Richard Goold, partner and head of tech law at EY, and his colleague Lauren Anderson explore how artificial intelligence will disrupt the labour market both here in the UK and overseas.
Artificial intelligence (AI) is not a new concept. Technologies that mimic the cognitive functions associated with human intelligence such as learning and problem solving have been around for decades and in many cases have become such routine technologies that we no longer perceive them as being examples of AI.
AI technologies are only now making significant headway at the top of the bill due to the proliferation of the Big Data universe and the massive investments being made in storage, tracking and analytical technologies.
AI systems increase processing speed, reduce mistakes usually caused by human error and minimise labour demand and costs, all while improving customer satisfaction rates....