RMS US LLP Chief Economist Joseph Brusuelas says the time of artificial intelligence and machine learning is “now upon us” and has been hastened by the changes which have come about during the coronavirus pandemic. “The pre-pandemic status quo is just not going to return,” he said. “For the first time those middle-market clients … they’re going to pull forward a decade’s worth of investment in productivity-enhancing intellectual property software and equipment.
“That means the time of artificial intelligence and machine learning is now upon us. “Firms are going to have options, some of them, especially the big ones who are much more advanced and much further along the road, they might opt to substitute technology for labor. “It’s that long-term technological unemployment we’ve all talked about for years – well unfortunately that’s here”.
Mr. Brusuelas told Sky News the advances in technology and the integration of artificial intelligence will require governments to provide a different policy solution to support workers. “Here in the United States, we’re going to put forward billions of dollars to retrain those bartenders and those service workers who are going to have to learn how to code and work in a more advanced, more sophisticated technological environment”.News Source: SkyNews