Welcome to your jobless future… Artificial intelligence will replace half of all jobs in the next decade

Artificial intelligence is set to replace 50 percent of all jobs in the next 10 years, renowned technologist Kai-Fu Lee predicted. In a report published last year, Lee highlighted how artificial intelligence is starting to shape the world’s landscape. “AI is really changing every profession and every industry. There’s almost nothing that won’t be touched by AI. You could easily imagine education applications for instance — AI could replace a lot of the basic teaching functions. Medicine and health are also key areas. AI works very hard and is very cheap. Humanity as a whole will have a lot more resources and we will probably be able to take care of everyone thanks to AI. As for human mankind, we’re probably not here on Earth to perform repetitive and non-productive tasks,” Lee said in TechCrunch.com.

According to Lee, artificial intelligence will be the single most significant innovation in all of human tech revolutions combined — such as electricity, the industrial revolution, internet, mobile internet — due to its pervasiveness. Lee also stressed that artificial intelligence far surpasses human capabilities. As an example, Lee noted that artificial intelligence could recognize three million faces at the same time, and may even disperse loans in eight seconds. “It is the decision engine that will replace people. These are things that are superhuman, and we think this will be in every industry, will probably replace 50 percent of human jobs, create a huge amount of wealth for mankind and wipe out poverty” Lee stated in a separate article in CNBC.com.

Latest figures showed that the current global population is around 7.2 billion. About 70 percent of people around the world belong in the working population. If Lee’s predictions prove true, five billion jobs worldwide will be lost to artificial intelligence within the next 10 years….

Source: Welcome to your jobless future… Artificial intelligence will replace half of all jobs in the next decade

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