Last Friday, the government revealed how the budget for more investment in cutting-edge technology and innovation would be split, with business secretary Greg Clark announcing that robotics and AI will be receiving £93 million as part of the government's £1 billion Industrial Strategy Challenge Fund – impacting a range of sectors, including healthcare.
The emerging wave of artificial intelligence (AI) and machine learning (ML) is expected to bring about a significant shift in the factors of production in the global economy. There is now a high degree of agreement that a significantly large number of workers in several sectors will become redundant. It is, therefore, important to swiftly implement the palliative measures which can neutralise the impact of the new age technologies.
Artificial Intelligence (AI) is developing fast and its application across industries could, and arguably should, be about to reshape the way we structure our approach to labour and the workforce. Given this proposition, we need to examine exactly what so-called'machine intelligence' in the shape of AI could bring to modern business processes.
There's no shortage of books, news articles and comments in social media about how artificial intelligence (A.I.) is shaping our future. Although it's still blazing a trail, we're on the brink of A.I. disruption that will change all industries and society at a very deep and fundamental level. I believe it will be one of the next great wealth generators.