IBM's Chair, CEO and President Ginni Rometty has a powerful message for workers and employers in all strata of society: The Fourth Industrial Revolution is underway and it is shaping up to be one of the most significant challenges and opportunities of our lifetime. We are already seeing jobs, policies, industries and entire economies shifting as our digital and physical worlds merge. According to the World Economic Forum, the value of digital transformations in the Fourth Industrial Revolution is estimated at $100 trillion in the next 10 years alone, across all sectors, industries and geographies. "As a result, we face an imminent and profound transformation of the workforce over the next five to 10 years as analytics and artificial intelligence change job roles at companies in all industries," Rometty said while giving a keynote address at the CNBC's At Work Talent & HR: Building the Workforce of the Future Conference in New York on Tuesday, April 2. In February, the executive was appointed to Trump's American Workforce Policy Advisory Board along with 24 other leaders. While only a minority of jobs will disappear, the majority of roles that remain will require people to work with the aid of analytics and some form of AI and this will require skills training on a large scale, Rometty said.
Pymetrics is a New York-based AI hiring-platform, that allows companies to hire more diverse candidates. The company boasts clients of very large sizes, such as Unilever, Accenture, Tesla, and LinkedIn. And now, they were just named'Technology Pioneers' by the World Economic Forum (WEF). Pymetrics' hiring platform allows job applicants to assess games and tasks. But here's where it gets cool: Depending on their performance, the AI-powered platform can calculate whether the candidate is a good match for the job.
When Mr. Dudley took the helm in 2009, the financial crisis had left the New York Fed's reputation as a regulator damaged. The institution had not done enough to address the severe weaknesses at the banks it oversaw, like Citigroup. Early on, Mr. Dudley commissioned a review of the New York Fed's bank supervision department and then overhauled it. But in 2012, JPMorgan Chase, also overseen by the New York Fed, suffered huge trading losses in what was known as the London Whale scandal. The New York Fed was faulted.
There are many different types of sites that provide a wealth of free, freemium and paid data that can help audience developers and journalists with their reporting and storytelling efforts, The team at State of Digital Publishing would like to acknowledge these, as derived from manual searches and recognition from our existing audience. Kaggle's a site that allows users to discover machine learning while writing and sharing cloud-based code. Relying primarily on the enthusiasm of its sizable community, the site hosts dataset competitions for cash prizes and as a result it has massive amounts of data compiled into it. Whether you're looking for historical data from the New York Stock Exchange, an overview of candy production trends in the US, or cutting edge code, this site is chockful of information. It's impossible to be on the Internet for long without running into a Wikipedia article.
It's difficult to understand and appreciate why the U.S. and global economies are in so much trouble today without understanding the truth about the unemployment rate and why automation and Artificial Intelligence are rapidly gobbling up nearly all human jobs. Despite the high-spun propaganda emanating from Washington, Wall Street, and Silicon Valley, this is an accelerating trend that is already leading to a Malthusian nightmare. For those who have not read my book yet, this article should give you some interesting thoughts to consider until you read the book. After watching those two videos, it should be clear that there is no technical or logical way for the U.S. and global economies to magically offset the number of human jobs that Artificial Intelligence and automation are devouring. This is why the real unemployment rate today is actually over 22% and it will continue rising to 50-75% within your lifetime (assuming you were born after 1955).
The recent technological advancement within artificial intelligence, the "Internet of Things", and robotics has generated significant impact on traditional businesses, causing decreasing profit margins across several sectors, whereas most of the big winners in the Wall Street IPOs are companies with innovative ideas from Facebook (NASDAQ: FB) and Twitter, (NASDAQ: TWTR) to Snapchat (NYSE: SNAP). There are two common determining factors among those successful IPOs: Ideation and User Generated Content (UGC). In the era of big data and artificial intelligence, we will soon be able to create the tools to better capture the value from ideation and UGC, as well as spur economic growth by capitalizing on human ingenuity. With the ever-accelerating developments in technology, the world is in the process of moving from a consumer economy to a knowledge-based economy, and from a debt- based system to an equity based system, which will include movement from tangible assets to intangible assets. Hence we envision that our world economic system will operate on a new growth formula.
Nearly two decades ago, a 10-year-old shareholder stood in front of a microphone here and asked Warren Buffett how the Internet would reshape companies. Buffett, the chairman and CEO of Berkshire Hathaway, said fairly little. He saw a threat in the Internet, but said he was unsure how it would ultimately affect his investments, according to a report at the time. On Saturday, that same shareholder, Thomas Kamei, now a 27-year-old investor based in New York, submitted an updated version of his question at Berkshire's annual meeting. This time, Kamei focused on artificial intelligence, a technology that threatens to upend the economy just as the Internet did years before.
The technology world is on the verge of one of its biggest ever waves of disruption, as the intersection of the Internet of Things and Real Time Communications gives birth to the Exchange of Everything. This new concept is reminiscent of the technology trend that swept through Wall Street back in the 1990s. I came into Wall Street fresh out of college, building trading floor technology that helped firms keep up with the growth of the public markets and introduction of new platforms. This meant building and engineering sophisticated trader voice applications connecting thousands of participants – buyers, sellers, brokers, banks and, of course, exchanges. It was'real time all the time' with 24-hour global trades emerging, where seconds meant millions and there was no tolerance for anything other than'pin drop' audio.