AI’s Eventual Impact on Job Security Remain Unclear: Augusto Beato

February 28, 2019 – – Advances in Artificial Intelligence (AI) are moving so quickly that people have no idea about its real impact, observes Augusto Beato of Portland SEO. He was reacting to the contradicting analyses of AI’s effect on job security.

Chinese AI expert Kai-Fu Lee, who was dubbed the “Oracle of AI” by “60 Minutes” this week, predicted that AI would displace 40 percent of jobs. On the other hand, McKinsey, one of the most trusted global management consulting firms, insists that less than 5 percent of occupations consist of activities that can be fully automated and that in about 60 percent of occupations, only one-third of tasks could be automated.

Meanwhile, PwC predicts a relatively low displacement of jobs of around 3 percent in the first wave of automation, but this could dramatically increase up to 30 percent by the mid-2030s. “AI will increasingly replace repetitive jobs, not just blue-collar work but a lot of white-collar work,” Lee told CBS News.

According to Lee, chauffeurs, truck drivers — anybody who does driving for a living, their jobs will be disrupted more in the 15-to-20 year timeframe and many jobs that seem a little complex – chef, waiter – a lot of things will be automated.

He added that there would eventually be automated stores and restaurants and in 15 years will displace about 40 percent of jobs in the world.

Lee is the CEO and co-founder of Sinovation Ventures, a Beijing-based venture capital firm that has backed more than 140 AI startups since it was founded in 2009. The company, which has about $2 billion under management, has backed 10 billion-dollar AI startups, and even has a few worth more than $10 billion.

“AI will improve productivity, efficiency, and accuracy across an organization, but many fear that it will lead to machines and robots replacing human workers,” Beato, who is the CEO of Portland SEO, pointed out.

To learn more about how Portland SEO can increase a business’ online visibility, follow this link.

McKinsey insists that AI, especially a category called AIOps, and automation will only take away mundane tasks and that time and resources now be better focused on driving innovation and mission-critical projects.

An AIOps mindset is one that is focused on prediction overreaction, answers over an investigation, and actions over analysis. But most importantly, an AIOps mindset never loses focus on customer experience or business performance

“And this is precisely the conversation that we need to have with our teams and peers: AIOps is not something to be fearful of. It will not replace our jobs – it’s going to elevate it,” said McKinsey.

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