AI News, 10 Jobs Artificial Intelligence Will Replace (and 10 That Are Safe) artificial intelligence
C-Suites Are Increasingly Mentioning Robotics On Earnings Calls
Automation is already all around us. Cities are seeing front-end automated restaurants like Eatsa gaining popularity, while in factories automation has already arguably been a part of life for years (if not decades) in the form of heavy industrial and agricultural robots.
Analyzing the automation landscape, we found that 10 million service and warehouse jobs are at high risk of displacement within the next 5 – 10 years in the US alone.
With the emergence of industry-specific AI, the effects of automation — initially felt in manufacturing — are seeping into retail sales, restaurants, e-commerce, marketing, and even software development.
Innovation in microprocessors — particularly Nvidia’s graphic processing units (GPUs) — have played a large role. While Nvidia GPUs were initially targeted at the gaming industry, they have showed promising results in artificial intelligence, and are now widely used in training deep neural networks.
It’s a two-way street: startups can now build on existing frameworks instead of starting from scratch, and at the same time Google’s own AI research is accelerated by contributions from outside the organization.
In an interview with Digitimes last year, Dai Jia-peng, general manager in Foxconn’s Automation Technology Development Committee, outlined a 3-phase strategy for complete factory automation: automating dangerous tasks, process line automation, and a third phase that would leave only a minimum number of humans on board for tasks like logistics and quality control.
Dai Jia-peng told the South China Morning Post that “highly automated manufacturing is still an ideal,” since ever-changing consumer demands require highly flexible manufacturing robots that are able to adapt rapidly to design and manufacturing changes.
Amazon, for example, already uses 45,000 robots in various warehouses, but at the same time is creating thousands of new jobs for humans in its new fulfillment centers.
Ralph Hamers, CEO of ING In financial markets, global risk and asset management firm BlackRock laid off around 40 employees earlier this year, including portfolio managers and stock managers.
Our time frame was the next 5-10 years, and the relative risk of automation was based on factors including tasks involved, current commercial deployment of technology, patent activity, investment activity, technological challenges, and regulations.
Specifically, we looked at over 25 million jobs across 7 industries: In addition to the jobs listed above, we take a look at the impact of automation on white collar jobs in later sections.
Fast food chains like McDonalds are following suit to maximize profits and cut costs: this year, McDonalds announced that it would replace cashiers with kiosks in 2,500 locations.
As more people shop for products online, there is greater pressure on order fulfillment centers to ship items on time. Currently, “cooperative robots” work in collaboration with humans, although this would mean employers need fewer hands on deck.
With name brand retail chains like Macy’s, Bebe, and Limited closing thousands of stores across the country, and rising competition from Amazon, retail salespersons are at a more immediate risk of job displacement from the rise of e-commerce than from in-store robots.
The use cases are still being understood… right now most retailers are trying to focus on their e-commerce integration with stores.” – Bill Lewis, consumer products EVP, Capegemini Even though technologies like AI-based in-store advertising and self-checkout lines automate some aspects of a salesperson’s job, retail salespeople face a much more immediate risk of job loss due to the shift towards online shopping rather than the impact from in-store automation.
The new e-commerce “stack” is built around an AI core, from product recommendations to customer management and merchandising, leaving less room for job transfer from retail to e-commerce sales.
In an effort to drive foot traffic and assist employees, however, some retail stores are turning to robots, testing the technology for inventory management and customer interactions.
The high stakes in healthcare, unpredictable work environments, and the degree of emotional intelligence required combine to make the job of nurses and healthcare aides hard to automate.
Although research institutions in countries like Japan, which is home to a large elderly population, are focusing their R&D efforts on robots that can perform tasks like lifting and moving chronically ill patients, most startups are focused on support tasks like hospital logistics and virtual assistance.
While startups like babylon assess a patient’s level of risk based on the response, others like Sense.ly integrate with biosensors and IoT devices to regularly monitor vitals.
Another area of focus for startups is support services like transportation and inter-hospital logistics, freeing up time for healthcare professionals by moving items for one room to another.
Apart from strengthening its foothold in the United States, ST Kinetics plans to expand its Asia Pacific footprint through the acquisition. “Even putting aside the direct safety risks, truck driving is a grueling job that young people don’t really want to do.
The average age of a commercial driver is 55 and rising every year, with projected driver shortages that will create yet more incentive to adopt driverless technology in the years to come .” – Ryan Petersen, CEO of Flexport, LinkedIn Pulse Fully autonomous vehicles are still in early stages of R&D.
Although big tech companies and major auto giants like Apple, Baidu, Daimler, Ford, and Tesla are investing heavily in autonomous vehicle research, driverless trucks are still in early stages of testing, and on the whole the autonomous driving startup ecosystem is still in its early stages.
Although highway driving is considered easier to automate than in-city driving, initial/final legs in more congested areas will be more challenging, requiring a human driver.
In addition to regulatory uncertainties, uncertain weather conditions and sharing the road with unpredictable human drivers are other challenges for fully autonomous cars/trucks.
As shortage of construction laborers continues across the United States, some companies, like Blueprint Robotics, are focusing on assembly-line manufacturing solutions. The prefab housing sector has also seen some private market deals recently.
Rising interest in inspection drones (over 40 deals went to inspection drone starups in 2016, compared to less than 25 the previous year) across industries for field survey and mapping functions has affected construction as well.
Construction and mining equipment manufacturer Caterpillar had invested in California-based Airware, which focuses on commercial drones and also is backed by investors like Intel Capital and Andreessen Horowitz. Airware’s solutions for the construction industry include topographic surveying, detecting breaklines, and computing stockpile volumes.
Startups developing what we call expertise automation and augmentation software (EaaS) will replace entry-level white collar jobs in areas like law (automatic document analysis and auditing), media (AI-based news curation and summaries), and even software development (early development phase and debugging).
On the litigation side, natural language processing (text analytics) can summarize thousands of pages of legal documents within minutes — a task that might take a human counterpart several days to complete — while reducing the probability of error.
By automating the human advisor, robo-advisor startups have lower overhead, and in turn, have waged an industry pricing war by lowering fees and in some cases even eliminating them.
Robo-advisors use a combination of algorithms to make risk-adjusted portfolio allocations and machine learning to learn from investor’s behavior to automatically tailor the portfolio when it swings outside of the prescribed recommendations.
This year, Wealthfront launched a fully-automated financial planning service called Path, and a portfolio line of credit that streamlines the traditional bank loan process.
If robo-advisors continue to invest in building out their technology, by applying machine learning, the algorithm could learn to automatically adjust to a customer’s risk management thresholds throughout each life phase.
One of the top rounds this year went to UK-based DiffBlue, which is developing AI to automate traditional coding tasks like bug fixing, custom code development, and translating code from one programming language to another.
“A few years ago, Peter Lee, a vice president inside Microsoft Research, said that the cost of acquiring a top AI researcher was comparable to the cost of signing a quarterback in the NFL.” – Wired Obviously if current trends are any indication, AI talent will continue to be in high demand.
But with AI software now beginning to automate even white-collar jobs, it remains to be seen how many new jobs will be created, what they will be, and whether those who lose positions due to automation will be able to fill these new roles.
Artificial intelligence will wipe out half the banking jobs in a decade, experts say
Advances in artificial intelligence and automation could replace as many as half the nation’s financial services workers over the next decade, industry experts say, but it’s going to take a big investment to make that happen.
“Unless banks deal with the performance issues that AI will cause for ultra-large databases, they will not be able to take the money gained by eliminating positions and spend it on the new services and products they will need in order to stay competitive,” he said.
But technical issues aside, senior banking executives increasingly agree on the inevitability of artificial intelligence-based services — and the job losses they will create.
D’Arezzo, whose company works to improve existing software performance, said the financial industry is being swamped by “a tsunami of data,” including new compliance requirements for customer privacy and constantly changing bank regulations.
“On the service side of AI, you can get right down to the irate customer who wants to know about a deposit, although you’ll still have to get a person involved to handle that if it gets more complex,” he said.
“But we’ll shave off that top percentage — 10 to 20 percent of the mechanical and rote issues that come up.” Potential uses for AI technology include automated customer support, fraud detection, claims management, insurance management, automated virtual financial assistants, predictive analysis in financial services and wealth management services offered to lower-net-worth customers.
10 Ways Artificial Intelligence Will Change Recruitment Practices
According toUndercover Recruiter, artificial intelligence (AI) is expected to replace 16% of HR jobs within the next 10 years.
Allowing AI to assist you in the recruiting process can give you the time to focus more on hiring the right person for the job versus the tasks necessary to make it happen.
Skills To Engage With Recruitment Platforms One way that AI will revolutionize candidate search is in the context of the skills that job seekers will need to acquire on the front end just to apply and engage with intelligent recruitment platforms.
AI recruiting video interview platforms, for example, use biometric and psychometric analysis to evaluate not only the quality of candidate answers but also voice quality, pace of speech, voice energy, use of fillers, facial micro-expressions and body language.
Improved Online Applications Applicant tracking systems (recruiter databases) use keywords, word flows, and other data points to analyze and prioritize the thousands of resumes they receive online for each posted position.
As employers use increasingly complex technology to this end, expect firms to monetize these same tools by repurposing them for job hunters, enabling more effective applications through predictive analytics.
1 source of hire till data proves otherwise, but AI will be capable of collecting sufficient data from hundreds of thousands of candidates to identify the ideal fit (including most likely to accept an offer) and reach out in a personalized way to start an interview process.
As automation advances, and highly relevant analytics are leveraged, employers and candidates will increasingly focus on what matters most, a mutually great fit.
10 jobs that A.I. and chatbots are poised to eventually replace
If you’re a web designer, you’ve been warned.
Recent progress with artificial intelligence, however, has put a shocking amount of professional, salaried careers on the chopping block.
The BBC even predicted that nearly half of the most commonly held careers are above a 50 percent risk of automation before 2035.
behind The Grid will take designing, coding, re-designing, and re-coding (not to mention the re-re-designing) out of the hands of both web designers and web developers.
It generates pitches for advertising campaigns and personalized messages to target individual clients and move them to action.
Betty is an intelligent bot currently on trial as office manager in England, but it appears to be highly functional and effective.
map of the office, meaning she not only knows how to navigate the place independently, but also knows when someone has snatched a stapler from a coworker’s desk.
While the hiring process can be tedious and exhausting, the artificial intelligence in FlatPi will sift through and rank candidates in seconds.
(FirstJob also recently released a chatbot named Mya that directly interacts with candidates, letting them know if their application is under review or just not going to cut it.) Tech that will replace it: Wordsmith Breaking News: Your creativity is no longer needed!
Wordsmith can read through large amounts of data, pick out what’s interesting, and then spin a concise, effective report.
Bold’s artificially intelligent assistants suggest revisions as you write to improve sentence structure, clarity, word choice, and more.
- On Monday, December 9, 2019
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