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The Everything Revolution. Many journalists, bloggers, scientists and futurists have described artificial intelligence and robotics as “The Third Industrial Revolution.” It may be more accurate to call it “The Everything Revolution.”
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The Everything Revolution • Many journalists, bloggers, scientists and futurists have described artificial intelligence and robotics as “The Third Industrial Revolution.” It may be more accurate to call it “The Everything Revolution.” • Most of us are familiar with “robotic, automated devices” that have an arm and are used in automotive manufacturing and assembly. They have made manufacturing more efficient and safer, and introduced many new products. • Now, however, we are on the cusp of AI and robotics moving from the factories and into public and private places, making these technologies more visible to everyone and to change “everything.”
The Early Stages of AI • Today’s AI is defined as “technologies that solve specific problems without being coded explicitly, such as self-driving cars, e-commerce chatbots and recommendation systems.” • “Artificial general intelligence,” which doesn’t yet exist, is “AI that can generally engage with problems without being explicated trained and can determine how to solve completely new problems, like a human can.” • It’s not just AI itself that will cause The Everything Revolution, but its integration with the Internet of Things (IoT), 5G technology, much greater data capacity and computational power and many other innovations.
Greet the Robots! • Target has tested an inventory robot to roam the aisles. It’s linked to RFID technology to improve inventory turnover and reduce empty shelf space. • Best Buy’s robot, Chloe, is now operating in a New York store. It retrieves small items that customers order via touch screen kiosks throughout the store. • Working with state legislatures, Starship Technologies has helped to pass laws in Virginia, Idaho, Wisconsin and Florida that allow unmanned delivery robots on sidewalks and in crosswalks.
The Effect on Jobs • The forecasts of how much AI and robotics will replace humans are wide-ranging. Kai-Fu Lee, the highly respected Chinese futurist, has predicted that 50% of all jobs will be replaced within just 10 years. • The upside, according to Lee, is that this revolution will generate huge amounts of wealth and eliminate poverty. • Infosys, however, predicts that by 2030, automation is likely to displace 86% of jobs in accommodations and food services, 75% of jobs in transportation and warehousing and 67% of jobs in real estate and rental and leasing.
Freeing Our Minds to Think • A study from Redwood Software and the Centre for Economic and Business Research (CEBR), has found that advancements in automation in 23 countries during the past 20 years have actually benefited most economies. • Futurists expect the age of AI and robotics to free people whose workday is spent on repetitive and mundane tasks to transition to professions and occupations that require human thinking and interaction. • According to a 2016 McKinsey & Company study, automation will have no effect on those who manage others and a low effect on applying expertise (18%) and stakeholder interaction (20%).
Data Fuels AI • One of the major reasons that AI is becoming a common technology is that its “fuel” is data. • The top 5 companies in the world, as measured by market capitalization, – Apple, Alphabet, Microsoft, Amazon and Facebook – are data companies first and computer, search engine, online shopping and social media companies second. • These companies will be able to maintain their dominance by utilizing data in more complex and sophisticated ways and AI will be the primary means to do so.
Kick Starting the Global Economy • We now live in a time of large aging populations and fewer adults working. • This has resulted in slow productivity growth and the downstream effects of meager wage increases and overall prosperity. • AI is more likely to boost the global economy significantly, as the early period of robotics (1993–2007) increased productivity 0.4%, while automation is forecast to increase productivity 0.8%–1.4% through 2065.
The Continued Automation of Industry • ABI Research predicts that sales of industrial robots in the US will increase almost 300% before 2026. 40% more industrial robots were sold in the US during 2016, compared to 2013. • The automotive industry has been a leader in the introduction of industrial robots for decades and, during 2016, the industry spent $1.2 billion on these devices, which was 70% of all North American industrial robot shipments. • The average annual increase in the number of robots in the pharmaceutical and life sciences industry has been almost 21% since 2012.
Many People Don’t Fear AI and Robotics • According to its Customer of the Future survey, Lippincott, a global creative consultancy, 80% of consumers are excited about advancing technologies. • Almost the same percentage (78%) think smart machines, AI and robotics give them more power and control of their lives. • Of the 2,000 “leading edge” consumers who participated in the Lippincott survey, 82% said the world is becoming more convenient, 75% said their lives are more flexible and 64% think the world will be better within 10 years.
Coming to a Store Near You • Pepper, a humanoid-looking robot from Softbank Robotics, is already operating in two Westfield Malls in California, where she directs shoppers to stores. • During July 2017, Cali Group, parent company of Caliburger, obtained $3.1 million in funding to partner with other companies to develop Flippy, a burger-flipping robotic kitchen assistant. • AI could easily help Amazon transform the more than 400 Whole Foods locations into local, mini-distribution centers, making it easier and less costly to deliver fresh food items during the same day.
The Automation of Marketing • Although it may be some time yet before local businesses introduce AI and/or robotics into their operations, even the smallest local retailer, must at least be willing to educate himself or herself about these technologies. • Marketing leaders from across the globe are already aware of the potential substantial effect of AI and what the “big boys” of marketing see on the horizon generally becomes reality for even the smallest retailers and companies. • Seize the opportunity to expand your knowledge and be the thought leader on which your prospects and clients will rely to guide them through The Everything Revolution to its many benefits.
