Stock trading: In 2015, six of the top eight hedge funds in the U.S. earned around $8 billion based largely — or exclusively — on AI algorithms. “The machine” has already won in stock picking.
Healthcare: AI is quickly surpassing the capabilities of human radiologists. At Houston Methodist Hospital, AI software interprets results of breast X-rays 30 times faster than doctors do, and with 99% accuracy.
Law: AI-enhanced computer systems are conducting discovery and due diligence far better, faster, and cheaper than the most talented paralegals. Soon, relying only on humans for discovery might become grounds for malpractice.
For many people, the encroachment of AI into the human sphere — and the rise of the new machine fueled by AI, algorithms, bots and big data — raises a discomfiting question: If machines can do everything, then how are humans going to make a living?
This question has been going through my mind, and those of my colleagues at Cognizant’s Center for the Future of Work, for a while, too. Which is why we’ve worked to define how technology will shape the opportunities and threats we face, and to foresee how man and machine will relate and coexist.