Venture capitalist: AI will displace 40 percent of world's jobs in as soon as 15 years - interview on 60 minutes this Sunday
Venture capitalist: AI will displace 40 percent of
world's jobs in as soon as 15 years
Kai Fu Lee, a pioneer in artificial intelligence and
venture capitalist based in China, tells 60 Minutes it won't just be blue
collar jobs that are displaced by AI. See the full story, Sunday at 7 p.m.
ET/PT on CBS
2019 Jan 09
In as soon as 15 years, 40 percent of the world's jobs
could be done by machines, according to one of the world's foremost experts on
artificial intelligence. Kai Fu Lee, a pioneer in AI and venture capitalist
based in China makes this prediction in a Scott Pelley report about AI on the
next edition of 60 Minutes, Sunday, Jan. 13 at 7 p.m., ET/PT on CBS.
"AI will increasingly replace repetitive jobs, not
just for blue-collar work, but a lot of white-collar work," says Lee.
"Chauffeurs, truck drivers, anyone who does driving for a living-- their
jobs will be disrupted more in the 15-25 year time frame," he tells
Pelley. "Many jobs that seem a little bit complex, chef, waiter, a lot of
things will become automated ... stores ... restaurants, and altogether in 15
years, that's going to displace about 40 percent of the jobs in the
world." When pressed by Pelley about 40 percent of jobs being displaced,
Lee says the jobs will be, "displaceable."
"I believe [AI] is going to change the world more
than anything in the history of mankind. More than electricity," says Lee.
One of the biggest changes will be in education. Lee is
financing companies that are installing AI systems in remote classrooms across
China to improve learning for students far from the country's growing cities.
The AI-system is being designed to gauge student interest and intelligence by
subject.
Could such artificial intelligence identify the geniuses
of the world? "That's possible in the future," says Lee. "It can
also create a student profile and know where the student got stuck so the
teacher can personalize the areas in which the student needs help."
Those students will be facing an uncertain future with 40
percent of the world's current jobs displaceable. "What does that do to
the fabric of society?" asks Pelley. "Well, in some sense, there is
the human wisdom that always overcomes these technological revolutions,"
Lee says. "The invention of the steam engine, the sewing machine, electricity,
have all displaced jobs. We've gotten over it. The challenge of AI is this 40
percent, whether it is 15 or 25 years, is coming faster than the previous
revolutions."
Pelley traveled to China for this story, where 70 percent
of the 1.4 billion Chinese use smartphones, often to make routine transactions
including fast food purchases, bike rentals and bill paying. The phone use
creates a torrent of data for China's tech companies. Lee explained that
endless supply of information is the rocket fuel for AI in China. "China clearly
has an advantage," says Lee of the potential to develop AI.
But the U.S. still enjoys a technological leadership that
will keep it competitive with the Chinese, at least for the near-future.
"The top prominent researchers are still mostly American, so I think it's
about 50/50 for the next five years," Lee tells Pelley.
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