Tag: AI

AI will automate tasks, not skills

Michael Hicks, Professor of Economics at Ball State University, USA, claims productivity growth, whether through automation, plant design or better-skilled workers, doesn’t kill jobs – it eliminates tasks: First, hard, dirty and dangerous ones – think agriculture and steel-making where output continues to grow in volume but now uses a small fraction of the labour …

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Winners and losers with AI and robotics

Artificial intelligence and robotics are disrupting every aspect of work and redefining productivity The old ways of dolng things are undergoing a massive change In a conversation with Knowledge@Wharton, Srikanth Karra, Chief HR Officer at Indian IT services firm Mphasis, discusses what this means for individuals, organisations and countries – in particular, Karra says: Managerial jobs …

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AI pluses versus minuses

Some optimists, like technologist Nick Bostrom, believe AI is: “The last invention the human race will ever need” However, given these are early AI days, fundamental questions still being asked include: How can we make sure robots’ only purpose would be to serve humans and our environment and make human lives better? Should robots make …

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AI will create millions of jobs

Professor Robert Gordon of Northwestern University, USA, says: “No invention in the last 250 years, since the first Industrial Revolution, has caused mass unemployment “Though jobs are constantly being destroyed, they are also being created in even larger numbers – there is enormous churn in the job market – at present, there is actually a …

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AI to spark a new productivity boom?

A new productivity boom could be sparked by AI – Artificial Intelligence? Who says so? No less than two UK government ministers Culture Secretary Karen Bradley says: “AI has the potential to improve our everyday lives” – precisely what productivity improvement is all about And Business Secretary Greg Clark claims: “Huge social and economic benefits AI …

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AI will transform the future

In the early 19th century, most of the world’s population was employed on manual, back-breaking agricultural work – then automation increased the productivity of farmers more than tenfold whilst reducing their numbers from being the majority of the workforce to less than 2% – and the many outplaced moved on to new, better-paid jobs in …

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The coming productivity boom

Why is the American economy not as productive as it used to be? Why is US GDP growth below 2% per annum, well short of the 3.5% it averaged before the Great Recession of 2008? Bret Swanson, President of Entropy Economics, and Michael Mandel, an economist, believe ‘the long productivity drought is almost over, as …

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Robots to transform Education

An article in The Times reported that Anthony Seldon, former headmaster of Wellington College, UK, believes: “The imminent arrival of robot teachers will herald the greatest revolution in education” “Personalised learning, facilitated by artificial intelligence, will mean that every student from Eton to the most deprived school in Blackpool, will receive education of a standard …

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Productivity sure aint ‘dull’

The following is a letter sent to the Sunday Times on 17 July, 2017 following an article by Andrew Marr, the broadcaster and journalist, which concludes that ‘productivity is dull’ Productivity has transformed the lives of most people in the UK What were luxuries for a select few a mere 100 years ago, if they even …

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AI becoming mainstream in Retail

Expert systems to aid human and plant maintenance and clever OR (Operations Research) computer models (aka apps) to find optimum solutions to complex business problems have been around for over 50 years now AI (Artificial Intelligence) is just the latest moniker for much the same, albeit more powerful Retail Week recently published an article about …

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Greatest AI value needs new business models

In the 60s and 70s, most firms invested in mainframe computers, then minis, to improve service, not output, and because everyone else seemed to be doing so – they were not investing in IT to improve productivity – and these IT investments were all focussed on supporting existing business models Josh Sutton, CEO of Agorai, …

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