While there is a desire to build better AI machines, there is also a fear that if machines become smarter and more efficient than humans, they might take over us humans, which seems to be the case in Japan.
During the beginning days of AI research, people were worried that machines would take over jobs, especially those in the production industry. However, as AI becomes more sophisticated, it seems like even salespeople and other white collar jobs aren't safe as well. In fact, a Japanese insurance firm has already chopped off 34 of its human employees and replace them with IBM's AI - Watson Explorer.
The Japanese insurance firm Fukoku Mutual Life Insurance said that it will be able to save $1.1 million annually after it replaces its 34 salaried human employees with the Watson Explorer, which costs $1.7 million to install and $128,000 per annum in maintenance.
The AI will take over sorting and scanning hospital records of those who are filing claims and determine how much the payout will be. Officials of the insurance company said that by automating these tasks, it will be much faster to process the final payout.
Some US companies are also using the software in their customer service. One of the biggest benefits they have from the AI is its ability to detect and understand customer voice when they become frustrated.
According to the Harvard Business Review, more knowledge jobs will soon be automated because most of the tasks involved in these types of jobs can be translated into code based on clearly formatted data.
According to reports, three more Japanese insurance firms are following suit and are testing the AI system. Meanwhile, an Israeli insurance company is also raising money to replace its human brokers and other employees with bots and AI machines.
