Very strange and trying economic conditions have most businesses thinking about where to leverage technology for efficiencies and cost savings. This article from My Tech Decisions highlights some of the areas where humans will always have an edge.
“We must be open to the possibility of business models that might strike us as insane,” says Geoff Colvin, senior editor at large, Fortune Magazine, at his NSCA BLC 2020 keynote.
Years ago, the idea of robotics and automation displacing millions of human workers seemed like an insane concept. There are just certain things artificial intelligence cannot do, right?
Today, AI and robotics can do things we never thought possible. Robotic surgeons can perform surgery with high success rates. AI lawyers, when put up against human lawyers in a study, identified 95% of issues in a contract within 26 seconds on average. Human lawyers identified 85% in 93 minutes on average. AI is diagnosing medical diseases and coming up with new medicines that are moving into the trial phase.
Certainly, capabilities of AI and robotics that seemed insane years ago are very much a reality today.
“Advancing technology has always eliminated jobs and always will,” says Colvin. “But it also creates new jobs and, what’s more important, it enables the creation of still other jobs. On average, these jobs are more productive so they pay better than the old ones, and there are more of them. That’s why the history of the past 250 years has been more jobs and higher living standards.
“Advancing technology is the best thing that has ever happened to humanity,” he says. But are things different this time?
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