This week, Stanford HAI released its 2021 AI Index. The index is an independent program developed by an interdisciplinary team at HAI in partnership with academia, industry, and government. It takes a comprehensive look at AI's impact and progress each year, analyzing and distilling patterns about AI's impact on everything from national economies to job growth, diversity, and research. Dig into the report to learn in-depth what happened to the industry this past year, or scroll through some of the highlights here.
Marking a significant shift in India's digital journey, the Union Finance Minister, Nirmala Sitharaman, has presented the first-ever digital budget for the upcoming fiscal year starting April 2021. Her budget speech touched upon "proliferation of technologies, especially analytics, machine learning, robotics, bioinformatics, and artificial intelligence." The budget has come at a time when the country is still struggling with the massive economic slowdown precipitated by COVID pandemic. However, despite this downturn, businesses have seen a significant push towards digitisation, including acknowledging the importance of artificial intelligence across industries. As a matter of fact, India is considered one of the fastest-growing digital markets globally.
California's high poverty rate, low wages and frayed public safety net require a new "social compact" between workers, business and government, according to a report by a blue-ribbon commission that highlights the state's widening inequality. In a report released Monday, the Future of Work Commission, a 21-member body appointed by Gov. Gavin Newsom in August 2019, laid out a grim picture of the challenges facing the world's fifth-largest economy, even as it acknowledged the Golden State's technology leadership, its ethnically and culturally diverse workforce and world-class universities. "Too many Californians have not fully participated in or enjoyed the benefits of the state's broader economic success and the extraordinary wealth generated here, especially workers of color who are disproportionately represented in low-wage industries," the report says. California has the highest poverty rate in the country when accounting for the cost of living, 17.2%, according to the report. Since 2012, wages in the state grew by 14% while home prices increased by 68%.
Emails changed the way financial services and law firms used to do business years ago. Now, artificial intelligence is creating a new revolution in the way how law firms and financial institutions work. It is helping to speed up the business process, provide prompt customer service, boost productivity, reduce the workload on human minds, and minimize mistakes. Today, we will discuss how artificial intelligence is helping law firms and financial institutions to boost productivity, reduce expenses, and provide better services to their clients. Artificial intelligence is gradually becoming an indispensable virtual assistant for the lawyers.
Much has been made of the potential for people to lose their jobs to machines but, according to a senior tech executive, it's all about having employees use artificial intelligence themselves. "AI is not going to replace managers but managers that use AI will replace those that do not," Rob Thomas, senior vice president of IBM's cloud and data platform, told CNBC's "Squawk Box Europe" on Monday. "This really is about giving our employees, our executives, superpowers … One of the biggest things we saw take off with the pandemic was virtual assistants, so how do you care for employees, how do you care for customers in a distributed world and that's why we've seen hundreds of different organizations going live with things like Watson Assistant," Thomas added, referring to the company's AI customer service software. Technology is set to have a significant effect on employees. Machines and automation are set to eliminate 85 million jobs by 2025, according to the World Economic Forum's Future of Jobs Report 2020, published in October, although overall WEF expects 97 million new jobs to be created.
More than outright destroying jobs, automation is changing employment in ways that will weigh on workers. The big picture: Right now, we should be less worried about robots taking human jobs than people in low-skilled positions being forced to work like robots. What's happening: In a report released late last week about the post-COVID-19 labor force, McKinsey predicted 45 million U.S. workers would be displaced by automation by the end of the decade, up from 37 million projected before the pandemic. Yes, but: McKinsey notes that despite the displacements, the total number of jobs is projected to increase. The catch: McKinsey finds that while the total number of jobs will increase, "nearly all net job growth over the next decade is projected to be in high-wage occupations" -- which is not good news for workers with low job skills.
Artificial Intelligence (AI) is playing an increasingly dominant role in the lives of people around the world. As yet, however, it is subject to remarkably little governance, let alone global governance. There is a strong case for the establishment of a UN regime on Artificial Intelligence. Such a regime should include a supervisory body that can provide a democratic input. Artificial Intelligence has immense value to offer to humanity, such as improved efficiency, new capabilities, and solutions for complex problems.
MILAN – Perhaps no single aspect of the digital revolution has received more attention than the effect of automaton on jobs, work, employment, and incomes. There is at least one very good reason for that – but it is probably not the one most people would cite. Former US President Donald Trump is not Hitler, and America is not the Weimar Republic. But, as four excellent recent books about the interwar years show, false narratives and craven political choices can have dreadful consequences that may not emerge immediately. Using machines to augment productivity is nothing new.
Gauging through Scope: Global Artificial Intelligence in IoT Market, 2020-26 A new report defining the global Artificial Intelligence in IoT market offers readers with vivid details on current and most recent industry developments along with futuristic predictions that allow players to recognize exact vendor initiatives, end-user preferences and purchase decisions along with profitability. The report delivers pertinent details on strategic planning and tactical business decisions that influence and stabilize growth prognosis in global Artificial Intelligence in IoT market. The report in its opening section introduces the global Artificial Intelligence in IoT market, featuring market definitions, overview, classification, segmentation, inclusive of market type and applications followed by product specifications, manufacturing initiatives,pricing structures, raw material sourcing and the like. Following this, the report also focuses and analyzes the main regional market conditions followed by a global assessment. Vendor Landscape The report draws references of an extensive analysis of the Artificial Intelligence in IoT market, entailing crucial details about key market players, complete with a broad overview of expansion probability and expansion strategies.
From March 1 to April 4, 2020, the Illinois Department of Employment Security received 513,173 unemployment claims -- more than the entire number of claims filed in 2019. It was impossible for IDES employees to handle this volume, resulting in many disconnected phone calls and unanswered online queries. Gov. J.B. Pritzker called for increased call center capacity, in large part through the implementation of new technologies to help employees handle the volume of queries. Gov. Pritzker wanted to minimize dropped calls and deliver a response to all online queries so citizens could receive the benefits they needed. This new technology, virtual intelligent agents, alleviated overburdened human agents from having to respond to every inquiry that came in.