WHAT IS AI
Artificial intelligence (AI), the ability of a digital computer or computer-controlled robot to perform tasks commonly associated with intelligent beings. AI can gather and analyze data, eliminate repetitive tasks and increase the productivity
For the business, artificial intelligence implementation and machine learning processes have many opportunities to grow and work smarter.
According to forecasts Artificial intelligence (AI) and machine learning processes technologies will generate as many jobs in the U.K. as they replace the next 20 years. AI could displace about 7 million jobs but let’s not forget, it could also create 7.2 million jobs.
The impact of AI on individual sectors varies a lot. For example, In the health and social work sector, the number of employed people could increase by almost 1 million, whereas jobs in manufacturing could decrease about 25 percent.
Demand for additional workers
Very important point is AI can reduce prices and increase the real income which is spending levels, thus creating certain demand for additional workers.
Increase by sectors
For example, professional, scientific and technical services could have a 16 percent net increase, whereas education could experiment an increase of 6 percent. If we compare the statistic with public administration, transport or storage sectors here some decreases are estimated to happen (22 and 18 percent, respectively).
Where to invest?
I think, the governments should invest more in the following sectors — science, technology, engineering, art and design and mathematics — because these skills encourage employees to improve constantly their aptitudes in order to complement the machines and technologies. The safety net for those who find it difficult to combat technological change should also be strengthened.
Like in every field there will be pro’s and con’s because It’s likely that the fourth industrial revolution will give advantages to workers with strong digital skills, as well as capabilities like creativity and teamwork as for machines and technologies it is very hard to replicate.
What do you think about AI implementation in your business? If you have your question, please write it below, I would be glad to answer your questions or to introduce your project to my team at Astorts Group to be evaluated
Alessandro Rocco Pietrocola is an entrepreneur and investor based in London and operating mainly in Europe, Asia and Oceania with main focus on UK, Baltic Countries, Russia, China, Hong Kong, Malaysia, Singapore, Middle East and New Zealand as area of interest! At the moment is the Ceo of Astorts Group. He is an UK FCA (Financial Conduct Authority) Approved Person and is has great experience as director of regulated companies. He uses to dedicate part of his life to inspire others and help them achieve the most out of their life. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting, wealth management and fintech. He loves travelling, he is a cigars lover, an amateur golfer and a dapper man.