UK needs skills revolution in response to AI
The UK is going to have to experience a skills revolution if it wants to keep up with the “large swathes” of people that will be substituted by artificial intelligence (AI) technology, according to Bank of England (BoE) chief economist Andy Haldane.
Haldane, among many others, has called these series of technological advances the “fourth industrial revolution” in a BBC report, and says it could have larger effects than the first, back in Victorian times.
The current jobs market does not look very promising: rising inequality, social tension and many people struggling to make a living.
The financial services are sure to be affected, particularly given the big conversations around automation and machine learning that are currently taking place.
Sharon Einstein, VP EMEA robotic automation and AI, Nice, says the reality is that AI is not a threat to human beings at work – it enhances their experience and positions them for greater influence in the workplace.
“With the average employee spending an average of 80% of their day on mundane, routine work that don’t necessarily need human input, a significant amount of potential often goes unrealised. Research also shows that happiness makes people more productive at work.”
On the topic of AI ruining lives, here’s a video on how to implement it.