Automation technology can both augment and replace human activities. A McKinsey study finds that 45% of work activities could be automated using already demonstrated technology. In the United States, these activities represent about $2 trillion in annual wages. Add natural language processing technology and this figures jumps to 58%.
What’s new and exciting are the possibilities from combining automation tech with artificial intelligence. Applying AI expands the use case universe beyond simple repetition and rules-based applications .
It took a decade for the Internet to transform the retail and travel industries. It’s a good bet that AI and process automation will keep that pace.
The McKinsey study expands on
1. The automation of activities
2. The redefinition of jobs and business processes
3. The impact on high-wage occupations
4. The future of creativity and meaning