Automation — Why Is It Different This Time General Finances
By JingCheng Woo, 3rd July 2018

In Part 1, we discussed why you shouldn’t be worried about automation.
So, how is the present different from the past? Artificial Intelligence!

Artificial Intelligence(AI) is revolutionising every industry and it is happening at a breakneck speed since its beginning 70 years ago. In early 2011, IBM’s AI named Watson, competed and won the Jeopardy! championship. In March 2016, Google DeepMind’s AI, AlphaGo, defeated the Go world champion in four games to one. Experts predict that AI will outperform humans in various tasks such as language translation (by 2024), driving trucks (by 2027), replacing retail workers (by 2031) and performing a surgery (by 2053). As Elon Musk said, “there will be fewer and fewer jobs that robots cannot do better.” According to a 2013 Oxford Martin School study, 47% of the current jobs could be automated …