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AI to replace over 50% of ALL jobs in the next 10 years

AI will be 'larger than all of the human tech revolutions added together'
By: Anthony Garreffa | Science, Space & Robotics News | Posted: Apr 28, 2017 7:32 am

Most tech companies are pumping engineers, man hours, and technology and man hours into Deep Learning and AI technology - but will it eventually result in tens of millions of job losses across the world? Yes, yes it will - according to Kai-Fu Lee, the founder of venture capital firm Sinovation Ventures. Lee is also a leading voice on technology in China.

 

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Lee recently spoke with CNBC, where he said that AI is the "singular thing that will be larger than all of human tech revolutions added together, including electricity, [the] industrial revolution, internet, mobile internet - because AI is pervasive". Amazingly scary words, but also very exciting. Lee added that "It is the decision engine that will replace people". It was only recently that I reported that AI engineers had left the grip of Google, moving into the most secretive AI startup on the planet - probably Skynet, I guess.

 

Lee said that his firm has invested millions of dollars into AI companies that are capable of recognizing 3 million faces simultaneously, or pumping out loans in less than 8 seconds. He added: "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".

 

He expects this massive change to roll through in the next 10 years, but creating a "huge amount of wealth for mankind", I can see - but at what cost? Also, wiping out poverty sounds good on paper - but how will AI help that exactly, when there's rampant corruption in the countries where poverty levels are the highest - AI would need to overcome a lot of obstacles that the smartest people in the world can't figure out because of societal problems, not just mathematical equations.

NEWS SOURCES:Cnbc.com

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