The artificial intelligence boom is here, and it’s changing the way we do business. What exactly is artificial intelligence? It’s the ability of computers to learn and mimic human behavior. Artificial intelligence (AI for short) allows machines to recognize objects by sight, hear and understand voice commands, and even make complex decisions like a human being would.
The possibilities for artificial intelligence are endless. If machines become smart enough, they could take over thousands of jobs that currently require humans. Experts predict that sometime around the year 2025, robots could take over up to one third of today’s jobs. While this could be bad for some workers, it will help companies reduce costs. Those savings could be passed on to consumers.
There are three industries where artificial intelligence will have the biggest impact and the jobs that will be lost:
We all know that a lot of money goes to waste in the current healthcare system. Patients undergo unnecessary tests or shell out too much money to visit specialists. Artificial intelligence has the potential to save consumers hundreds each year in healthcare costs. Robots are already being used to help diagnose diseases and sift through data to help doctors make smarter choices. Artificial intelligence can already make diagnoses more accurately than doctors in some cases.
The self-driving car has been in the works for a while, but it’s closer than ever to becoming a reality. Several companies are already testing self-driving cars, and you can expect to see them on the market in the next year or two.
Artificial intelligence will also change the way companies ship items. By using drones to deliver items directly to consumers, companies can cut costs and reduce shipping times.
Artificial intelligence is already taking over the world of manufacturing. In today’s factories, you might find more robots than actual human workers. This allows companies to keep costs down and makes manufacturing quicker and easier. About 9.1 million jobs will transition from humans to robots in the next few years.
In fact, a large number of white-collar jobs will be replaced. These include:
- 8 million jobs in office and administrative support jobs
- About 14 million positions in management and business operations
- 8 million motor vehicle operators because of self-driving cars
- 5 material moving workers because of automated warehouses
- Sales will cut about 14.5 jobs – 8.8 million of these workers are in retail and 3.5 of these people happen to be cashiers.
- 4 million sales reps will lose their jobs
- In the food preparation area, 12.6 employees will lose their jobs – where 7.1 million are servers and 3.7 counter workers
- In the cleaning/maintenance arena, 4.4 million jobs will be lost to robots especially in corporate settings
- TV and cable installation workers will easily be replaced not only by robots, but automated systems that will connect these services to homes and commercial business.
Also, due to artificial intelligence be adapted into Virtual Reality (VR), travel for high ranking executives will decrease since VR will allow employees around the world to be in the same room simply by wearing a pair of goggles. This change will inevitably hit the travel, hotel and tourism industries in general.
So, let’s keep an eye out for more developments in artificial intelligence in the coming years. Re-invent yourself so you do not lose your job to a robot and can keep a steady income.
Did you miss my CNN en Español interview about drones and how they will affect our personal finances? Watch it HERE.