Future Skills: Harness the Power of Artificial Intelligence

Are you intrigued by the potential applications of AI and machine learning? If so, then you are not alone! And there is a good reason.

Not only has the nearly limitless potential of this technology captured humanity’s imagination, AI applications are and will continue to quickly transform the modern world. The power of AI and machine learning can be applied to any area that employs technology including finance, security, and space exploration. A study by Bughin et al. (2018) found that an estimated 70% of companies will adopt AI technology in the next decade. Due to the disruption that AI and machine learning are poised to cause in the coming years, those who have developed marketable skills in this area are likely to enjoy the most job security.

Like many technologies that existed in science fiction long before they were actualized to solve societal and business problems, there is a high degree of excitement around what AI can do, but it is important to realize that this technology is still truly in its infancy. While the days of receiving wisdom and guidance from an artificially intelligent oracle may be in the distant future there are ways to utilize AI and machine learning today that are highly innovative and astounding.

This technology appears to be paving the way to a future in which human capabilities are expanded, with AI playing a much larger role in our lives such as through the increased sophistication of wearable devices (Carfagno, 2019).

In medical practice, clever applications of AI and machine learning will allow for faster and more accurate diagnoses. A research paper by Oh and colleagues (2018) found that their automated system was able to identify cardiac abnormalities with an accuracy of over 98% and far faster than could be done manually. Also, automated checkups and procedures provide a possible answer to the problem of an aging population that is growing faster than the number of doctors and nurses that will be needed to provide the proper care.

Much of this technology is already being developed and selectively implemented. In Japan, which is home to the world’s largest elderly population, researchers and engineers are leading the way in this field. A 2018 survey by Orix Living Corp. found that the public has relatively little anxiety regarding this technology with over 84% of respondents indicating they were ready or wanting to receive nursing care from robots.

More broadly, AI and machine learning will transform the workplace over the coming decades in a variety of ways. This technology will enable organizations to automate many tasks and one day likely entire positions and departments. Nedelkoska and Quintini (2018) found that 14% of jobs are at a high risk of AI-enabled automation and an additional 32% are likely to undergo significant modifications.

While this will have the effect of making businesses leaner and more profitable those who find themselves out of work, as a result, will need to identify other areas for themselves to earn a living. While this will undoubtedly result in a degree of social disruption, it will also lead to greater production, productivity, and technological advancement including an estimated $13 trillion in global economic activity by 2030 (Oh et al., 2018).

For these reasons and more, it is important to understand AI and its potential impact on the world as we know it. With the greatest impact of AI still to come there is an unprecedented opportunity for IT professionals to get involved and prosper. Developing skills, working on projects, and understanding the applications of AI and machine learning will prove to be indispensable experiences as the need for IT professionals who specialize in AI and machine learning will only grow in the years to come. While it may take a while before AI thoroughly shakes the world to its core that process has begun and some of the most exciting, cutting edge, and impactful projects, both ongoing and on the horizon, require AI and machine learning skills.

A 2020 Forbes study found that hiring growth for AI specialists increased 74% annually in the past 4 years and that trend is likely to continue. Now is the time to begin or continue developing expertise in this field. Hop on this technological train and ride it to a future filled with prosperity, job security, and a career that positively impacts people’s lives because it is only going to continue to gain speed and momentum. All aboard!

Bughin, J., Seong, J., Manyika, J., Chui, M., & Joshi, R. (2018). Notes from the AI frontier: Modeling the impact of AI on the world economy. McKinsey Global Institute.

Carfagno, J. (2019). 5 new and emerging wearable medical devices. Docwirenews.com. Retrieved May 16, 2020, from https://www.docwirenews.com/docwire-pick/future-of-medicine-picks/top-5- wearable-medical-devices/

Columbus, L. (2020). AI specialist is the top emerging job in 2020 according to LinkedIn. Forbes.com. Retrieved May 16 2020, from https://www.forbes.com/sites/louiscolumbus/2020/01/05/ai- specialist-is-the-top-emerging-job-in-2020-according-to-linkedin/#574ab58c7495

Oh, S.L., Ng, E.Y.K, Tan, R.S., and Acharya, U.R. (2018). Automated diagnosis of arrhythmia using combination of CNN and LSTM techniques with variable length heart beats. Computers in Biology and Medicine, 1(102), 278-287. DOI: 10.1016.

Nedelkoska, L. and Quintini, G., (2018). Automation, skills use and training. OECD Social, Employment and Migration Working Papers, No. 202, OECD Publishing, Paris. DOI: 10.1787/2e2f4eea-en