Who doesn't know Elon Musk, Sam Altman is in the news because of ChatGPT and Geoffrey Hinton, aka Godfather of AI
In 2012 Geoffrey Hinton and his students laid the foundations of that technology on which AI tools are based AI tools can do almost anything
The new technology will influence the whole world as machines will get more intelligent and eventually develop feelings
Then what will be the future of humanity?And what about jobs?
In the next 5 years how will jobs be affected?
If AI will handle everything - from manufacturing to marketing - then what will human workforce do?
Those who find the key to AI will unlock success
However we are still blind to the fast changing AI
Before we know the impact of AI - what exactly is artificial intelligence in the first place?
Why AI developers are scared?
In May, Geoffrey Hinton resigned from Google ... he had been working on AI for 10 yrs
Finally he can openly talk about AI
You can imagine how bad it is that Geoffrey Hinton himself is regretful that he laid foundations of AI technology
AI may lead to flood of fake news ... and it is already so difficult to tell truth from the lies
People will lose jobs
AI is already eliminating low level jobs
More complicated jobs are also at risk
AI may also endanger humanity if we underestimate its ability
Machines have the ability to take input, process and show output
Machines are helping doctors too ... the only remaining difference b/w machine and human was Cognition - ability to comprehend
AI will soon erase this difference and become aware of its environment
Machine learning is a process by which machines learn on their own - by means of a neural network - much like neurons in our brain
For example - when you add raw ingredients of a recipe the app may detect which dish you will be preparing and recommend items
Now you will say, what is the big deal?
But this is just basics ... there are also advanced uses of AI
AI can be divided into the following 4 types:
Reactive AI examples include Netflix recommendation or Chess game - in which the computer responds to moves
This was the first stage
Perfect example of limited memory AI is a self driving car which not only responds to on road activity but also has driving history
Third stage is theory of mind
Robots like Sophia are built on theory of mind AI ... Saudi Arabia gave the robot its citizenship
Thus robot technology is constantly evolving and understanding human emotions more
Then the fourth stage
Imagine a robot that has self awareness, feelings and desires
This is the next level of AI and work is already being done on this technology
Then imagine the kind of impact it will have on society
The immediate impact of AI is changing norms ... for example in our country biggest change in employment
There will also be impact on news and politics
...but biggest debate is how AI will eliminate or create jobs
AI will put an end to jobs with repetition, like customer service, feedback calls, credit card sale, computer support
Then fields like accountancy, graphic design and market research will be impacted by AI
Mass layoffs are not just due to economic situation but also for AI automation
Low level jobs will be quickly impacted ... on the other hand -
Nasscom report shows that India ranks 1 in terms of AI skill penetration
Tech workers already have basic knowledge of AI and upskilling will be of great help in becoming AI powerhouse
AI talent demand is rising
...then why is India not AI talent hub already?
Answer is in education - we are focusing more on history and less on future ... more investment to be done in machine learning than on Mughal history
Computer science seats are very less ... many students think of picking any random course, say metallurgy, if it is from IIT
We made a video on truth of IIT and whether future is secure - in digital age skills matter more and course selection is important
If you get computer science, will there be updated cutting edge syllabus or bookish knowledge from 10 yrs ago?
How will the student grow if the curriculum is old?
This is changed by Scaler School of Technology and their 4 year residential course - but only for 200 students
Scaler is this episode's partner - their entire course is designed by industry professionals ... theory and practical knowledge from experience
They have accomplished teachers - including those who worked at Google, Facebook messenger, Microsoft, Uber
Scaler understands that not everyone learns at the same speed and that is why there are batch success managers to help clear doubts
One on one sessions with industry experts
Students will learn new age in-demand technologies like AI and ML, do real world projects like voice assistant and e-commerce
Scaler school of technology has 900 placement partners and monthly interaction with industry veterans
If you're a student and want to graduate in computer science, do check out Scaler school of technology - Link is in description
On one hand companies are laying off employees but they are also hiring for their AI team
Businesses are trying to make use of AI in every sector
There are 1500+ AI focused startups in India that are helping in:
Technology has solutions to problems created by technology
For example: Anti-virus software to tackle malicious software
To combat deep fakes and AI frauds, a new industry will be set up and that will require trained engineers
This makes 75% of AI jobs in India
If you talk about ML engineer and data engineer then that makes 50% jobs
To fill these jobs will require the right education from right place
IT revolution brought change and evolution of jobs ... similarly will happen with coming of AI
If we play our cards right then this could increase economy by $500 billion
Remember, there will be job losses - in India 50 lakh BPO, BPM, ITES customer service jobs ... here will be biggest impact
Sridhar Vembu, CEO of Zoho has written to Govt that emerging tech could lead to chaotic and catastrophic consequences
Because our population is young - median age is 29 - many jobs will be at risk
Sekhar Garisa, CEO of Foundit which was Monster.com earlier - has also said that AI will replace 7% low skilled service workforce
The rate at which AI is evolving might quickly increase this 7% figure
Tata sons chairman N Chandrasekaran says AI will be a disruptor
As a country, we can surge ahead in AI race but we must evolve too
Someone who knows AI will take your job, if not AI directly
Research shows that AI will impact 25% jobs in next 5 yrs - as well as 69 million job creations, but 83 million job losses
Net loss of 14-15 million jobs
300 million jobs could be affected by AI said Goldman Sachs
Common sense and numbers show that AI will make a huge impact on job market - so we must prepare
AI will also have impact on other aspects of life
Interesting example - you all must know about stock market ... there was a time when opening a demat account was a tedious process
After opening account, there was confusion what to buy so there were advisors, researchers and recommendations
Today, one can open demat account in 5 minutes and set trading algorithm
50% trading is done via algorithmic trading - a program does everything, from research and recommendation to purchase and sale ... how many jobs were eliminated?
What is worrying is that we are not that prepared for AI
We have largest startup ecosystem but not a significant presence in AI
Forget OpenAI's ChatGPT or Bard by Google - what major innovations were done by 1500 AI startups on funding of $4 billion
Their mission is different - to make processes smooth like FlipKart improved its shopping experience with AI
Razorpay is trying to stop frauds with AI help
Vedantu used AI to make classes more fun and accessible
As per experts, we need more AI skilled workforce to make fresh innovations
India has over 5 million IT employees ... but low end spectrum working on BPO or system maintenance
If you don't study you might sit at the shop counter - that is what parents said, but it could change soon
Subway has launched a new vending machine - grab and go - machine will prepare your sandwich
Weight sensing machine will be used to charge customer appropriately
Subway will launch this machine in India ... Daalchini Technologies CEO says that ready to eat, home cooked food can be dispatched by vending machines - it is an untapped market in India
So, AI will replace shops
AI will arrive and change a lot of things - impact on jobs is already apparent - jobs are in danger
We must upskill and be AI ready to avoid risks from AI
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