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How Easy Are We Replaced?

How Easy Are We Replaced?

Written by Kirsten Ostrom

Could AI technology complete your job in a more accurate, cost-effective, and efficient manner? This just one of the questions that arise when discussing AI as a new approaching technological innovation. In three years, AI will terminate 1.8 million jobs, but what most people don’t realize is that it will create 2.3 million jobs [1]. Since 2013 jobs requiring AI skill have increased by 4.5X [2]. AI is a very specialized and complex field, that requires years of school and training. If the jobs that are created require AI skill, most of the people who lost their job would not meet these AI skill requirements. 

Most companies want to incorporate some aspect of AI and/or machine learning into their business. Companies have found that integrating AI into sales and marketing was able to, “increase their leads by more than 50 percent, reduce call time by 60-70 percent, and realize cost reductions of 40-60 percent” [3]. By integrating AI into companies by 2035 there is a potential of increasing profitability by 38%, which could lead to an economic boost of $14 trillion and gross value added [4].

AI already benefits all Netflix users today by recommending personalized TV shows and movies based on user interests, saving Netflix $1 billion this year [5]. AI also improves consumers shopping experience, thus 49 % of consumers shop more frequently and 34% spend more money [6]. AI will be incorporated into everything, effecting how we live, work, and play.

Ben Medlock argues that we are far off from human-like artificial intelligence since human brains are designed to predict outcomes, while AI brains are designed to memorize situations [7]. Deep learning could change how AI brains “think”. DarwinAI has been able to crack the difficulties of building a deep learning neural network that works properly, efficiently (in terms of resources, time, and money), acceptably, and what really sets them apart, explainability. They have been able to reach this high level of technology by using AI to build, optimize, and explain AI. With this new development in technology we are approaching the era of artificial intelligence. 

[1] https://learn.g2.com/artificial-intelligence-statistics

[2] https://www.forbes.com/sites/louiscolumbus/2018/01/12/10-charts-that-will-change-your-perspective-on-artificial-intelligences-growth/#62c4f38f4758

[3] https://hbr.org/2016/06/why-salespeople-need-to-develop-machine-intelligence

[4] https://www.accenture.com/us-en/insight-ai-industry-growth

[5] https://www.businessinsider.com/netflix-recommendation-engine-worth-1-billion-per-year-2016-6

[6] https://www.aitrends.com/ecommerce/one-third-shoppers-spend-ai-used/

[7] https://www.forbes.com/sites/forbestechcouncil/2018/08/28/how-far-are-we-from-truly-human-like-ai/#576b2d2931ac

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