Use Of AI Technologies Growing But Not A Huge Risk To Jobs Yet

Use Of AI Technologies Growing But Not A Huge Risk To Jobs Yet

Editor: Philip Ragner | Tactical Investor

We cover multiple arrays of topics for one simple reason. The world is interconnected, and it is not only financial factors that drive the markets. Geopolitics is another major driving force behind the markets. Crowd Psychology dictates that if you focus on the tree, you will forget that the tree is part of a forest and in doing so you will miss the bigger picture. For example, George Soros is behind the surge in fake stories, the massive Anti-Trump riots and the funding of plethora of revolutions that seek to change the existing regime.  Having the ability to cross analyse multiple factors with an open mind provides you with a much clearer picture of what to expect from the financial markets. On that note, we think you might find the following story of interest:

No one can claim to have mastered the markets fully and anyone that does lay claim to such a title should be avoided like the plague.   For example, after QE all the rules changed and many time-tested indicators simply ceased to work because the operating environment had changed forever. The markets were suddenly hit with a force that they had never been hit with before.  A fed that was determined to destroy any shred of free market forces left in the market.  This surprised everyone, and it even caught us off guard initially.  Many so-called experts refuse to accept that they made a mistake or could be wrong. Bull Markets Vs Bear Markets & Arrogance

AI will create more jobs than it destroys was the not-so-subtle rebuttal from tech giants to growing concern over the impact of automation technologies on employment. Execs from Google, IBM and Salesforce were questioned about the wider societal implications of their technologies during a panel session here at Mobile World Congress.

Behshad Behzadi, who leads the engineering teams working on Google’s eponymously named AI voice assistant, claimed many jobs will be “complemented” by AI, with AI technologies making it “easier” for humans to carry out tasks.

“For sure there is some shift in the jobs. There’s lots of jobs which will [be created which don’t exist today]. Think about flight attendant jobs before there was planes and commercial flights. No one could really predict that this job will appear. So there are jobs which will be appearing of that type that are related to the AI,” he said.

“I think the topic is a super important topic. How jobs and AI is related — I don’t think it’s one company or one country which can solve it alone. It’s all together we could think about this topic,” he added. “But it’s really an opportunity, it’s not a threat.”

“From IBM’s perspective we firmly believe that every profession will be impacted by AI. There’s no question. We also believe that there will be more jobs created,” chimed in Bob Lord, IBM’s chief digital officer. “We also believe that there’ll be more jobs created.

“I firmly believe that augmenting someone’s intelligence is going to get rid of… the mundane jobs. And allow us to rise up a level. That we haven’t been able to do before and solve some really, really hard problems.” Read more

 

A new report from Paysa suggests automation jobs will put 10,000 people to work, and big companies will spend $650 million on annual salaries to make it happen. Sean Dowling (@seandowlingtv) has more.
A 15-hour work week. That’s what influential economist John Maynard Keynes prophesied in his famous 1930 essay “Economic Possibilities for Our Grandchildren,” forecasting that in the next century technology would make us so productive we wouldn’t know what to do with all our free time.
-This is not the future Keynes imagined.
Automation. Artificial intelligence. Machine learning. Many experts disagree on what these new technologies will mean for the workforce, the economy and our quality of life. But where they do agree is that technology will change (or completely take over) tasks that humans do now. The most pressing question, many economists and labor historians say, is whether people will have the skills to perform the jobs that are left. Read more

 

Job cuts are usually the first thing that spring to mind when artificial intelligence is mentioned, but AI can be used by online retailers to save a packet without firing anyone.

The use of machine-learning by retail giants such as Amazon for tailoring websites to reflect consumer tastes is relatively old hat, however, one little-known German e-commerce retailer has taken use of AI technology to a whole new level by forecasting future trends.
Forecasting is one of the emerging areas of automation among retailers and at Otto the move to AI is already beginning to deliver results.

Research has shown that customers who have to wait more than two days to receive their order are far more likely to return it – forcing the vendor to forgo the sale and swallow the shipping costs.
A lot has been made of threat to jobs posed by AI, but robots in the workplace also present an opportunity to create new roles for human workers. Read more

 

Other Articles of Interest

2018

Stock Market Insanity Trend is Gathering Momentum (Jan 10)

Is value investing Dead (Jan 9)

Irrational markets and Foolish Investor: perfect recipe for disaster   (Jan 5)

Stock market Crash Myths and Realities (Jan 3)

Bull-Bear Markets & Arrogance (Jan 1)

2017

Will The Stock Market Crash In 2018 (Dec 11)

Has US Dollar Finally Hit Bottom  (Dec 6)

BitCoin Has Done What Precious Metals Never Could (Dec 4)

Experts Making Stock Market Crash Forecasts usually know nothing  (Nov 17)

1987 stock market crash anniversary discussions- nothing but rubbish ( Oct 24)

Dow 22K Predicted In July 2017; Next Target Dow 30k? (Oct 15)

Anxiety and Greed Index Don’t Support Stock Market Crash  (Oct 14)

Fed States Inflation is not an issue? (Oct 13)

Is Bitcoin a Bubble or Good Investment? (Oct 9)