People have been afraid that AI will make humans obsolete since its introduction to the workforce. We began to see AI take over jobs and cause layoffs in certain industries like the automotive industry. Although this only fuelled the anti-AI firestorm, it may have been a mistake. According to current trends, AI seems more likely to create jobs than take over. We keep you informed about current trends in the job marketplace.

As we enter the age of advanced technological breakthroughs such as Artificial Intelligence (AI), Nigeria cannot be left out in harnessing the advantages …

The debate over automation has been overshadowed by more immediate economic problems created by the coronavirus crisis. But when things return to some semblance of normality, it's sure to crop up again and may well play a role in how a recovery takes shape. The basic question is whether automation is good or bad for average workers. The latest salvo against the robots comes from economists Daron Acemoglu, Andrea Manera, and Pascual Restrepo. In a recent National Bureau of Economic Research paper entitled "Does the US Tax Code Favor Automation?," they argue that taxes are higher on labor than on capital equipment, causing companies to invest too much in machines and not enough in manpower.

This was one of the main messages of the keynote address delivered by Gartner group vice president Dr Brian Kropp (pictured) at the global research and advisory firm's ReimagineHR conference at Westminster's Park Plaza hotel yesterday. With nine in 10 organisations investing in AI or having plans to do so, Kropp called on delegates to not just focus on the challenge posed by AI creating or eliminating jobs but to look at how AI can create access to jobs. Kropp gave the example of a café in Japan, which has created jobs for people with amyotrophic lateral sclerosis (ALS), a disease that causes the death of neurons controlling voluntary muscles. ALS sufferers can control a robot from their bed, who then commutes to work on their behalf and serves customers. "Think about that for a second," Kropp told delegates.

The inevitable march toward automation continues, analysts from the McKinsey Global Institute and from Tata Communications wrote in separate reports this week. Artificial intelligence's growth comes as no surprise -- a survey from Narrative Science and the National Business Research Institute conducted earlier this year found that 61 percent of businesses implemented AI in 2017, up from 38 percent in 2016 -- but this week's findings lay out in detail the likely socioeconomic impacts in the coming decade. The McKinsey models predict that 70 percent of companies will adopt at least one form of AI -- whether computer vision, natural language, virtual assistants, robotic process automation, or advanced machine learning -- by 2020. And Tata found unbridled enthusiasm among business leaders for an AI-dominated future; in a survey of 120 of them, 90 percent said they expect AI to enhance decision-making. McKinsey and Tata both contend that's a good thing.

The inevitable march toward automation continues, analysts from the McKinsey Global Institute and from Tata Communications wrote in separate reports this week. Artificial intelligence's growth comes as no surprise -- a survey from Narrative Science and the National Business Research Institute conducted earlier this year found that 61 percent of businesses implemented AI in 2017, up from 38 percent in 2016 -- but this week's findings lay out in detail the likely socioeconomic impacts in the coming decade. The McKinsey models predict that 70 percent of companies will adopt at least one form of AI -- whether computer vision, natural language, virtual assistants, robotic process automation, or advanced machine learning -- by 2020. And Tata found unbridled enthusiasm among business leaders for an AI-dominated future; in a survey of 120 of them, 90 percent said they expect AI to enhance decision-making. McKinsey and Tata both contend that's a good thing.

In the next several years, artificial intelligence will transform how humans interact with businesses. This technical transition is one of the most powerful shifts in computing that the world has ever seen--and it has the potential to be a force of good. According to research from the McKinsey Global Institute, AI could add $13 trillion to global output by 2030 and raise GDP by 1.2% annually. For this reason, companies will benefit from a long-horizon view of their investments in AI technology. The allure of heightened automation is strong from both cost-cutting and revenue-generating perspectives.

A growing number of people are worried that robots -- and other machines with artificial intelligence -- will imminently steal so many jobs that it will lead to a future of pervasive unemployment. But even a cursory reading of history will show that we've been here before. Consider a series of headlines pulled from just one newspaper, the New York Times, as an illustration: In 1928, the Times ran an article titled "March of the Machine Makes Idle Hands." In 1956, it announced "Workers See'Robot Revolution' Depriving Them of Jobs" (for an article about labor unrest in London). In 1980, the newspaper declared "A Robot Is After Your Job."

Accenture, which now has over 50 per cent of its revenues coming from digital, is betting big on Artificial Intelligence as the company feels AI has the ability to enable socio-economic development in India, unlocking at least a trillion dollars of economic value by 2035. In a conversation with BusinessLine, Rekha M Menon, Chairman and Senior Managing Director, Accenture in India, talked about how AI is transforming not just Accenture's clients but also the tech giant itself. People are worried about AI taking away their jobs, and in several instances, bots have in fact replaced humans. Should humans worry about AI taking over? AI is the'alpha' of all technology trends, and someday it will be as pervasive as electricity, truly transforming the way businesses and societies function.

Advances in robotics and artificial intelligence in China are expected to create more employment opportunities than job losses, a report by the British recruitment company Michael Page says. The report was based on responses from 1,026 employees in the manufacturing, sales, marketing, finance and accounting industries. About 84 per cent of the respondents said they are not anxious about being replaced by robots, and 58 per cent said robots and AI will create more opportunities in the labour market. Peter Smith, managing director of Michael Page China, said such technology advances will allow people to take on more innovative jobs. This is especially true for hi-tech projects such as driverless cars propelled by new technologies as more highly skilled people would be needed to invent and develop allied products.