120 million workers will need to be retrained due to AI, says IBM study

  • “Artificial Intelligence is apparently ready to get to work. Over the next three years, as many as 120 million workers from the world’s 12 largest economies may need to be retrained because of advances in artificial intelligence and intelligent automation, according to a study released Friday by IBM’s Institute for Business Value.
  • One report earlier this year found that robots could replace humans in a quarter of US jobs by 2030.”

https://www.google.com/amp/s/www.cnet.com/google-amp/news/120-million-workers-will-need-to-be-retrained-because-of-ai-says-ibm/

IBM’s Bluewolf Announces Availability of Its AI for Connected Commerce

“’The combined intelligence of IBM and Salesforce can help transform the retail experience by harnessing insights across the entire enterprise, customer journey, and supply chain to deliver on customer expectations with scale, speed, and return,’ said Sandeep Singh, VP and Retail Industry Leader at IBM. ‘Through the strategic vision and partnership of both companies, we have developed a specific industry approach that can help transform the way our retail and consumer products clients engage with their customers through agile, cross-channel retailing and operational agility.'”

https://www.google.com/amp/s/www.martechadvisor.com/news/ecommerce/ibms-bluewolf-announces-availability-of-its-ai-for-connected-commerce/

AI is fuelling the new economics of banking, says UBank CEO

  • “For the past three years UBank has been experimenting with IBM and the Watson team
  • With around 220 staff in its North Sydney office, UBank can scale those solutions to serve its 500,000 customers.
  • The first project the bank launched back in 2017 was RoboChat, a virtual agent trained to answer questions around home loan applications.
  • As well as giving customers self service tools, the bank has built RoboBrain, launched in March 2018, to aid its customer service team.”

https://www.google.com/amp/s/which-50.com/ai-is-fuelling-the-new-economics-of-banking-says-ubank-ceo/amp/

IBM’s Artificial Intelligence Strategy Is Fantastic, But AI Also Cut 30% Of Its HR Workforce

    • “Today and under Rometty’s leadership, IBM headcount has dropped approximately 25%. There are now less than 350,000 people. How? In part, artificial intelligence.
    • I agree. Every role in the corporate hierarchy will in one way, shape or form be affected by the introduction of AI over time. She went on to say that job losses as a result of AI is a “red herring” and that we really shouldn’t “follow that logic all over the place.”
    • By example, IBM has reduced its global HR workforce by 30% through the introduction of AI into the company.
    • IBM’s talent strategy also involves the proactive retention of people. Its HR AI system accurately predicts 95% of the time if people might want to leave the company. “It has saved the company over $300 million,” said Rometty, specifically due to proactive retention practices.
    • According to Rometty, this new way of operating at IBM has delivered a 20% bump in employee engagement scores across the company.”

    https://www.google.com/amp/s/www.forbes.com/sites/danpontefract/2019/04/06/ibms-artificial-intelligence-strategy-is-fantastic-but-ai-also-cut-30-of-its-hr-workforce/amp/