Artificial Intelligence, or AI, has already received a lot of buzz in the past decade, but it continues to be one of the new technology trends because of its notable effects on how we live, work and play are only in the early stages. AI is already known for its superiority in image and speech recognition, navigation apps, smartphone personal assistants, ride-sharing apps and so much more. Other than that, AI will be used further to analyze interactions to determine underlying connections and insights, to help predict demand for services like hospitals enabling authorities to make better decisions about resource utilization, and to detect the changing patterns of customer behaviors by analyzing data in near real-time, driving revenues and enhancing personalized The AI market will grow to a $190 billion industry by 2025 with global spending on cognitive and AI systems reaching over $57 billion in 2022. With AI spreading its wings across sectors, new jobs will be created in development, programming, testing, support and maintenance, to name a few. On the other hand, AI also offers some of the highest salaries today ranging from over $1,25,000 per year (machine learning engineer) to $145,000 per year (AI architect) - making it the top new technology trend you must watch out for!
Machine Learning is the subset of AI, is also being deployed in all kinds of industries, creating a huge demand for skilled professionals. Forrester predicts AI, machine learning, and automation will create 9 percent of new U.S. jobs by 2025, jobs including robot monitoring professionals, data scientists, automation specialists, and content curators, making it another new technology trend you must keep in mind too
Like AI and Machine Learning, Robotic Process Automation, or RPA, is another technology that is automating jobs. RPA is the use of software to automate business processes such as interpreting applications, processing transactions, dealing with data, and even replying to emails. RPA automates repetitive tasks that people used to do.
Although Forrester Research estimates RPA automation will threaten the livelihood of 230 million or more knowledge workers or approximately 9 percent of the global workforce, RPA is also creating new jobs while altering existing jobs. McKinsey finds that less than 5 percent of occupations can be totally automated, but about 60 percent can be partially automated.
For you as an IT professional looking to the future and trying to understand the latest technology trends, RPA offers plenty of career opportunities, including developer, project manager, business analyst, solution architect and consultant. And these jobs pay well. An RPA developer can earn over ₹534K per year - making it the next technology trend you must keep a watch on
IDEAS MADE TO MATTER ARTIFICIAL INTELLIGENCE
Why ‘the future of AI is the future of work’
by David Author David A. Mind dell Elisabeth B. Reynolds, Jan 31, 2022
Why It Matters
In a new book about how technology will affect workers, MIT experts explain how artificial intelligence is far from replacing humans — but still changing most occupations.
Amid widespread anxiety about automation and machines displacing workers, the idea that technological advances aren’t necessarily driving us toward a jobless future is good news.
At the same time, “many in our country are failing to thrive in a labor market that generates plenty of jobs but little economic security,” MIT professors David Author and David Mind dell and principal research scientist Elisabeth Reynolds write in their new book The Work of the Future: Building Better Jobs in an Age of Intelligent Machines.
The authors lay out findings from their work chairing the MIT Task Force on the Work of the Future, which MIT president L. Rafael Reif commissioned in 2018. The task force was charged with understanding the relationships between emerging technologies and work, helping shape realistic expectations of technology, and exploring strategies for a future of shared prosperity. Author, Mind dell, and Reynolds worked with 20 faculty members and 20 graduate students who contributed research.
Beyond looking at labor markets and job growth and how technologies and innovation affect workers, the task force makes several recommendations for how employers, schools, and the government should think about the way forward. These include investing and innovating in skills and training, improving job quality, including modernizing unemployment insurance and labor laws, and enhancing and shaping innovation by increasing federal research and development spending, rebalancing taxes on capital and labor, and applying corporate income taxes equally.
The first step toward preparing for the future is understanding emerging technologies. In the following excerpt, Author, an economist, Mind dell, a professor of aeronautics, and Reynolds, now the special assistant to the president for manufacturing and economic development, look at artificial intelligence, which is at the heart of both concern and excitement about the future of work. Understanding its capabilities and limitations is essential — especially if, as the authors write, “The future of AI is the future of work.”
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To address the time to develop and deploy AI and robotic applications, it is worth considering the nature of technological change over time. When people think of new technologies, they often think of Moore’s Law, the apparently miraculous doubling of power of microprocessors, or phenomena like the astonishing proliferation of smartphones and apps in the past decades, and their profound social implications. It has become common practice among techno-pundits to describe these changes as “accelerating,” though with little agreement on the measures.
But when researchers look at historical patterns, they often find long gestation periods before these apparent accelerations, often three or four decades. Interchangeable parts production enabled the massive gun manufacturing of the Civil War, for example, but it was the culmination of four decades of development and experimentation. After that war, four more decades would pass before those manufacturing techniques matured to enable the innovations of assembly-line production. The Wright Brothers first flew in 1903, but despite the military application of World War I, it was the 1930s before aviation saw the beginnings of profitable commercial transport, and another few decades before aviation matured to the point that ordinary people could fly regularly and safely. Moreover, the expected natural evolution toward supersonic passenger flight hardly materialized, while the technology evolved toward automation, efficiency, and safety at subsonic speeds — dramatic progress, but along other axes than the raw measure of speed.
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