insurance companies, albeit with the helping hand of real live employees. All over the world robo-advisers are dishing out fact-based financial advice using big data analysis coupled with the individual’s appetite for risk.
Why AI Outshines Humans
What makes AI such an efficient and cost-effective substitute for humans is its ability to work around the clock without lunch, tea and bathroom breaks. It never demands overtime or takes off sick days. AI-based bots and systems are the ideal employees on virtually every level.
Although human programmers and techies are required to develop code, design systems and create the algorithms that automate processes, there’ll come a time when an advanced AI system will be quite capable of programming itself, learning itself and deploying itself!
Artificial Intelligence Driving Huge Cost Savings
In addition to seamless efficiency, Artificial Intelligence can save businesses money. An advanced AI system can easily counteract the initial custom development and procurement cost of $1.5 million or more with an estimated annual savings of $1 million. Even with annual maintenance expenses pencilled in at around $150 000 to $200 000, balance sheets and productivity levels have never been so good.
If you’re employed in the capacity of a customer, sales or office support manager or you’re in logistics or heavy industry, your days as a fully employed individual may soon be over.
Research indicates that almost half the employees in Japan will be made redundant. In the USA and the UK, the statistics may be a little less dire at 47 percent and 35 percent respectively. However, the socio-economic cost of largescale unemployment will be immeasurably harmful to both the individuals and the communities in which they reside.
The Flip Side: AI to Create Millions of Jobs
There’s a flip side to the ongoing debate around AI and its impact on jobs. Some influencers believe the above comments and scenarios are from alarmists who choose to see the glass half empty rather than half full. In their estimation technology has the capacity to create more job opportunities for more people in more ways than can be imagined.
eCommerce a Major Employer World-Wide
Industries tipped as future job creators of scale include ecommerce and cybersecurity. The former is driven by the insatiable appetite for online shopping. More and more folk are ordering merchandise from online stores on their devices. This means an ever-increasing volume of parcels that must be picked, packed and distributed around the country, either via the postal services or trucking companies.
We’re already seeing depots and distribution centres springing up in urban centres all over the world, all of which must be properly staffed with people of varying skill levels. In countries like the USA and the UK, there are literally thousands of delivery trucks on the road.
In the more advanced economies of the world, remotely operated drone deliveries are expected to become the norm rather than the exception. eCommerce is already providing employment opportunities for legions of skilled, semi-skilled and unskilled people right across the globe.
Cybersecurity to the Rescue
As the world becomes more digitalised, the incidence of cybercrime rises exponentially. The best way to protect and preserve data from the malicious attacks of hackers and cybercriminals is through self-learning AI and automation systems and processes.
This in turn requires an army of support technicians, coders, programmers and software developers. Two years ago, the cybersecurity industry in the USA created more than one million new jobs. Predictions are that a further six to seven million employment opportunities will be generated over the next few years… and that’s only in America!