Sci-fi movies have done a really good job at convincing some people that robots are coming to replace us. And according to a recent paper by Ball State University, roughly half of American working jobs could be automated in the near future.
It’s understandable why people are apprehensive about the AI revolution. But this change is GOOD.
Automation will lead to a more productive society – with highly technical workers building AI-powered machines and less-technical workers (like yours truly) using those machines to boost creativity.
Not sure AI and automation is a good thing? Let’s take a look at some of the technological advances we’re enjoying thus far…
No longer are we limited to analyzing past consumer behavior. With advancements in data science, machine learning, and AI, we can look into the crystal ball and make precise predictions about real-time consumer interests, actions, and overall behavior.
With predictive analytics, marketers can apply mathematical models (predictive algorithms) to data to predict likely outcomes. For instance, an online grocery store could use location, age, gender, and past purchase behavior to determine the likelihood that a consumer is going to buy milk after adding bread to their basket.
We are getting further and further away from needing cold hard (and dirty) cash to pay our friends and retailers. Apps like Venmo & Apple’s EasyPay have made transferring money a breeze. Not only can we see how cheap our friends are (see: my roommate John who still hasn’t completed my request for the cable bill), we can also keep a digital record of our transactions that can work to monitor spending habits.
I can’t imagine living without Venmo. I no longer need a checkbook to pay rent, and I don’t have to feel bad about forgetting to pay someone back for the dinner they spotted me.
My favorite part of Venmo? The social media-like quality where I can leave emoji’s as descriptions of my transactions – even if it’s not enough to get John to pay the bills (JOHN ARE YOU READING THIS??):
Don’t fear the change. The robots aren’t here to usurp us. After all, AI is about making your life easier. In the end, the increase in automation will boost labor productivity, allowing us to do more work more efficiently – a win/win for both man and machine.
Want to learn more about how AI has already paved the way for a brighter future? Check out our previous Change is Good post and stay tuned as we continue to illustrate just how far we’ve come!
Magnetic is an artificial intelligence company that uses machine learning to deliver smarter, faster, and more effective advertising. Our powerful AI platform continuously analyzes the attributes of over 350 million live user profiles alongside real-time inventory supply and bid opportunities to deliver highly performant audiences and profitable campaigns for our clients.