9/25/2023 0 Comments Will ai replace transcription jobs![]() German publisher Axel Springer announced in February plans to transition into “digital only,” which includes job cuts in favor of “modern technology” and automation. Media and marketing: Kristian Hammond, chief scientist of Natural Sciences told the BBC in 15 years, “90% of news will be written by machines.” Natural Sciences has a software called Quill, an AI paraphrasing tool that writes company reports ahead of earning announcements.The World Economic Forum also predicts AI will bring three changes to the finance division: job cuts, job creation and increased efficiency. In addition, they estimate by 2027, 23% of jobs in China’s financial sector will be replaced by AI. Morgan Stanley has begun using OpenAI-powered chatbots to organize its wealth management database, helping advisers pull up data and research more efficiently. Abhijit Bose, a Capital One senior vice president, told the Washington Post AI will potentially “monitor transactions” to give detailed financial advice on saving and spending. 56% of banks claim they’ve implemented the technology into their business domains like management, and 52% claim they’ve used it for revenue generation, according to Cambridge Centre for Alternative Finance and the World Economic Forum. Finance and banking: Banks have already begun incorporating AI into their business models. ![]() ![]() ![]() Generative AI isn’t perfect, both OpenAI and Google admit their program sometimes gives incorrect responses and has other flaws, like ChatGPT’s knowledge base that ends in 2021, and Bard’s limited conversation retention. ![]()
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