Technology

AI to the rescue

With so many people talking about how AI is changing the world, we’ve rounded up a few industries where the impact of AI and automation are already being felt.

03 May 2019

In Edward Bellamy’s 1888 science fiction novel Looking Backward: 2000–1887, the protagonist falls into a deep sleep in 1887 and wakes up 113 years later in the year 2000. The world he wakes up in is quite different. In the American author’s utopian reality, new technologies have enabled people to be tremendously productive in less time. The ramifications of this include shorter workweeks, early retirement and people having more freedom to pursue personal interests and hobbies. Was Bellamy on to something? We’ll have to wait and see.

What we do know, for now, is that digital innovations like artificial intelligence and machine learning are set to change our lives. AI has already been a major contributor to the success of some of the biggest businesses in the world. But are local companies ready? According to GIBS Business School, AI could double the growth rate of the South African economy and accelerate profitability rates by as much as 38% come 2035. But these innovations are also at the forefront of job disruption. An Accenture report titled ‘Reworking the Revolution’ states: ‘One in three jobs is at risk of total automation in South Africa within the next decade.’ This amounts to nearly six million jobs.

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