CNBC is starting a new coverage focus on work that will include a digital special report on CNBC.com, segments on TV and conferences.
Dennis O’Brien of CNBC writes, “The transformation of work will have far-reaching consequences for employers and employees and, indeed, society as a whole. The promise of the so-called Fourth Industrial Revolution is greater productivity, better products and rapid innovation. The flip side is, of course, a fear that machines will replace, well, all of us.
“Increasingly, tasks normally handled by white-collar workers like lawyers are being handled far more efficiently and effectively by A.I. — according to AI News, a recent study showed A.I. trouncing experienced lawyers in reviewing contracts — the A.I. program took an average of 26 seconds to complete a task that it took lawyers an average of 92 minutes to do; A.I. was accurate 94 percent of the time, while the lawyers were accurate only 85 percent of the time. We in TV are not immune. IBM’s Watson has been taught to assemble video highlight reels from sporting events and analyze fashion trends from the red carpet of awards shows autonomously. Yeesh.
“Rapid technological advances have widened the skills gap, as evidenced by our recent story about AT&T retraining fully half of its workforce. Many companies just don’t have, and can’t find, the talent they need in a software- and mobile-centric environment. It also underscores the fact that the federal government’s efforts at retraining have been woefully inadequate and our colleges and universities aren’t turning out enough of the “right” kind of graduates to meet demand.”
Read more here.
