Artificial Intelligence is about replacing human decision making with more sophisticated technologies.Falguni Desai
Are your children future-ready by just learning to code? Fortune magazine advises that by 2030 simply learning to code will not be enough to secure employment. It is in the interest of your children to learn and develop skills in artificial intelligence and machine learning, for that is the future. According to the article, it is projected that artificial intelligence will “wipe out 29% of all U.S. jobs while creating the equivalent of only 13%”
Jobs artificial intelligence will replace by 2030:
1. Loan Processors
Retail banks such as HDFC Bank Ltd have automated the credit approval process for loans less than 5 lakhs. The bank can now process between eight to ten thousand loan requests in the span of eight hours. Customers are also able to track the status of their loans within hours of applying. The loan approval process consists of artificial intelligence led-Statistical Analysis Systems (SAS) employed by the bank. It uses parameters like application score and propensity to default. Earlier, this process used to take 24 hours by a loan approver to complete.
Chatbots are rapidly replacing telemarketers as sales assistants. In today’s information society, people are making informed decisions of the brands and products they wish to be associated with, including how they wish to interact with them. Since the Internet of Things, information is available on the go and virtually everywhere. Thus, telemarketers are increasingly becoming an expensive resource for companies to employ. This is the case, especially as chatbots and apps are revolutionising the shopping experience. Amazon is the poster child for using artificial intelligence to generate sales by suggesting similar products based on purchase and browsing history.
3. Bookkeeping Clerks
Bookkeeping has been automated through cloud-based platforms like Botkeeper, QuickBooks, FreshBooks and Microsoft Office. Although the data entry aspect of the job is automated, there is scope for the accountant to apply their expertise. For example, the interpretation of reports and ratios generated and presented by the software need to be looked over.
Artificial intelligence has now evolved to incorporate face recognition, voice recognition and movement in designated spaces. In addition to improving security in employed spaces, it also automates the scheduling of appointments. Thus, making the role of the receptionist redundant.
5. Proof Readers
Apps like Grammarly and Hemingway have transformed the creative process for most writers and editors. This is done through the correction of sentence structures and grammar through prompts.
6. Marketing Research Analysts
Automated platforms like Growthbot can analyse market opportunities as well as do competitor analysis of businesses. Artificial intelligence is able to form and process models and put them to the test. Hence, reducing the dependency on Marketing Research Analysts.
7. Retail Salespeople
Self-checkout stores are fairly common in Europe and the US. It’s only a matter of time before they are adopted by India.
8. Truck drivers
Driverless trains are a reality and the same is soon going to be applied to the trucking industry. According to Truckinginfo, artificial intelligence is likely to aid truck drivers instead of replacing them in the short term. In the longer term, there might be scope for truck drivers to be made redundant. In addition, it has also led to “the creation of thousands of new jobs in areas such as engineering, data analysis, cybersecurity, and vehicle “monitoring.”
9. Waiters and Waitresses
In Japan, one can visit Automat, a no staff restaurant served by vending machines. Click here to read more. Eatsa, a vegetarian food chain in the US, is also set to revolutionise the modern eating experience. Bengaluru can see it’s own ‘Robot Restaurants‘ coming soon, after its success in Chennai and Coimbatore, where customers can order their food through tablets and be served their meals by robots.
10. Brokerage Clerks
Internet banking has become the norm in the 21st Century with most transactions being automated. Brokerage Clerks are yet another role which ceases to exist, however, financial advisors are still the need of the hour.
11. Data Entry
With machine learning computers are mimicking the way data is created at lightning speed and with cloud computing, the pace is boundless.
12. Chefs and catering staff
Japan and the US are automating cooking at restaurants, according to this Financial Times article
13. Authors and writers
Although, the prospects of this is much debated. It is possible, that artificial intelligence could replicate creativity if the correct parameters are set. However, the extent to which this is possible can only be seen with time.
14. Arts, Entertainment and Recreation
The Circus Roncalli in Germany puts an end to animal cruelty by displaying seven-dimensional holograms of animals.
BusinessNewsDaily projects artificial intelligence in the use of healthcare to reach $6.6 bn by 2021. Currently, major artificial intelligence applications in healthcare include diagnostics, robotic surgeries and virtual nursing assistants.
16. Teaching assistants
Although, the education sector is the least at risk of being automated. One cannot erase the possibility of artificial intelligence transforming the way students interact and learn with robots. Increasingly, artificial intelligence is playing the role of scheduling lessons, checking answers as well as monitoring and predicting student performance. Thus, teachers will be increasingly responsible for nurturing students and providing them with emotional support.
“Artificial intelligence is going to help radiologists, pathologists, all the other folks who use medical imaging to be both more efficient and more effective” predicts Jeremy Howard, founder and researcher at fast.ai.
Predictions of artificial intelligence for the next decade
By 2030, artificial intelligence to varying degrees will be implemented across all industries and hence, affecting almost all job roles. However, those equipped with an understanding of artificial intelligence will have transferrable skills applicable to any role of their choice. Hence, artificial intelligence is the way forward to being irreplaceable in the next decade.
This article addresses only the tip of the iceberg with the current knowledge we have of artificial intelligence. As we proceed to use and discover the limitations and applications of artificial intelligence, it is set to open a whole plethora of opportunities. If you wish to be transported to the future, read Graham Templeton’s vision of the future with artificial intelligence here.
Computers will overtake humans with AI within the next 100 years. When that happens, we need to make sure the computers have goals aligned with ours.Stephen Hawking
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