Yes, in certain types of occupations, machine learning technology has already started to replace humans. It is believed that as more investment goes into machine learning (and more organizations and companies implement this tech) that machine learning will take over even more roles usually taken on by humans.

However, it is worth remembering that whilst machine learning will end up replacing humans with some kinds of work, it will equally create as many job opportunities too and even enable people to do their job better than before.

What is machine learning?

Machine learning involves automated algorithms that find patterns in colossal amounts of information and makes links with this data that a human could not. Machine learning solves problems, not a human. The human defines the problem for the machine learning model to fix.

Machine learning is increasingly being used for complex solutions, as humans are only needed to define the problem for the computer, and then it analyses and finds the solution itself.

Machine learning in the workplace

In a study carried out by Oxford University, Yale University and AI Impacts that involved talking to 352 machine learning experts about their predictions for AI (which machine learning is an offshoot of) in the workplace, some interesting results materialised.

The experts who participated in the survey predicted when they believe the crossover point is likely to be when machine learning technology will end up performing better than humans can. They believed that machines will:

  • Be better at translating languages by 2024
  • Outperform humans writing essays by 2026
  • Be able to drive lorries by 2027
  • Outperform in retail by 2031
  • Outperform as a surgeon  by 2053

The study even possibly suggests that there is a 50% chance AI and its related technology will perform better than humans in 45 years time!

Jobs susceptible to machine learning - or are they?

Researchers at PWC suggest that approximately 30% of jobs in the UK are threatened by automation from robotics and AI by 2030. This was deemed higher in particular sectors than others such as transport, wholesale, retail and manufacturing.

Professions deemed less likely to be threatened by machine learning included education, social work, and the healthcare sector. At the same time, it is impossible to say that any industry is immune from possible machine learning developments and AI.

However, one interesting aspect that PWC highlighted is that it is much more likely that simply the nature of the job will change, as opposed to disappearing altogether.

Machine learning aiding productivity?

Another thing to consider is that in some roles, machine learning and AI capabilities may allow people to be more productive in their roles, rather than hindering it.

For example, advanced technologies like natural language processing can streamline data mining through the application of algorithms to model topics. In areas such as customer service or insights, this can be highly beneficial, allowing a team to get on with implementing a strategy based on this information rather than having to spend large amounts of time data mining instead.

Machine learning can absolutely be a force for good in many professions, given that it can ensure that complicated tasks, such as those involving big data, are carried out with speed, and high levels of accuracy too. This can also allow workers to be far more creative and could aid innovation if machine learning can take care of a complicated, repetitive tasks, whilst employers can pursue their ideas they wouldn't have time to consider otherwise.

Filter by
Reset
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
News

Optalitix brings enhancements to underwriters to boost underwriting performance and growth

The introduction of Optalitix Quote’s new Flow technology enables flexible underwriting workflows thanks to the new Risk Vision dashboards. Learn more now.

Press Releases

Optalitix partners with Quantee to offer next generation underwriting and pricing

To offer insurers a ready-to-use pricing product that enables quick access to price retail customers online and via aggregators

Insurance

Why are Insurers playing a guessing game?

Numerous insurers overlook advanced solutions. Make sure your company leverages valuable insights from its data to enhance user experience with Optalitix today!

News

How Can AI Enhance Cybersecurity in Business?

Artificial intelligence (AI) is a machine’s ability to perform human-like cognitive functions. Find out how AI is able to enhance cybersecurity in business here.

Underwriting
Insurance

Underwriters – valued professionals acting as risk gatekeepers

What does an underwriter do on a daily basis? Discover the role underwriters play, how technology plays a key part in the underwriting process and more here.

News

Seasons Greetings from Optalitix

As the year draws to a close, we wanted to express our heartfelt gratitude for your continued support and collaboration.

News

Optalitix shortlisted for two awards

In the National Insurance Awards 2023 which showcases excellence in general insurance provision and management.

Case studies

Case study: Modernising and scaling Dale Underwriting Partners' underwriting process with Optalitix Quote

Optalitix Quote allows underwriters to keep their existing models and make changes and updates when required by providing speed and flexibility.

Case studies

How our catastrophe reporting portal helped Lloyd's of London collect more accurate data and save 1000's of hours

"The time that has been saved has given us much more freedom” Carey Bond, Head of Claims for the Americas at Lloyd’s

Insurance
8 ways that data can power your business

8 ways that data can power your business

Using your data better can help business managers see more, know more and do more. Take a look at beneficial data uses that businesses can adopt in this guide.

News

2023: A year of insurance disruption

The fluctuations in insurance news for 2023 are unexpected. Some companies are leaving following big losses, while others expect to see profits.

Case studies

Hampden Risk Partners implements Optalitix Quote as their underwriting workbench

Hampden Risk Partners used Optalitix Quote to grow their capacity at Lloyd's

News

Optalitix nominated as a finalist in the 2023 Insurance Times awards

Innovation award for Lloyd's reporting portal

News

The computable game - Part 1

Football stats and insights

Insurance

Why are Insurers playing a guessing game?

Numerous insurers overlook advanced solutions. Ensure your company leverages valuable insights from its data to enhance the user experience with Optalitix!