This evolving report looks at emerging trends in artificial intelligence (AI).
How will AI impact society in the future?
The One Hundred Year Study on Artificial Intelligence (AI) is a long-term investigation of the field of AI and its influences on people, their communities, and society. It considers the science, engineering, and deployment of AI-enabled computing systems.
As business opportunities for artificial intelligence multiply, how can industry leaders design the principles and technical standards into their products that benefit society as a whole? Dimensions addressed by the panel included: data ecosystems for privacy and security, algorithms for greater social inclusion and institutions to build trust among stakeholders.
Please see below some of the more thoughtful and significant recent headlines about the ongoing and accelerating automation of work (new content in bold).
WHY SHOULD YOU CARE?
ETHICAL WILL TRUMP TECHNICAL?
An associate professor of education and economics at Harvard University, showed that in recent years, many jobs requiring only mathematical skills have been automated. Bank tellers and statistical clerks have suffered. Roles which require predominantly social skills (childcare workers, for example) tend to be poorly paid as the supply of potential workers is very large.
- Outsourcing is being disrupted by the innovations in robotic process automation, which could cut labour costs and free workers from boring tasks. The implications of this are discussed in a new Raconteur report along with how outsourcing is no longer reserved for big corporations as more start-ups and small business are realising the advantages to be had.
- In the next few decades, about 56% of all salaried workers in Cambodia, Indonesia, the Philippines, Thailand, and Vietnam could be displaced by automation and advanced technologies, such as 3D printing. That at least is the conclusion of an extensive series of new studies by the International Labour Organisation.
- Technology has created more jobs than it’s destroyed - Deloitte
- Automation will lead to a net loss of 9.1 million US jobs - Forrester
- The economic myth of robotics and the robot job-ocalypse - Financial Times
- Automation angst: Three new papers examine fears that machines will put humans out of work - The Economist
- Automation will continue to transform the global workforce - BBC
- New world of work: digital marketplace reshapes casual labour - Financial Times
- For centuries, experts have predicted that machines would make workers obsolete. That moment may finally be arriving. Could that be a good thing? - The Atlantic
- Which jobs are doomed? - Futurology
- Governments are enthusiastically raising the minimum wage of workers. But how high can they go without being harmful? - The Economist
- When it comes to automation it is the web of processes built around our day to day lives , not rogue robots, which should cause us concern
In 20 Forecasts for 2011-2025, World Future Society identified breakthroughs most likely to affect work, investments, and family life over the next 15 years.
Please see below selected recent intelligence about technology. This is a synthesis of major recent developments at competitors, business schools, thinktanks, media, commentators, and other key influencers.
PPlease see below selected pre-2016 intelligence about technology. This is a synthesis of major recent developments at competitors, business schools, thinktanks, media, commentators, and other key influencers.
- KPMG released its ‘Fintech 100’ report, a collaborative effort with fintech investment firm, H2 Ventures. The report identified the leading 50 ‘Established’ fintech companies across the globe, and 50 ‘Emerging Stars’. Fintech is now truly a global sector – The list is comprised of 40 US companies, 20 from EMEA, 18 from the UK and 22 from Asia Pacific. China fintech leads the world – ZhongAn, a Chinese company tops this year’s list, and there are seven Chinese fintech companies on the list (with six in the 50 Established list). Payments is at most risk of disruption - Fintech growth in payments, currencies and transactions sees these segments of fintech now representing 25% of the Fintech 100, a substantial uplift on last year. Insurance finds its fintech footing - The top 2 companies on the list are insurance fintechs (with 7 overall, compared to none last year). Shift from disruptors to enablers – 25 ‘enablers’ (service providers to financial companies) this year, compared to 7 last year.
- Many executives pine for their internal IT systems to give them a more consumer-friendly experience, claimed the Harvard Business Review. They point to the simplicity, ease of use, and hassle-free nature of the digital services they use in their personal lives: the apps on their smart phone that make services available at the push of a button, software that can be installed and configured with the click of an icon, the ability to plug a printer into a laptop’s USB port and have it ready to print, a tablet that can be connected to the internet without any cautionary pop-ups warning about potential security risks or possible compatibility problems. In the consumer IT world everything just seems to work, they lament. Why does corporate IT make things so complicated? Unfortunately, most executives don’t recognise that consumer IT and enterprise IT are different animals. They don’t understand that they must play the pivotal role in the critical decisions that shape enterprise IT- decisions that they leave to the likes of Yahoo, Apple, Google, and Vodafone in the consumer world.
- Big Data is failing businesses and costing them millions in missed opportunities, at least according to a survey from flash storage provider Pure Storage. It cited a number of reasons for the failure, but specifically blamed a lack of quick access to critical information, a lack of workers skilled in data management, and red tape. The pan-European report entitled “Big Data’s Failure” highlights the struggle businesses are experiencing in trying to access the information they need in a timely manner. The report found that over half of businesses have missed opportunities they didn’t see coming because they lacked accurate information at a time when they really needed it.
- Cloud service providers are quickly rolling out innovative cloud services, and, for a growing number of enterprises, cloud-first is a preferred strategy. Enterprises are facing more competition than ever, so they're scouting for their next cloud service for competitive advantage. To select the right service, they must understand its maturity, ecosystem, and potential to solve business problems. In a new TechRadar, Forrester assessed what it considers the 18 most important cloud service categories.
Please see below selected recent intelligence about the ongoing digital revolution.
Q3 (July-August-September) 2016
- Deloitte is targeting fast-growing start-ups and SMEs with a new accounting and analytics service, the latest example of how cheaper access to technology is allowing the Big Four professional services firms to expand their reach. The new cloud-based service is called Propel and has received £2.5m in funding from Deloitte’s Innovation Investments scheme, which encourages its entrepreneurial employees to turn start-up ideas into businesses. As well as a core accounting service, clients have their own “dashboard”, which gives a real-time view of how their business is performing, in areas including its cash position, trends in web traffic and how sales are correlated to the weather.
Please see below the most compelling new megatrend headlines over the past month. This edition covers demographic, economic, societal, sustainability, technology and urban trends.
For more information about our megatrend and related products and services, please get in touch.