While my first love is cryptocurrencies, I’m fascinated … and interested by advances in all areas of technology and, from correspondence with our readers, many of you feel the same. So I thought we would include a weekly piece, not cryptocurrency related but general technology – just for some variety. Sometimes we’ll cover specific technology advances that have been announced, new products and sometimes, like this week, an overview of changes in the technology landscape.
So the first article is written by John.W. and cover the area of AI and how it may impact our working lives – I hope you find it as enjoyable as I did. — Sean —
The Advent of Automation
The purpose of technological advancement and human innovation has always been to create convenience and facility in our lives and make it much simpler and easier for all. Automation is one of the factors that are becoming increasingly integrated into our society and have already produced a magnitude of convenience for many individuals. Whether it be artificial intelligence, robots, or even virtual personal assistants, automation is gradually but surely becoming an integral part of our routine lives and it is expected that soon enough it will become impossible to live without it.
Robots Replacing Humans
Everyday, advancements are made in AI technology and we become ever closer to creating robots that are just as sentient and able to form new, coherent thoughts as us. And while this prospect is indeed quite exciting, what exactly does that mean for the majority portion of the human world that is involved in the working sector? Analysts fear that the results of improving artificial intelligence might not be as pleasant for working individuals. Due to the ability of robots to learn and evolve with machine learning and new and improved algorithms, they might be on their way to taking over a number of jobs that currently humans are responsible for. Around a third of the total jobs in the United States are said to be under threat by the advent of artificial intelligence.
Which Jobs Will be Taken Over First By Artificial Intelligence?
According to the researchers up at Oxford University, around 47% of the total jobs in the United States will have been taken over by automated robots in the next two decades. In fact, we may even see robots taking over entire fields and professions as they become more sentient and capable and the need for human involvement becomes nil. So what exactly are these high risk jobs that are more than likely to be completely taken over by artificial intelligence in the very near future? Let’s take a look:
Truck Driving: Artificial intelligence is already being seen taking over driving jobs with self driving vehicles and service cars already making an entrance for public use. According to ceratin analyts, truck driving will probably be the first form of driving which will have been completely automated, not requiring human drivers anymore. Since most of these trucks and rigs traverse on highways, they do not require elaborate navigation and maneuvering, thus making the entrance of AI in this field an easy one.
Salesmanship: According to a report from investment advisory firm Cornerstone Capital Group, there is a great chance that a rough estimate of around 6 to 7 million jobs in the retail industry will be pushed to the brink of nonexistence due to increasing automation. In fact, a calculator predicts that more than 97% of all cashier jobs will be taken over by artificial intelligence and smart bots. Salesmanship requires such skills from humans which can be replicated by a bot with ease minus a plethora of extra costs and investment that goes into hiring an individual. This makes the idea of artificially intelligent retailers and salespeople an inviting one for some and threatening for others.
Accounts and Finances: Accounting and finances are two major fields where young individuals look to be employed for stable jobs but these are soon to be overtaken by bots that thrive off of machine learning and can perform the same tasks a human does but with much greater efficiency and speed. In fact, Robo accounting has already begun to find its feet in the field and is expected to only grow farther from here.
Reports and Journalism: Writing simple reports and creating fact or research based content can easily be done through machines by inserting data in them and using algorithms that allow them to read and analyze it. It is expected that more than 11% of reporter jobs will most likely have been automated in the next decade or so due to this growing trend.
While this may seem like a scary prospect- or maybe an exciting one for you- some analysts believe that we are a long way from this to actually come to fruition. At this point in time, robot have not been developed enough to be as capable as humans and even if they have, they are too little, too expensive, and too risky a choice to be heavily invested in. So we can breathe a sigh of relief- at least for now!