A Japanese company just revealed how artificial intelligence will revolutionise work

Japanese insurance firm Fukoku Mutual Life Insurance is planning to make 34 employees redundant. But they are being replaced by an artificial intelligence (AI) system that can calculate payouts to policyholders. The firm says it will increase productivity by 30% and will save £1m a year once the AI system is running. The machine in question is IBM’s Watson Explorer, which possesses “cognitive technology that can think like a human”. Machines hired, people fired This move is a sign of things to come. Findings published by the Nomura Research Institute (NRI) suggest that within the next 20 years, nearly half of all jobs in Japan could be carried out by robots. A 2013 study [pdf] by the Oxford Martin School looked at the same issue in the US. Researchers estimated that, over the next two…


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