Hacking the economy to prosper in the coming age of AI

By | March 25, 2020

The breakthrough of the economy to prosperity in the next era of artificial intelligence .. In the past six decades, we promised the arrival of imminent robots that will wash our clothes perfectly, machines that can translate languages automatically with a major revolution and luxury flying cars that would set us apart, as in the animation show The famous American, The Jetsons.

But the task of building synthetic cognitive abilities was not trivial. It took decades for the AI process to mature, and these past visions of a potential future are just science fiction texts written by optimistic, perhaps very promising, youngsters. But things are changing now.

In its third advent, AI has finally emerged from the long winters of AI in the past when technology has become a curse for investors and business decision-makers.

With the successes of self-driving Waymo cars, Amazon Alexa’s personal assistant, SparkCognition AI predictive maintenance and somewhat frightening facial recognition technology, we now know that AI is no longer an impossible aspiration.

In the words of President Putin, it has been transformed into a tool by which to “rule the world”.
What a reflection of the fortunes that have proven useful for AI researchers! One just needs to check out an existing newspaper to be completely immersed in the stories of the latest AI developments.

China and France are launching national AI policies to gain the upper hand in technology development. The United Arab Emirates has just announced the appointment of the world’s first Minister of Artificial Intelligence, Sheikh Omar bin Sultan Al-Ulama.

Even in the United States, the hometown of artificial intelligence and the world’s leading artificial intelligence power, countless efforts are being made to determine the best way to win what has been widely described as the “AI race”.
My own work with the U.S. Army and think tanks such as the US Capital-Based New Security Center (CNAS), and in founding and managing one of America’s fastest growing AI companies, SparkCognition, have made clear that there is a lot to really prepare for our societies, our armies, and ourselves, but Above all, there is the economy.

The confluence of artificial intelligence and robotics will surely have an indelible impact on today’s jobs.

We have enabled human muscles for centuries, and when we pair them with an artificial mind, almost every form of economic action can be automated. While the impact of AI in the near term is generally expected to be modest, it is in the medium term that we have to prepare for.

PriceWaterhouse estimates that two per cent of UK jobs will be affected by early 2020. But this effect will accumulate very quickly. By mid-2030, the same report estimates that up to 30 per cent of UK jobs will be automated.

What types of jobs will go in the way of machines? White or blue collar? Low wages or high wages? The fact is that the impact of artificial intelligence will be felt across the board.

In a study of average compensation across different British jobs, The Independent ranked a variety of jobs based on its average weekly earnings. The pilots and aircraft engineers, who earn an average of £ 1,800, were on the top of the list, with executives taking second place (£ 1,580.70).

Meanwhile call center workers (£ 326), butlers (£ 309), waiter (£ 266) and nursery nurses (£ 295) were among the lowest paid. If we analyze the capabilities of artificial intelligence and current robots and extrapolate future developments even in conservative ways, there is no doubt that much of what a plane pilot can do can be automated.

This may not mean that we will have civilian drones within a few years, but it will mean the need for fewer pilots for more flights. With the rapid advancement in text-to-speech, natural language processing, automated process automation (RPA) and voice recognition applications, call center workers already have a lot of concerns.

And perhaps with self-driving cars, maids will see their numbers dwindle too.
However, two-function functions are flexible even in the face of automation.
First, jobs that require a “human touch”.

These are care jobs like the nursery nurse mentioned above. Ultimately, we humans perceive the world through a series of subjective experiences. In certain contexts, we want to feel the warmth of human contact. It makes us feel “better”. The jobs that primarily deliver this type of value go beyond the capabilities of machines in the foreseeable future.

Second, the jobs that we agree upon as a community have value simply because humans have done them. For example, a robot that produces a soft brush can produce an oil painting of a scene in an almost realistic way.

One can argue that no one will be able to capture it with such precision or detail. Indeed, while marveling at the beauty captured by Rembrandt


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