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How can business professionals succeed in a future with AI

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Semir Jahic
Semir Jahic

This is the slide deck of a talk given at UCL (University College London) in December 2017. The aim of the talk is to give a very simple overview of AI and its potential future impact on business professionals with a non-technical background.

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How can business professionals succeed in a future with AI Semir Jahic MSc Technology Management, UCL linkedin.com/in/jahic semir@union4digital.com 05. December 2017 University College London (UCL), Innovation Practices Guest Lecture Fall 2017
How can business professionals succeed in a future with AI
“AI is the new electricity” Andrew Ng, AI Pioneer “1 in 2 jobs could be automated” Oxford Research Study (2013)
Objective: Understand how YOU as a young business graduate can succeed in a future with AI
Impact of AI for Future Business Professionals Outline 1. What is AI? 2. How does it work? 3. Why now? 4. Where is AI going? 5. What does it mean for me? 6. Q&A and Career Debriefing
Impact of AI for Future Business Professionals What is AI NOT?
Impact of AI for Future Business Professionals What is AI? Other terms you will hear people throwing around when talking about AI: ● Machine Learning (ML) ● Deep Learning ● Reinforcement Learning ● Machine Intelligence ● Robot Automation ● Machine Algorithms ● Neural Networks
Impact of AI for Future Business Professionals So, what the heck is AI?
Impact of AI for Future Business Professionals One Easy Example 1. You take data points. E.g. house sizes and prices 2. You find a line that is well-aligned to the points 3. Based on the line, new house sizes can be placed on the right spot giving you a price for a house In everyday-people terms, that is all what Machine Learning does. The difference is, it not only uses two aspects (size and price) but uses dozens or hundreds. It then uses algorithms to find the best “line” to make predictions and automate processes. House size House price
Impact of AI for Future Business Professionals How does it work? Input Data, Learn and Produce an Output Feature Extraction, Modelling and Training Prediction Data Input Machine Learning Training Output
Impact of AI for Future Business Professionals Automation - We’ve seen it before First ATM in London - June 1967Elevator operatorsWeaving industry in the 1800s
Impact of AI for Future Business Professionals Why is the AI revolution different? AI will impact us all, also White Collar jobs Radiologists Auditors Journalists
Quote AI, and technology in general, allow us to do much more with much less. There are many fields in which AI still has a lot to influence. Look for opportunities of improvement and change in your company. Then be the one to bring that change. Software Engineer, Real Estate Startup, MSc Computer Science, ETH Zurich
Key Takeaway #1 Job replacements due to AI are more fundamental than by previous technologies
Impact of AI for Future Business Professionals Why now? Trends and Innovation Triggers “AI will be the most disruptive class of technologies over the next 10 years; these will enable organizations with AI technologies to harness data in order to adapt to new situations and solve problems that no one has ever encountered previously.” - Gartner Research Technologies are all growing up at the same time! Gartner Hype Cycle for Emerging Technologies, 2017 Source: Gartner
Impact of AI for Future Business Professionals Why now? Technology Data Models Have been around for some time e.g. Deep Learning from the 1940s. They were too slow, inefficient and there was not enough data. Processing Power Processors, the brains of computers, have become faster every year (Moore’s Law) and can now process the data. Big Data Everything can and is being measured, stored and processed. This collected data from social networks, the internet, devices (internet of things) is aggregated and ready to be used. Source: Salesforce
Impact of AI for Future Business Professionals Why now? Investment and M&A Venture Capital funding is strong for AI-based startups because this technology can fundamentally impact every industry and has great potential to create new services and products. “It has been estimated that AI could add an additional USD $814 billion (£630bn) to the UK economy by 2035” (UK Government Report, 2017)
Impact of AI for Future Business Professionals Why now? Investment and M&A ● Large corporations are very active in acquiring AI technology and AI talent (Acquihiring) ● Internal R&D for Google and Baidu exceed £20bn ● Data is hard to get and a crucial element to create great AI products. The big players get bigger Source: CB Insights
Impact of AI for Future Business Professionals Why now? Investment - Where does it go? All of these fields are very young and most investment goes to Machine Learning based applications. Source: McKinsey
Quote Advancements in AI will allow us to develop products and services that will change the way we interact with the world and among ourselves. They will enhance our productivity and create completely new markets. We all need to be ready for this. Software Engineer, Large Tech Company, MSc Computer Science, Columbia University
Key Takeaway #2 AI is an opportunity which should be embraced and used to create a better world
Impact of AI for Future Business Professionals Where are we going? Jobs for machines, jobs for people... Characteristics of jobs susceptible to automation ● Highly predictive environment (e.g. Auditor) ● Repetitive (e.g. Machinist) ● Structured tasks (e.g. Financial Analyst) Characteristics of jobs less susceptible to automation ● Interactive, dynamic environment (e.g. Dentist) ● Unpredictable human interaction (e.g. Nurse, Manager) Note: Susceptibility to automation shows no correlation with educational attainment Source: Economist
Key Takeaway #3 Repetitive, predictable activities will be automated in all professions. Focus on the parts of your job where tasks are unpredictable and dynamic to add value and succeed.
Impact of AI for Future Business Professionals What does this mean for Your career? How to spot a great AI opportunity for non-Statisticians Ask yourself what outcomes is it worth guessing (remember the housing prices example) Do you have example data in your organisation to train a machine learning model and start predicting? Ask yourself, if it were automated, how would it help customers or internal users (saved time, higher productivity) 1 2 3
Quote We are in the beginning of the AI revolution, there will be two kind of professionals: the ones that will understand AI and how to apply it to their jobs, and the ones that will be completely replaced by AIs. For those that don't want to be part of the second group, my advice is to research and be up to date with AI applications in your industry. José Vicente, Founder & CTO Relendo, MSc Computer Science, Columbia University
Key Takeaway #4 Understand AI from a business perspective and start to look for opportunities to become a thought-leader in your company
Impact of AI for Future Business Professionals Case Studies of Customer Service Entrepreneurship and Intrapreneurship in Real Life - AI Augmentation Sentient Machines (sentientmachines.tech) Understanding emotions using call centre data to help predict what causes frustration Salesforce Einstein (www.salesforce.com) Predicting who will click what kind of email and how long it takes to solve a customer issue
Impact of AI for Future Business Professionals Case Studies of Customer Service Entrepreneurship and Intrapreneurship in Real Life - AI Augmentation Salesforce Einstein Be an Intrapreneur to build a new product on top of a great platform which uses the latest technology Salesforce Customers Realise the potential of using all your customer data to better service them and better understand customer needs from R&D up to the Sales people Sentient Machines Become an Entrepreneur if you find a great opportunity Sentient Machines Customers Intrapreneurs, who have realised that they can use their call centre data to analyse and predict outcome and improve their business and augment customer service representatives
Quote AI is likely to change as many areas of life as other enabling technologies before it (motor, electricity, internet). Therefore, understanding how it works and what it likely will and won't be able to do is important. One concern that I share, though, is, that too much concentration of AI capabilities within a few private actors could pose a problem: AI is powerful and concentration of power is dangerous. Lorenz Fischer, Founder & CTO, Sentient Machines, PhD Computer Science, University of Zurich
Impact of AI for Future Business Professionals With Great Power Comes Great Responsibility Bias, Manipulation and Surveillance
Key Takeaway #5 AI is a powerful technology which needs to be used responsibly and ethically
Summary of Key Takeaways 1. Job replacements due to AI are fundamental 2. AI is an opportunity which should be embraced 3. Repetitive tasks will be automated, focus on real added value 4. Understand AI and start to look for opportunities 5. AI needs to be used responsibly and ethically
Resources Coursera Machine Learning course by Andrew Ng Book: The Second Machine Age TED Talk Playlist on AI
Sources ● Oxford Future of Employment Study (2013), https://www.oxfordmartin.ox.ac.uk/downloads/academic/The_Future_of_Employment.pdf ● Andrew Ng, https://www.oreilly.com/ideas/ai-is-the-new-electricity ● Simple examples, https://medium.com/simple-ai/linear-regression-intro-to-machine-learning-6-6e320dbdaf06 ● Gartner Hype Cycle, https://www.gartner.com/newsroom/id/3784363 ● AI technology image, https://trailhead.salesforce.com/modules/ai_basics/units/ai_basics_getstarted ● AI startup investments, https://www.cbinsights.com/research/top-acquirers-ai-startups-ma-timeline/ ● FT Investment in AI, https://www.ft.com/content/856753d6-8d31-11e7-a352-e46f43c5825d ● UK Government Report on AI, https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/652097/Growing_the_artificial_intelligence_ industry_in_the_UK.pdf ● McKinsey AI report, https://www.mckinsey.com/mgi/overview ● Economist catalogue of fears, https://www.economist.com/news/special-report/21700758-will-smarter-machines-cause-mass-unemployment-automation- and-anxiety ● McKinsey job replacement, https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/where-machines-could-replace-humans-and-w here-they-cant-yet ● HBR - How to spot an AI opportunity, https://hbr.org/2017/10/how-to-spot-a-machine-learning-opportunity-even-if-you-arent-a-data-scientist ● Wired Big Data Meets Big Brother, http://www.wired.co.uk/article/chinese-government-social-credit-score-privacy-invasion
Image Sources ● https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/HAL9000.svg/1200px-HAL9000.svg.png ● https://s3media.247sports.com/Uploads/Assets/342/613/5613342.jpg ● http://vignette2.wikia.nocookie.net/powerlisting/images/b/bd/Neo_The_One.jpg/revision/latest?cb=20131018055648 ● https://d15shllkswkct0.cloudfront.net/wp-content/blogs.dir/1/files/2013/12/robot_army.jpg ● https://en.oxforddictionaries.com/definition/artificial_intelligence ● https://fortunedotcom.files.wordpress.com/2016/03/492682174.jpg ● https://galaxyis.com/wp-content/uploads/2017/07/Siri-app.jpg ● http://s3files.core77.com/blog/images/549466_81_58982_URtPCkWCG.jpg ● https://upload.wikimedia.org/wikipedia/en/2/2a/RegVarneyATM.jpg ● http://2.bp.blogspot.com/-KKVISRr3LDc/UTdWQ_fNefI/AAAAAAAAQrE/cgLzhYENj6w/s1600/Harold+Blackman%252C+eleva tor+operator+Baker+Bldg%252C+1913.JPG ● Various images from: https://unsplash.com/

More Related Content

How can business professionals succeed in a future with AI

  • 1. How can business professionals succeed in a future with AI Semir Jahic MSc Technology Management, UCL linkedin.com/in/jahic semir@union4digital.com 05. December 2017 University College London (UCL), Innovation Practices Guest Lecture Fall 2017
  • 3. “AI is the new electricity” Andrew Ng, AI Pioneer “1 in 2 jobs could be automated” Oxford Research Study (2013)
  • 4. Objective: Understand how YOU as a young business graduate can succeed in a future with AI
  • 5. Impact of AI for Future Business Professionals Outline 1. What is AI? 2. How does it work? 3. Why now? 4. Where is AI going? 5. What does it mean for me? 6. Q&A and Career Debriefing
  • 6. Impact of AI for Future Business Professionals What is AI NOT?
  • 7. Impact of AI for Future Business Professionals What is AI? Other terms you will hear people throwing around when talking about AI: ● Machine Learning (ML) ● Deep Learning ● Reinforcement Learning ● Machine Intelligence ● Robot Automation ● Machine Algorithms ● Neural Networks
  • 8. Impact of AI for Future Business Professionals So, what the heck is AI?
  • 9. Impact of AI for Future Business Professionals One Easy Example 1. You take data points. E.g. house sizes and prices 2. You find a line that is well-aligned to the points 3. Based on the line, new house sizes can be placed on the right spot giving you a price for a house In everyday-people terms, that is all what Machine Learning does. The difference is, it not only uses two aspects (size and price) but uses dozens or hundreds. It then uses algorithms to find the best “line” to make predictions and automate processes. House size House price
  • 10. Impact of AI for Future Business Professionals How does it work? Input Data, Learn and Produce an Output Feature Extraction, Modelling and Training Prediction Data Input Machine Learning Training Output
  • 11. Impact of AI for Future Business Professionals Automation - We’ve seen it before First ATM in London - June 1967Elevator operatorsWeaving industry in the 1800s
  • 12. Impact of AI for Future Business Professionals Why is the AI revolution different? AI will impact us all, also White Collar jobs Radiologists Auditors Journalists
  • 13. Quote AI, and technology in general, allow us to do much more with much less. There are many fields in which AI still has a lot to influence. Look for opportunities of improvement and change in your company. Then be the one to bring that change. Software Engineer, Real Estate Startup, MSc Computer Science, ETH Zurich
  • 14. Key Takeaway #1 Job replacements due to AI are more fundamental than by previous technologies
  • 15. Impact of AI for Future Business Professionals Why now? Trends and Innovation Triggers “AI will be the most disruptive class of technologies over the next 10 years; these will enable organizations with AI technologies to harness data in order to adapt to new situations and solve problems that no one has ever encountered previously.” - Gartner Research Technologies are all growing up at the same time! Gartner Hype Cycle for Emerging Technologies, 2017 Source: Gartner
  • 16. Impact of AI for Future Business Professionals Why now? Technology Data Models Have been around for some time e.g. Deep Learning from the 1940s. They were too slow, inefficient and there was not enough data. Processing Power Processors, the brains of computers, have become faster every year (Moore’s Law) and can now process the data. Big Data Everything can and is being measured, stored and processed. This collected data from social networks, the internet, devices (internet of things) is aggregated and ready to be used. Source: Salesforce
  • 17. Impact of AI for Future Business Professionals Why now? Investment and M&A Venture Capital funding is strong for AI-based startups because this technology can fundamentally impact every industry and has great potential to create new services and products. “It has been estimated that AI could add an additional USD $814 billion (£630bn) to the UK economy by 2035” (UK Government Report, 2017)
  • 18. Impact of AI for Future Business Professionals Why now? Investment and M&A ● Large corporations are very active in acquiring AI technology and AI talent (Acquihiring) ● Internal R&D for Google and Baidu exceed £20bn ● Data is hard to get and a crucial element to create great AI products. The big players get bigger Source: CB Insights
  • 19. Impact of AI for Future Business Professionals Why now? Investment - Where does it go? All of these fields are very young and most investment goes to Machine Learning based applications. Source: McKinsey
  • 20. Quote Advancements in AI will allow us to develop products and services that will change the way we interact with the world and among ourselves. They will enhance our productivity and create completely new markets. We all need to be ready for this. Software Engineer, Large Tech Company, MSc Computer Science, Columbia University
  • 21. Key Takeaway #2 AI is an opportunity which should be embraced and used to create a better world
  • 22. Impact of AI for Future Business Professionals Where are we going? Jobs for machines, jobs for people... Characteristics of jobs susceptible to automation ● Highly predictive environment (e.g. Auditor) ● Repetitive (e.g. Machinist) ● Structured tasks (e.g. Financial Analyst) Characteristics of jobs less susceptible to automation ● Interactive, dynamic environment (e.g. Dentist) ● Unpredictable human interaction (e.g. Nurse, Manager) Note: Susceptibility to automation shows no correlation with educational attainment Source: Economist
  • 23. Key Takeaway #3 Repetitive, predictable activities will be automated in all professions. Focus on the parts of your job where tasks are unpredictable and dynamic to add value and succeed.
  • 24. Impact of AI for Future Business Professionals What does this mean for Your career? How to spot a great AI opportunity for non-Statisticians Ask yourself what outcomes is it worth guessing (remember the housing prices example) Do you have example data in your organisation to train a machine learning model and start predicting? Ask yourself, if it were automated, how would it help customers or internal users (saved time, higher productivity) 1 2 3
  • 25. Quote We are in the beginning of the AI revolution, there will be two kind of professionals: the ones that will understand AI and how to apply it to their jobs, and the ones that will be completely replaced by AIs. For those that don't want to be part of the second group, my advice is to research and be up to date with AI applications in your industry. José Vicente, Founder & CTO Relendo, MSc Computer Science, Columbia University
  • 26. Key Takeaway #4 Understand AI from a business perspective and start to look for opportunities to become a thought-leader in your company
  • 27. Impact of AI for Future Business Professionals Case Studies of Customer Service Entrepreneurship and Intrapreneurship in Real Life - AI Augmentation Sentient Machines (sentientmachines.tech) Understanding emotions using call centre data to help predict what causes frustration Salesforce Einstein (www.salesforce.com) Predicting who will click what kind of email and how long it takes to solve a customer issue
  • 28. Impact of AI for Future Business Professionals Case Studies of Customer Service Entrepreneurship and Intrapreneurship in Real Life - AI Augmentation Salesforce Einstein Be an Intrapreneur to build a new product on top of a great platform which uses the latest technology Salesforce Customers Realise the potential of using all your customer data to better service them and better understand customer needs from R&D up to the Sales people Sentient Machines Become an Entrepreneur if you find a great opportunity Sentient Machines Customers Intrapreneurs, who have realised that they can use their call centre data to analyse and predict outcome and improve their business and augment customer service representatives
  • 29. Quote AI is likely to change as many areas of life as other enabling technologies before it (motor, electricity, internet). Therefore, understanding how it works and what it likely will and won't be able to do is important. One concern that I share, though, is, that too much concentration of AI capabilities within a few private actors could pose a problem: AI is powerful and concentration of power is dangerous. Lorenz Fischer, Founder & CTO, Sentient Machines, PhD Computer Science, University of Zurich
  • 30. Impact of AI for Future Business Professionals With Great Power Comes Great Responsibility Bias, Manipulation and Surveillance
  • 31. Key Takeaway #5 AI is a powerful technology which needs to be used responsibly and ethically
  • 32. Summary of Key Takeaways 1. Job replacements due to AI are fundamental 2. AI is an opportunity which should be embraced 3. Repetitive tasks will be automated, focus on real added value 4. Understand AI and start to look for opportunities 5. AI needs to be used responsibly and ethically
  • 33. Resources Coursera Machine Learning course by Andrew Ng Book: The Second Machine Age TED Talk Playlist on AI
  • 34. Sources ● Oxford Future of Employment Study (2013), https://www.oxfordmartin.ox.ac.uk/downloads/academic/The_Future_of_Employment.pdf ● Andrew Ng, https://www.oreilly.com/ideas/ai-is-the-new-electricity ● Simple examples, https://medium.com/simple-ai/linear-regression-intro-to-machine-learning-6-6e320dbdaf06 ● Gartner Hype Cycle, https://www.gartner.com/newsroom/id/3784363 ● AI technology image, https://trailhead.salesforce.com/modules/ai_basics/units/ai_basics_getstarted ● AI startup investments, https://www.cbinsights.com/research/top-acquirers-ai-startups-ma-timeline/ ● FT Investment in AI, https://www.ft.com/content/856753d6-8d31-11e7-a352-e46f43c5825d ● UK Government Report on AI, https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/652097/Growing_the_artificial_intelligence_ industry_in_the_UK.pdf ● McKinsey AI report, https://www.mckinsey.com/mgi/overview ● Economist catalogue of fears, https://www.economist.com/news/special-report/21700758-will-smarter-machines-cause-mass-unemployment-automation- and-anxiety ● McKinsey job replacement, https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/where-machines-could-replace-humans-and-w here-they-cant-yet ● HBR - How to spot an AI opportunity, https://hbr.org/2017/10/how-to-spot-a-machine-learning-opportunity-even-if-you-arent-a-data-scientist ● Wired Big Data Meets Big Brother, http://www.wired.co.uk/article/chinese-government-social-credit-score-privacy-invasion
  • 35. Image Sources ● https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/HAL9000.svg/1200px-HAL9000.svg.png ● https://s3media.247sports.com/Uploads/Assets/342/613/5613342.jpg ● http://vignette2.wikia.nocookie.net/powerlisting/images/b/bd/Neo_The_One.jpg/revision/latest?cb=20131018055648 ● https://d15shllkswkct0.cloudfront.net/wp-content/blogs.dir/1/files/2013/12/robot_army.jpg ● https://en.oxforddictionaries.com/definition/artificial_intelligence ● https://fortunedotcom.files.wordpress.com/2016/03/492682174.jpg ● https://galaxyis.com/wp-content/uploads/2017/07/Siri-app.jpg ● http://s3files.core77.com/blog/images/549466_81_58982_URtPCkWCG.jpg ● https://upload.wikimedia.org/wikipedia/en/2/2a/RegVarneyATM.jpg ● http://2.bp.blogspot.com/-KKVISRr3LDc/UTdWQ_fNefI/AAAAAAAAQrE/cgLzhYENj6w/s1600/Harold+Blackman%252C+eleva tor+operator+Baker+Bldg%252C+1913.JPG ● Various images from: https://unsplash.com/