Fukoku Mutual Life Insurance Co. is planning to slash nearly 30 percent of its payment assessment department's human staff after it introduces an artificial intelligence (AI) system in January 2017 to improve operating efficiency.And relatedly, easily the most terrifying news of the year:
While concrete examples of AI systems making human workers redundant are currently rare, observers have pointed out that such cases are likely to increase.
The insurance firm will introduce an AI system based on IBM Japan Ltd.'s Watson, which according to IBM is a "cognitive technology that can think like a human," and "can analyze and interpret all of your data, including unstructured text, images, audio and video." The Watson-based system will be tasked with reading medical certificates written by doctors and other documents to collect information necessary for making payouts, such as medical histories, length of hospital stays, and surgical procedure names....MORE
"Equity Analysts Join the Gig Economy"
I suppose the fear factor depends on your perspective though.
As noted last June:
In yesterday's "Questions America Wants Answered: How Will Brexit Affect The Art Market?" I amused myself with the provincialism of the headline question, somewhat akin to the old joke about the small Italian town that sent its most esteemed resident, a tailor by trade, to represent said villaggio at an audience with the Pope. Upon his return from Rome the citizens crowded around and asked "What kind of man is Il Papa?
Their emissary replied, "About a 42 regular"....
