IT leaders are rapidly adopting artificial intelligence (AI) to further empower their businesses. While it brings about a set of conveniences, there are bound to be consequences, said Michael McQueen (pictured above), futurist and best-selling author, at The Summit 2017 in Singapore.
He explained that while AI adoption can help improve efficiency and productivity, over-investing in such machines and solutions may result in job cuts and losses.
There are five jobs that he forsees to be most likely affected/replaced by AI technology.
The first are telemarketers as the role can be fulfilled by chatbots. Next are accountants/bookkeepers, insurance appraisers, sports officials such as referees, and legal secretaries. These four jobs can be replaced by intelligent robots, he stated.
McQueen also predicts that cars will reach level 4 automation by mid 2020s, meaning that they will be capable of handling most driving situations themselves unless in unmapped areas or severe weather. "[As such] in 30 years' time, owning a car will be as obsolete as owning a horse. The future will be about mobility-as-a-service," he said.
In order to stay ahead of disruption, IT and business leaders need to first foster healthy paranoia. "Be hungry for the next challenge as it's game over the moment you get complacent. And be humble -- arrogance and close-mindedness [are keys to failure]," advised McQueen.
Next, leaders should think revolution, not evolution. "If you want to maintain momentum to get on a growth curve and stay there in the time of rapid disruption, you need to think of revolution. This requires you to see things in a different mindset," he said.
"[Finally, leaders] shouldn't wait till disruption hits before they react. Dig the well before you get thirsty. For instance, CorningWare reinvented themselves before the world forces them to do so; and they've done so by repurposing their glass-ceramic which is usually used for cookware for life science equipments," he concluded.
Other stories from The Summit 2017:
- Lost? Here's the roadmap to become a digital native enterprise
- AR becomes a reality for DHL and National Museum of Singapore
- How analytics enable Johnson and Johnson to become a digital-enabled enterprise
- DHL shows how smart glasses can help improve warehouse operations
- What will future data centres be like?
- Steps to secure a cloud-filled future
- CIO Summit KL 2017: What are the keys to staying relevant in a digital native's economy?
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