The emergence of artificial intelligence (AI) is poised to become a defining force, potentially reshaping everything. Remember Kodak? Back i...
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| The emergence of artificial intelligence (AI) is poised to become a defining force, potentially reshaping everything. |
It wasn’t just Kodak. Many other major companies, even Microsoft, had to restructure, laying off staff and replacing traditional workflows with AI-driven processes. These changes weren’t because their products or services were inferior; they simply failed to adapt to the rapid pace of technological change.
Looking at the present, it’s hard to imagine just how much the world will transform in the next decade. Yet, experts predict that up to 90% of the jobs we know today may vanish within the next ten years, as we step into the era of the "Fourth Industrial Revolution."
Consider some of today’s most well-known companies. Uber, the world’s largest taxi company, doesn’t own a single car. Airbnb, the largest accommodation provider, owns no hotels. These businesses operate entirely on software and platforms, illustrating how industries are shifting away from physical assets and human labor to AI-powered systems.
In the legal field, young lawyers in America are finding it increasingly difficult to secure jobs because IBM’s Watson can now perform legal research and advocacy more efficiently than most human attorneys. Experts predict that within the next decade, only 10% of the workforce will have jobs, while the rest will be replaced by automation and AI.
Healthcare is experiencing a similar shift. Watson can diagnose cancers and other diseases with an accuracy four times higher than human doctors. As AI continues to advance, it's expected that machine intelligence will surpass human intelligence by 2030, transforming the way we approach healthcare and many other sectors.
The automotive industry is also on the verge of radical change. In 20 years, 90% of today’s cars will no longer be on the roads, replaced by electric or hybrid vehicles. Autonomous cars, summoned through services like Uber, will eliminate the need for car ownership. These driverless vehicles will reduce accidents by 99%, leading to the downfall of traditional car insurance companies. The disappearance of most vehicles from the roads will render traffic police and parking attendants obsolete.
If this sounds dramatic, consider the transformation we’ve already witnessed. Ten years ago, STD booths dotted the streets. With the mobile revolution, these booths became obsolete, forcing many to pivot to mobile recharge services. But even that industry is rapidly changing as more people opt to recharge their phones online. Today, physical stores mainly sell or repair phones, but even this role is slowly fading as online platforms dominate sales.
The concept of money is also evolving. We’ve already transitioned from cash to credit and debit cards, and now, the mobile wallet era is taking over. Platforms like Paytm are making financial transactions as simple as a tap on your phone.
The future belongs to those who can adapt to these changes. Those who fail to evolve will face the same fate as Kodak. In a world driven by AI and automation, the ability to innovate and embrace new technologies will be key to survival.