Posts Tagged 'Economic Impacts'

AI and the Costs of Late Adoption

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The McKinsey Global Institute has released an 80-page “discussion paper” entitled Artificial Intelligence: The Next Digital Frontier?

 Needless to say, the question posited in the title is a straw man, as the research results indicate clearly both the current rush toward AI-powered innovations and the business advantages early adopters are experiencing. The report is appropriately wide-ranging, covering the dynamics of profit gains for early-mover enterprises, estimating “windows of opportunity” in the market and the capabilities required to seize them, and, not ...

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McKinsey on the State of AI and the Costs of Late Adoption

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The McKinsey Global Institute has released an 80-page “discussion paper” entitled Artificial Intelligence: The Next Digital Frontier?

Needless to say, the question posited in the title is a straw man, as the research results indicate clearly both the current rush toward AI-powered innovations and the business advantages many early adopters are experiencing. The report is appropriately wide-ranging, covering profit-boosting for enterprises, estimating “windows of opportunity” in the market and the capabilities required to seize them, and, not least, considerations of re-skilling ...

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AI: the new Electricity?

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Andrew Ng, formerly AI lead at Baidu, now adjunct professor at Stanford offers a concise, 3-minute overview of his views of “AI as the New Electricity.” He combines a bit of history with some interesting rules of thumb on what currently-human tasks will be AI-able and with a projection of which fields will be first to broadly adopt AI approaches.

Listen to Prof. Ng’s assessment of the progress of the AI market at WSJ Video: http://www.wsj.com/video/andrew-ng-ai-is-the-new-electricity/56CF4056-4324-4AD2-AD2C-93CD5D32610A.html

 

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Financial Times Doubles Down on Robots’ Impacts

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Robotics, like cognitive computing, is a field in full upheaval. Today’s market has left welding, assembling, and spray painting far behind and is now knocking on the door of blue collar and white collar skills alike. Implications are seismic for applications ranging from military weaponry to journalism to customer service to emerging investment niches. The Financial Times collects a large selection of perspectives on robots’ impacts across the business spectrum.

Read more at The Financial Times

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Smarter Perspectives Needed to Prepare for Smart Machines

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Tom Davenport and the International Institute for Analytics offer a thoughtful perspective on “how to help humans work better with smart machines.” This is not the first or the last word you will hear on this issue, but it provides an important, business-based perspective on what can be a largely emotional topic.

Read more at International Institute for Analytics

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The Guardian and Julius Baer Consider Thinking Machines

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The British-based Guardian newspaper, with support from Swiss bank Julius Baer, gathered a group of 14 business, technology, and academic leaders for a roundtable discussion of “Industry 4.0” — the impact of smart machines on industries, jobs, productivity, and social norms.

The conversation touches on novel developments grounded on AI, from the impacts of self-driving tractors and data-driven agriculture on farming, to the impact of increasingly intelligent robotics on manufacturing employment, to the changes in health care practice being brought about ...

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CSC’s Leading Edge Forum Declares “Matrix” Era

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London-based Leading Edge Forum, a research arm of CSC (Computer Sciences Corporation) issued a new study, titled Embracing ‘the Matrix’ and the Machine Intelligence Era. The study declares that the current intersection of Cloud computing and “machine intelligence” will bring about an “ever more capable digital ecosystem” that they dub “The Matrix.”

Read more at Leading Edge Forum

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Merrill Lynch On the Investment Opportunity in Robotics/AI

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Merrill Lynch/Bank of America Research has released a thick “thematic investing” report (300+ pp.) reviewing the state of robotics and AI development, exploring their impact, and outlining potential investment strategies. In broad strokes, the report calls for the overall market for robots and artificial intelligence-based systems to triple in the next five years to some $150+B, with robotics accounting for roughly $80B and AI systems $70B. Like other recent reports, it sees considerable labor force disruption arising from these trends.

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McKinsey On Workplace Automation & AI

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A new McKinsey Global Institute study examines the degree to which automation technology will impact “jobs, organizations, and the future of work.” The study will run into 2016, but an interim report released recently already provides plenty of profound data points for executives and workers alike to consider. Stunningly, for example, the McKinsey researchers conclude that currently demonstrable technologies have the potential to automate 45% of the activities workers are paid to perform. In an unusual but insightful twist, their ...

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The End of Expertise? Or A New Beginning?

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Bill Fischer, Professor at International Institute for Management Development in Lausanne, Switzerland, recently penned a short op-ed nugget titled “The End of Expertise.” The piece is a “perspective” written to coincide with the 7th Global Drucker Forum being held in Vienna in November, and it was published on a no less respected platform than the Harvard Business Review website.

A major tenet of Fischer’s argument is that today’s decision makers need merely enlist “AI” to assemble from the Internet the answers ...

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