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AI to bring about widespread changes
Organization: Department of International Cooperation        Publish Date: 2019-10-08 08:58
The emergence of artificial intelligence is expected to have a major economic, social and political impact and has already caused disruptive innovation in many fields, ranging from education and medical care to transportation and beyond. According to consulting firm Gartner Inc., AI will become a net job creator from 2020, with approximately 2.3 million employment opportunities being generated and roughly 1.8 million being lost.

Meanwhile, the number of jobs in the retail sector will greatly decline as "Staffless shop" becomes more popular, according to the World Economic Forum. Between 30% and 50% of retail jobs globally will face the risk of disappearing altogether, analysts have estimated. Nevertheless, many jobs will remain as most customers still prefer having interactions with knowledgeable staff in physical stores, especially in areas such as cosmetics and home repair.

Regarding driver demand, the negative impact of autonomous driving technology is far less than the positive effect of ride-hailing firms such as Uber and Didi. In addition, adoption of this technology is expected to take longer as unmanned vehicles require more precision than other artificial intelligence systems, and safety concerns will have to be thoroughly addressed before regulators give the greenlight.

In the retail banking sector, automated teller machines will become more and more intelligent and will eventually take on most roles of bank branches. AI will become the main medium of interaction between banks and customers.

In summary, AI can predict success rates, but it cannot predict the future. The economy is based on human interactions, and as machines continue to evolve, human judgement and decision-making will ultimately still be required. Only through wisdom and insight will we be able to realize the full positive potential of AI.

Sources: Ministry of Science and Technology website, AI Technology R&D Guidelines,INSIDE, Manager Today, Curiosity Daily
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