Just two years ago, the idea of AI automating jobs like creative roles was the stuff of science fiction or at least relegated to a few early-adopting businesses. But now, AI is becoming table stakes for many businesses. In other words, if you’re not using AI, you’re at a disadvantage. The major reason for this is that language models have become much better at understanding natural language.
The examples given so far are just the tip of the iceberg. AI is automating jobs away in virtually every sector and industry. While this might seem like cause for alarm, it’s actually long overdue news. The fact is, we’ve been living in a world where machines have been slowly replacing human workers for centuries.
What’s new is the pace of this automation. Machines are now becoming faster, better, and cheaper than humans at an alarming rate. As a result, we’re seeing a fundamental shift in the economy where machines are starting to do the creative jobs of human beings.
Amidst the opportunity to automate away jobs, a new wave of AI-focused startups has emerged, all seeking to cash in on the potential of AI. This AI gold rush is evidenced by the billions of dollars in venture funding that has flowed into AI startups in recent months. In the third quarter of 2021 alone, nearly $18 billion was invested in AI companies, a record high.
This influx of capital is a sign that investors believe in the potential of AI, and they are betting that it will eventually automate away many jobs, generating that value with machines instead. In the meantime, we should prepare ourselves for a future in which AI is quietly eating up the world’s workforce.