Artificial Intelligence (AI) is the transformative technology for this decade. With 36 million unemployed in US today, can AI also create jobs?
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Artificial Intelligence (AI) is the transformative technology for this decade. With 36 million unemployed in US today, can AI also create jobs? The World Economic Forum in 2020 forecasted a strong increase in AI jobs globally over the next 2 years, with new jobs per 10,000 opportunities increasing from 78 today to 123 in 2022. World Economic Forum published research in Jan 2020, shows jobs in AI almost double by 2022.
AI started with machines being programmed to give specific responses for certain questions. Siri could pull the weather report upon request. Machine learning is the new approach where the software is given large volumes of data and the software will begin to identify certain patterns. After seeing millions of images of cat and non-cats, the software will be able to identify a cat image or even design a cat image.
If machines can learn new skills, the applications for AI are endless. Today, in a kiosk in San Francisco a robot with AI can take a customer’s coffee order and pour a cup of coffee at exactly the temperature and mixings requested. Applying AI for automation is beneficial by reducing expenses, accelerating processes, and increasing precision. The downside is that as AI automates processes, these robots are replacing humans.
There are many applications of AI that create jobs. The obvious direct jobs are in AI technology development and research. Here are some other examples.
Glenn Gow, Partner at Clear Ventures and board member of several AI startups, sees opportunities for AI in finance. “AI has enabled large pieces of the audit process to be automated, but it hasn’t reduced the number of people involved in the audit process. In fact, if done well, AI can help finance professionals find patterns in the data they would otherwise not see identifying questionable transactions, and due to it’s strength in predictive analytics, create better forecasting models.”
This could create additional jobs for auditors who can analyze more data more quickly; then the auditors could focus on helping the company improve processes. This would mean more high value-added consultant auditor positions.
Betsy Beaumon, CEO of Benetech, a technology nonprofit, notes they are using AI to support human rights efforts in Syria: “Human rights investigators have more evidence at their fingertips than ever before, and artificial intelligence supercharges what they are able to do with that data. Coming out of the conflict in Syria, we saw millions of videos uploaded to YouTube and social media that documented the atrocities taking place. Benetech is using artificial intelligence to help investigators sort through and analyze this massive amount of data in order to bring perpetrators to justice. Using computer vision, our JusticeAI platform assigns each video a fingerprint that links it to other videos that are similar. This not only significantly reduces the time spent on reviewing evidence, but also enables investigators to build stronger cases using the best evidence available, and chart a path to justice.”[…]
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