We analyzed which jobs are most -- and least -- at risk, given factors including tasks involved, the current commercial deployment of technology, patent activity, regulations, and more. Meanwhile, several big corporations have open sourced their AI software libraries in recent years -- another major accelerant for AI. Our time frame was the next 5-10 years, and the relative risk of automation was based on factors including tasks involved, current commercial deployment of technology, patent activity, investment activity, technological challenges, and regulations. Google Ventures and Khosla Ventures recently funded burger-flipping robot Mometum Machines (funding and patents below).
Automation is coming after jobs, from fast food workers to accountants. We analyzed which jobs are most -- and least -- at risk, given factors including tasks involved, the current commercial deployment of technology, patent activity, regulations, and more. The shift from traditional manufacturing to computer-enabled industry took nearly a century. But the shift from personal computing to billions of smartphones, massive networks, and the IoT has taken just a couple of decades. And the next phase of technological evolution is already underway: advanced neural networks that learn, adapt, and respond to situations. With AI and automation advancing at a breakneck pace, society's capacity to respond is being stretched to the limit. Cities are seeing front-end automated restaurants like Eatsa gaining popularity, while in factories automation has already arguably been a part of life for years (if not decades) in the form of heavy industrial and agricultural robots. Analyzing the automation landscape, we found that 10 million service and warehouse jobs are at high risk of displacement within the next 5 – 10 years in the US alone. Meanwhile, nearly 5 million retail workers are at a medium risk of automation within 10 years. To put these numbers into perspective, estimates are that over a few years the Great Recession of 2007 – 2010 destroyed 8.7 million jobs in the US.
Capital markets technology investments continue to break records and are projected to reach new highs in 2017. Q1'17 tied the quarterly record for deals with 66 deals worth $394M. At the current run-rate, 2017 is projected to hit a new deals and dollars high of 274 deals worth approximately $2.45B in funding. Since the financial crisis of 2008/2009, global capital markets have seen considerable change. Economic pressure, increasing regulatory scrutiny, and evolving client needs are a few of the conditions that have made capital markets ripe for disruption.
As more insurers including Aviva, XL Catlin, and Guardian Life launch investment arms, tech startup dealmaking by insurance firms is on pace for a record high in 2016, according to CB Insights data. In the first three months of 2016, insurers completed nearly 20 deals. The same set of insurers completed just 8 deals over the same period last year. Interestingly, while insurers previously shied away from tech startups working directly in the insurance value chain, 2016 has seen several strategic investments by carriers into insurance tech startups. These deals include XL Innovate's investment in Slice Labs, a startup aiming to provide on-demand coverage for ride-sharing drivers and home-sharing owners; Intact's investment in per-mile insurance provider Metromile; and MassMutual Ventures, Transamerica Ventures, and AXA Strategic Ventures' investment into insurance-comparison portal PolicyGenius.
The most promising 150 private digital health startups working to transform the healthcare industry with new models of primary care to emerging tech solutions for providers. CB Insights' first ever annual cohort of Digital Health 150 startups is a list of 150 of the most promising private companies creating innovative products and services in the $5T healthcare industry, according to CB Insights' Industry Analyst Consensus. Our research team selected the 150 startups from a pool of 5K companies based on several factors, including patent activity, investor profile, news sentiment analysis, proprietary Mosaic scores, market potential, partnerships, competitive landscape, team strength, and tech novelty. For the purposes of this report, digital health is defined as companies in the healthcare space that use technology/software as a key differentiator from their competition. This includes everything from disease diagnostics to tech-driven health insurance platforms to AI tools for drug discovery, and more.