As artificial intelligence advances by leaps andbounds, one of the prominent questions in insurance and otherindustries is: Will bots take over my job?

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AI revolution

The fear of an AI revolution is growing and is real. Numerousstudies predict that certain professions will be gone in a decade,and many other workers will be replaced by software in the form ofchatbots or other AI-based systems.

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Related: The 3 pillars of AI value add forclaims

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When I am asked this question, I offer threeresponses — no — maybe — and yes. I saythat because it depends on the type of job and on thetimeframe.

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There are already jobs that have been taken over by bots (whichmay be actual, physical robots, virtual assistants, or automated decisioningsystems). Today, there are robots in a new bar in Las Vegas thatserve drinks and dinosaur-themed robots to check in guests at ahotel in Japan. There are robot bricklayers and robotsthat do janitorial work in factories.

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Automate tasks

But many of the bots that offer promise for insurers (and causeconcern for employees) are the virtual kind, chatbots and virtual assistants for sales advice orcustomer service inquiries, robotic process applications thatautomate tasks like data entry, or sophisticated machine learning algorithms thatmake decisions that previously required a human expert.

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A great debate is underway in society right now about theimplications of AI and the workforce, with some people alreadyjumping to the conclusion that there will be massive job loss andgovernments will need to provide a universal basic income. Thepoliticians can debate that.

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Improve efficiencies, enhance customer experiences

But in the meantime, I believe we are a long way away frommassive job loss. Instead, there will be increasing opportunitiesfor AI and bots to augment human workers and professionals, improveefficiencies and enhance customer experiences.

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So, yes — bots are already taking over some jobs. No —there are some jobs that require so much human judgement, intuitionand empathy that it will be a very long time (if ever) before AIcould take over. And maybe — there are many jobs that willbe impacted by AI over the next decade and longer, and it may ormay not cause job displacement.

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Related: Study identifies the insurance industry as an AIleader

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Mark Breading is a partner atBoston-based SMA. Emailhim at [email protected]. This article firstappeared on StrategyMeetsAction.com, and isreprinted here with their permission. Opinions expressed in thisarticle are the author's own.

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