"Can AI do my job?"

I've been asked that question so many times, by so many people from all walks of life, from programmers to product managers, it got me thinking. While AI can't do my entire job (yet), there are places where it can help me with my work products, my company, and even help improve the quality of my life. Potentially, AI can also be very helpful in solving some of humanity's most difficult problems.

So the short answer to the question above, is yes.

For the last decade, my professional career has been dedicated to advancing the application of science, engineering and technology to improve the lives of human beings. This includes creating advanced risk analytics models using Artificial Intelligence (AI), Machine Learning (ML) and Natural Language Processing (NLP) to 'read' published scientific articles to understand which man made products and chemicals are potentially harmful to human beings.

I've also been teaching machines how to predict the future value of a diverse set of asset classes, from the highest valued art objects in the world, to stocks and bonds, to the latest popular kicks (yes, I'm a sneakerhead!)

Along the way I've learned a few things, some of which might surprise you. Humbly, I present here a few of my thoughts on recent reporting and the broader implications of the pending (r)evolution of AI.

Note: Of course I consulted with ChatGPT first :-), but at the end of the day I'm the one that needed to do the heavy lifting. It's called thinking.

OVERVIEW

Artificial Intelligence (AI) has the potential to profoundly transform the world across a vast array of domains and industries. Its impact is already being felt in many areas, and its continued development promises to bring about significant changes in the future.

In some ways it's power is unimaginable. As is the power of human thought and creativity. And we are just scratching the surface of what is possible for all of us.

"DON'T BELIEVE THE HYPE" - CHUCK D

Most claims I read in the general press, on social media, and on the internet - are wildly exaggerated. They are often written by people with specifics agendas, little scientific or technical training, usually trying to sell you something, clicking on something, and in doing so - making them money. Big tech, tech bros and the financial news are the worst.

They perpetuate the myth that 'their AI' technology will help business eliminate all the jobs - just pay them instead!

Creating AI, deploying Large Language Models (LLM), and developing ML algorithms is harder than most people think. And much more expensive than they realize. And it is not without risk. One of my favorite cautionary tales comes from the land of housing - via Zillow.

A few years ago, Zillow decided that with their enormous and proprietary data set on housing that they could use AI to accurately predict home prices in the housing market. So they decided, let's flip houses! People are doing it and getting rich, we can too! They raised a lot of capital, and let AI loose to buy and sell houses. But a funny thing happened on the way to the bank... These geniuses waited until they lost almost a billion dollars before they pulled the plug!

Advances in technology do come, and sometimes they come rapid fire. But the broader application of it takes longer than people think. Human being tend to overestimate what can be done in the short term, and underestimate what can be done over longer periods of time. Same is true with AI. Nirvana or the Zombie apocalypse are farther away than one might think based on media reports.

3 KEY AREAS OF ENORMOUS POTENTIAL

AI has the potential to significantly benefit humanity in various ways across numerous industries and aspects of life. Here are some of the ways where I see that AI can help make the world a better place:

Healthcare: AI can analyze vast amounts of medical data to identify patterns, enhance medical diagnosis, drug discovery, and personalized treatment plans. This can lead to better healthcare outcomes and potentially reduce healthcare costs.

• Disease Diagnosis: AI can assist doctors in diagnosing diseases more accurately and quickly by analyzing medical images and patient data.
• Drug Discovery: AI can speed up the drug discovery process by predicting potential drug candidates and simulating their effects.
• Personalized Medicine: AI can tailor treatment plans to individual patients based on their genetics and health records.

Education: AI has the potential to significantly transform education in various ways, making learning more personalized, efficient, and accessible. Here are some of the ways AI can help with education:

• Personalized Learning: AI-powered educational platforms can adapt to individual students' needs, providing customized learning experiences.
• Tutoring and Support: AI chatbots and virtual tutors can offer assistance to students, answering questions and providing explanations.

Automation and Labor Market: AI and automation technologies have the potential to automate routine and repetitive tasks across industries. While this may lead to concerns about job displacement, it can also free up human workers to focus on more creative, strategic, and higher-value tasks.

• Job Creation: While AI may displace some jobs, it can also create new ones. As AI technology advances, there is a growing demand for AI-related roles, including data scientists, machine learning engineers, AI ethicists, and AI trainers.
• Enhanced Productivity: AI-driven automation can boost productivity in various industries by streamlining processes, reducing errors, and speeding up tasks. This can lead to increased economic growth and potentially more job opportunities.
• Remote Work and Flexibility: AI can enable remote work and flexible work arrangements by automating tasks that were traditionally location-dependent. This can change the dynamics of the labor market by expanding the talent pool and providing opportunities for those in remote or underserved areas.
• Income Inequality: The impact of AI on the labor market may exacerbate income inequality. Highly skilled workers in AI-related fields may experience wage growth, while low-skilled workers in automatable jobs may face stagnant wages or job loss.
• Economic Transformation: AI-driven automation can lead to shifts in the types of industries that dominate the economy. Emerging fields like AI, renewable energy, and biotechnology may become more prominent, while traditional sectors may decline.
• Ethical and Social Considerations: As AI becomes more integrated into the workforce, there are ethical concerns about data privacy, bias in AI algorithms, and the impact of automation on society. These issues may influence public policy and regulations.

SUMMARY

AI has the potential to significantly impact almost all aspects of life, creating both new opportunities and challenges. How these effects play out will depend on a myriad of factors, including government policies, technological advancements, and the readiness of individuals and industries to adapt to AI-driven changes.

At the same time, each one of these areas is an opportunity for those of us in these fields to learn and explore and improve our own abilities by utilizing and embracing AI. While it's true we all can't be advanced Machine Learning Engineers, we can be good and prudent students acting in the best interest of our constituents. Science rules!

All the best, Joseph

PS As always, comments, critiques or suggestion are welcomed and encouraged!

HELPFUL LINKS

Great AI Prompts for Chat GPT

ChatGPT

DALL-E

Geeks for Geeks - ML Tutorial