AI, Big data, Automation,
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This Harvard Business Review article shares some examples of how machine learning is being applied to optimizing business processes. The examples are good ones. 44% of US consumers prefer chatbots to humans. Customer relationships are improved by anticipating behavior and customizing strategies. It is being applied to screening and shortlisting job candidate applications or improving fraud detection and security systems.
The article is a light piece with these and just a few other examples. It doesn't speak to the patterns of these developments. AI is being used as a tool to optimize but it is also doing more and more things better than humans. The impact of AI is such that nearly every organization will need an AI strategy and just as they get one will realize the AI is not something that gets bolted on but is something that gets applied ubiquitous. In other words it becomes everyone's job to eliminate everyone else's job. This is not to argue that AI should (or could) be slowed or avoided. But it is different than mobile smart devices, social media, online commerce and payments, the internet or even the PC or communications revolutions. AI will eliminate jobs much faster than it will create new ones. The unintended consequences will be huge. Massive shifts in employment could give way to a dramatic overall reduction in the demand for all labor. Those earlier (and still ongoing) technical revolutions did a good job of creating wealth and do create certain types of jobs. Most of my associates and I built careers on that foundation. But AI is not a tool like the others. It is a better way of thinking. Let's hope someone build an AI that can figure this out for us.
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AuthorMichael Zammuto is the CEO of Completed.com and Cloud Commerce and a strategic adviser to several startups. Mike's background is in SaaS services, B2C sites and B2B firms and has worked extensively in online reputation, digital marketing and branding. Archives
October 2019
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