Advances in Artificial Intelligence (AI) and Automation will transform our world. The current debate centers not on whether these changes will take place but on how, when, and where the impact of artificial intelligence will hit hardest. In this post, I'll be exploring both optimistic and pessimistic views of artificial intelligence, automation, job loss, and the future. Questions around the impact of artificial intelligence and automation are critical for us to consider. While technology isn't inherently good or evil, in the hands of humans, technology has a great capacity for both.
The advent of automation has eliminated paperwork as well as the monotonous workflow resulting in repetitive tasks, thereby minimizing human-borne errors. Moreover, companies can align processes and methodologies in finance, with other functional areas to sustain a comprehensive enterprise system. The modern means of invoice automation and data capture rely on deep learning models that are trained to perform tasks repetitive in nature. The intelligent systems are also trained to understand order management and vendor payment scenarios to detect fallacies or redundancies in the invoice automation system.
They call it the "lights out factory." A manufacturing complex run by the Japanese company FANUC, it spans 22 facilities producing 23,000 computer parts each month for companies like Tesla and Apple. The plant runs close to 24 hours a day, every day of the year. Bill de Blasio is the mayor of New York City and a candidate for the 2020 Democratic presidential nomination. The complex seems to run so smoothly, it might take a moment to realize that something's missing: human workers.
Automation replaced 17,000 people's jobs at one of the world's largest professional services and tech firms Accenture over the last 18 months, but no one actually lost their job. Richard Lumb, CEO of financial services at Accenture told Business Insider at the World Economic Forum on Wednesday that while greater automation and the rapid development and implementation of artificial intelligence and robots certainly can eliminate jobs in the workforce, companies can also make sure those employees do not become displaced. "Over the last 18 months, automation replaced 17,000 jobs in back office processing. But actually, we haven't laid those people off. We are fortunate enough to reskill and reposition them.
Making sense of the mountains of data collected on a daily basis requires specialized data science skills that are hard to come by, and hard to keep. Augmented or even eliminated some of these specialized tasks with machine learning. Making sense of the mountains of data collected on a daily basis requires specialized data science skills that are hard to come by, and hard to keep. But what if some of these specialized tasks could be augmented or even eliminated by machine learning? DataRobot customers are enjoying these game changing benefits and more, right now.