Intersection of policy, technology and law will be the future from now
View(s):While technology has become so profound that it makes the world a computer, by 2020 everything will become connected. Intersection of policy, technology and law is what the world needs to look at in the future, says Jasmine Begum, Director Legal, Corporate and Government Affairs, Microsoft ASEAN and New Markets.
Ms. Begum made this remark delivering her keynote address at the ‘Future of Business’ event organised by the Ceylon Chamber of Commerce at the Galle Face Hotel in Colombo last week. The theme of this year’s event which kicked off for the third consecutive year was ‘Reimagining the Future of Work.’
She said, in Malaysia everything the government talks about is about the digital economy and 50 per cent of the economy is contributed by the digital economy. Indonesia wants to make it to 60 per cent by 2020. The world has moved from cloud, Internet of things (IoT), edge to artificial intelligence (AI).
AI will have a big economic impact and AI and advanced analytics represent a growing opportunity around the world. The global business value derived from AI in 2022 will reach US$3.9 trillion from $1.9 trillion this year, added Ms. Begum.
She stressed, “Are we allowing free flow of information? You need insight for your data and respond to the market quickly.”
“What will AI mean for jobs and the economy? 50 per cent of jobs today require technical skills whereas in another 10 years 77 per cent of jobs will require the same technical skills,” she noted.
She also mentioned that there are two types of jobs in the future, people who tell computers what to do and people who are told what to do by computers. Skills you need for the future of jobs is to look at the underlying factor, vast data and huge computational power. Governments are struggling with the policies when technology keeps advancing from one end to another within a short span of time.
The three macro trends in AI are AI and automation, jobs will evolve and there would be a skills shortage. In AI and automation the machine task hours is projected to increase from 29 per cent in 2018 to 42 per cent by 2022. AI will create jobs such as visual space designers, biohackers, trainers for autonomous cars, IoT data analyst and so on. Disciplines required to make AI work well are computer science, data science and ethics. Six principles for ethical AI are fairness, reliability and safety, privacy and security, inclusion, transparency and accountability, she noted.