As someone who has worked in the IT and Finance industries for a long time it's my humble opinion that most of the touted benefits of AI are illusory and overestimated. Let's look at some examples:
Mortgage application assessments: The rules to do this are basic and the tech/rules to automate this (to a level) could have been achieved for decades. What's AI gonna do? Middle management/automated decision making: Much of current middle management is there to create a buffer for senior management accountability. All those consultants? Same same. The pattern I see repeated in industry is skilled decision makers being replaced by consultants, mates and time servers. What's AI gonna do? IT: Maybe some coders will be replaced but that's not where the work is. It's in defining what is needed to deliver real benefits. Scope, requirements. You reckon AI is going to solve the integration and testing of 2 companies' systems? With security? You think it's going to create build pipelines to improve IT engineers productivity? Is AI going to eliminate the huge blowouts in projects such as BOM and seemingly every defence project? Is AI more likely to eliminate disgraceful situations like Robodebt or create them?
If AI is such a productivity aid then how come all these IT companies who are "leaders in their field" are spending more and increasing their costs? Shouldn't they be the first to manifest the benefits with a reduction in headcounts? Is that what's happening?
It will have some benefits but any suggestion it's going to lead to wholesale decimation of jobs is complete fantasy imho.
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