A recent article in Forbes headlined Goldman Sachs Predicts 300 million jobs will be lost or degraded by Artificial Intelligence (AI). I immediately reviewed the article, and while reading it, I thought, how would this affect my children and society? My children are both in college, studying computer engineering and pre-medical biology. So, I researched AI within those areas. As it turns out, AI will replace some of the entry-level programming positions. In the medical field, it will assist in the operations and analysis of specific ailments and provide more poignant treatment decisions. I know this is only touching the tip of the iceberg, and AI will become more ingrained in those areas and other areas. I began to think that we have entered another revolution of how businesses operate, how the workforce is utilized, how society will function, what new skills will be needed to be competitive, and how it will impact our workers. Moreover, globally we are entering another revolution and reshaping society. So, the questions I asked myself:
- As a parent, how can I best prepare to guide my children about artificial intelligence?
- What new skill sets or career tracks should my children pursue to be more competitive in the job market?
- How can communities not be left behind by the AI revolution in this society?
- What companies should I invest in to profit financially from AI, and how should I position my children to benefit as well?
The History of the Industrial Revolution
The industrial revolution is considered one of the most critical periods in human history, marking the emergence of the modern industrial age. There has always been a revolution in a society where operational functions or raw materials were used to enhance production, add value to humanity, and change and expand businesses. The industrial revolution refers to a period of social, economic, and technological transformation in Europe, North America, and the rest of the world during the 18th–19th centuries. Over this period, traditional ways of life changed dramatically as the world transitioned from an agrarian to an industrial-based economy. Throughout this period, the world’s economy underwent dramatic and far-reaching changes as traditional production methods were replaced by new technologies and advanced techniques.
The industrial revolution is typically divided into four distinct stages, each marked by a different emphasis on technology, labor, and the production of goods. The first Industrial Revolution, which began around 1760, was powered by the introduction of coal-powered steam engines. This allowed factories to produce goods more quickly and efficiently, dramatically expanding industrial production.
The second Industrial Revolution, which began in the 1870s, was driven by advances in manufacturing and production processes and technological improvements. The introduction of electricity and the large-scale use of machines also revolutionized industry during this period.
The third Industrial Revolution, which occurred around the turn of the 20th century, was characterized by the introduction of petroleum and the development of automobiles. This led to the proliferation of cars and trucks, allowing for far greater transportation capabilities.
The fourth and most recent Industrial Revolution, which began in the late 20th century, is driven by technological advances, such as the development of the internet and the widespread use of computers. This has allowed businesses to expand their worldwide reach and source raw materials, manufacture, and distribute goods globally. The industrial revolution has impacted everyday life for workers, businesses, and society through these various stages. It has revolutionized people’s work and life and created the modern industrial age. It is a testament to the power of technology and innovation to transform the world.
The Artificial Intelligence Revolution
The Artificial Intelligence (AI) revolution is one of the most significant technological advances of the modern day. AI is transforming how businesses and individuals interact with the world, unlocking a new era of possibility. Here are some of the ways that AI is revolutionizing modern society:
- Automation: AI has made automation possible, allowing machines to perform tasks that would take humans far too long. AI automates many mundane and repetitive tasks and processes, making them faster and more accurate.
- Deep learning: With AI, computers can learn independently, making decisions based on data and experience. This helps businesses make more efficient decisions and better understand their customers. Through deep learning, AI can gain insights from data that humans could never process.
- Predictive analytics: Predictive analytics is a powerful tool that allows businesses to anticipate future events and tailor their offerings based on these predictions. AI collects and analyzes data, making predictions about customer behavior and preferences.
- Robotics: Robots are becoming increasingly common in everyday life, with AI allowing them to perform tasks more quickly and accurately than ever before. From manufacturing tasks to robotic surgery, AI is making robotics more efficient and reliable than ever.
- Cybersecurity: AI plays an increasingly important role in cybersecurity, allowing businesses to protect data more effectively and prevent security breaches. AI can detect and respond to threats quickly, making it essential for cyber security solutions. The AI revolution is just starting and will continue revolutionizing how we interact with the world. From automation to deep learning, AI is transforming how we do business and revolutionizing modern society.
What Jobs Artificial Intelligence will replace over the next 20 years?
As automation continues to evolve and artificial intelligence advances, many people wonder what the future of work will look like. A key concern is how Artificial Intelligence (AI) will affect our jobs over the next 20 years. AI promises not only to automate and improve existing jobs but it could also replace some human jobs altogether. We will look at the jobs AI could replace over the next 20 years.
First, AI could replace many administrative and data entry roles. AI can be trained to quickly process and analyze vast amounts of information, allowing humans to focus on more complex tasks. AI could also take over customer service roles, with automated chatbots able to answer basic customer queries. Furthermore, AI can be used in many manual labor roles where robots can now be programmed to perform activities like welding, packing, and sorting goods.
The legal field could also face the threat of AI, and it is expected to be used to review documents, detect patterns, and even write legal documents and briefs. AI could also be used in accounting for collating and analyzing data for financial reports. AI is expected to provide diagnoses in medicine, further freeing medical practitioners for more complex cases. Soon, AI could even be used for managing operations in areas ranging from logistics to retail.
What Jobs Artificial Intelligence will create over the next 20 years?
As Artificial Intelligence (AI) advances and becomes more widely accessible, it holds great promise for job creation for the next 20 Years. AI brings many new opportunities and the potential to create a whole range of alternative job opportunities. Here are a few examples of some of the experiments and jobs that AI may create over the next 20 years:
- Machine Learning Developer – AI-based machine learning will be at the forefront of data management processes and big data analytics. Machine learning developers will use AI-based systems to identify patterns, provide insights and make predictions.
- Robotics Engineer – Robotics engineers will design and build robots that can complement human labor in various fields such as manufacturing, healthcare, transportation, and more.
- Virtual Reality Developer – Virtual reality developers will create immersive experiences by combining multiple AI-generated visuals and sound types into an interactive environment.
- Autonomous Vehicle Engineer – Autonomous vehicle engineers will design and build self-driving vehicles that can navigate roads and highways autonomously.
- AI Business Analyst – AI business analysts will leverage AI to analyze data and provide insights to inform decisions regarding marketing, operations, finance, and other aspects of the business.
- Internet of Things (IoT) Engineer – IoT engineers will create products interacting with IoT to allow for more innovative automation and task automation.
- Healthcare AI Specialist – Healthcare AI specialists will leverage AI to evaluate medical images, make diagnoses, and provide recommendations to physicians.
- AI Consultant – AI consultants will provide specialized advice and analysis to businesses on using AI to optimize operations and improve decision-making.
- Content Creator – Content creators will use AI tools to generate content that can be used to promote products and services, as well as create engaging visual experiences.
- AI Systems Security Professional – AI systems security professionals will monitor and protect AI-powered systems and mitigate vulnerabilities.
These are just a few jobs AI could create over the next 20 years. As technology advances, AI will continue to impact the job market and create new opportunities for those with the skills and knowledge to navigate the environment.
As a parent, how can I be best prepared to teach my children about artificial intelligence?
Preparing to guide your children about artificial intelligence (AI) can seem daunting as a parent; however, there are many steps you can take to ensure that you can help your child understand the implications of AI and the potential opportunities it holds for them. Here are some critical steps to get you started:
- Learn about AI and its impact on the world. Look into news outlets, websites, and online discussion boards to discover what is happening with AI and how it is changing our society. Keeping current on the latest developments in AI is essential for discussing and explaining it to your child.
- Familiarize yourself with the basics of AI. Understanding the basics of AI is essential to helping your child comprehend the implications and possibilities of AI in their own lives. Look into books, web tutorials, and online courses to build a basic understanding of AI and its capabilities it has.
- Explore the ethical implications of AI. AI holds the potential for significant harm, so it’s essential to discuss the ethical implications of the technology with your child. Look for discussions about the ethical implications of AI and review them with your child.
- Talk with your child about AI. Talking with your child about AI is essential for helping them develop a meaningful understanding of the technology. Ask your child to explain what they have learned about AI and discuss the implications of AI on their lives and future. Learning about AI and communicating openly with your child can help ensure they are prepared to understand and benefit from AI as it evolves. With a solid foundation in AI, you and your child can explore the potential of this exciting and powerful technology.
What new skill sets or career tracks should my children pursue to be more competitive in the job market?
As the world transitions to digital-first, the future of work is becoming increasingly AI-driven. As AI becomes more and more prevalent, acquiring the correct skill sets and career tracks related to this technology will be an invaluable asset for future job seekers. As a parent, ensuring that your children are equipped with the right skills and knowledge to compete in the job market is essential.
One of the best ways to ensure your children stay ahead of the curve is to encourage them to learn about AI-driven tools and technologies. With the vast number of online courses and resources available, teaching your children the fundamentals of AI and related topics such as machine learning, deep learning, and natural language processing is easy. Additionally, your children should focus on building versatile coding skills and pursuing certifications that can support their knowledge of the technology.
For those who are looking to break into the field of AI-driven careers, there are numerous pathways they can pursue. The most common and in-demand roles include data scientists, software engineers, and AI researchers. However, various other professions, such as AI product manager, business analyst, and AI project manager, are increasingly being sought after in the job market.
Your children need an up-to-date understanding of the industry’s advancements to maximize their opportunities and stay ahead of the competition. This means keeping up with trends, attending seminars and conferences, and networking with professionals in the industry. Doing so will allow your children to stay current on recent developments and have the required knowledge and skills to remain competitive in the job market.
How can communities not be left behind by the AI revolution in this society?
The digital revolution is transforming how people interact, work, and live. To remain connected and engaged, communities must understand and take advantage of the opportunities presented by digital technology while remaining mindful of potential risks and challenges. As technology advances, it is increasingly essential for communities to be proactive in integrating new tools to ensure they are included.
One of the critical ways communities can avoid being left behind by the digital revolution is to focus on developing digital literacy. This means that community members must be taught skills like using computers and interacting on social media. This digital literacy provides a foundation for using updated tools and resources and allows citizens to take full advantage of what technology offers.
In addition, communities need to ensure that citizens have access to the same digital resources. This includes accessing the internet, mobile phones, laptops, and other technologies. It is also essential to access reliable and fast internet speeds so that users can easily access and use technology. This can be addressed by ensuring good internet infrastructure in the area and using public resources like libraries and community centers.
Communities should also prioritize digital security and privacy. This means educating their citizens on cybersecurity and implementing digital safety policies in public institutions. This can help protect community members from cyber threats and ensure their data remains secure.
Ultimately, each community should assess its digital infrastructure and resources to understand how to integrate digital technology best and prepare for the future. By supporting digital literacy, ensuring digital access and resources, and prioritizing digital security, communities can ensure they are well-equipped to take advantage of the digital revolution and not be left behind.
What companies should I invest in to profit financially from AI, and how should I position my children to benefit as well?
Integrating Artificial Intelligence (AI) into the modern world is rapidly advancing. Many investors seek to exploit the promise of a technological future by profiting from AI. AI is already impacting many sectors, from healthcare and security to transportation and finance, with even more potential applications in the future. As a forward-thinking investor, you may wonder how you and your family can benefit financially from AI and what companies are best positioned to increase your return on investment (ROI).
The first step to profiting from Artificial Intelligence is to understand how the technology works and identify the companies that are investing heavily in the technology. AI is a broad field of computer science that involves machines or algorithms that can learn and adapt to changing data. Companies such as Google, Apple, and Microsoft are heavily investing in AI, and their expertise can help you determine which investment opportunities are most likely to yield a high ROI.
Once you’ve identified the best companies for investing in AI, you can target specific sectors to explore further. Healthcare is one area that is particularly ripe for investment opportunities related to AI. Companies like IBM leverage AI-powered analytics and robotics to transform healthcare processes and improve patient outcomes. Investing in healthcare-related technologies can provide your family with a steady income stream and a chance to contribute to the betterment of society.
In addition to healthcare, finance is another sector investing heavily in AI. Companies like Mastercard and Visa use AI-powered analytics to detect fraud and protect consumers. Investing in financial services can provide excellent returns and prepare your children to join the workforce in a rapidly changing field due to AI.
Finally, don’t overlook the potential of investing in AI startups. Many small companies are working on projects related to AI, and these are often excellent investment opportunities. Investing in young startups can be risky, so research and consult with experts before investing.
Alan D. Benson is an accomplished author and the President of Benson Group, LLC. As a business leader and entrepreneur, Alan focuses on helping clients achieve their goals and objectives. To learn more about Alan and Benson Group, LLC, please visit www.alandbenson.com and bensongroupllc.com. You can also connect with Alan on Twitter, LinkedIn, and Facebook. With his thought-leading insights and proven track record of success, Alan is a great resource for your business needs.
