Japanese Insurance company replaces workers with AI - IBM Watson

Bamabuzzard

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Being an accountant and serving in different roles within the accounting spectrum (Controller, Accounting Manager, Sr. Accountant, Staff Accountant etc.).This topic of conversation has started to pop up more and more in my field. The more staff under me that gets cut out. The less valuable I become. Currently I've got six accountants, three A/P clerks and one fixed asset clerk who directly report to me. A lot of my work is review, analysis, and approvals. I could see many facets AI could replace the staff I have now. The only thing is in accounting/audit/financial world etc. People reviewing, approving and auditing their own work is highly, highly frowned upon. Will corporations be comfortable with one entity like "WATSON" having that much overlap with accounting functions, approval processes etc.? Will independent regulators? Will it impact GAAP, GAAS etc.? All questions that will have to be addressed as this gets closer to a reality in my field.
 
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2003TIDE

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Jon, you've been on this longer than anyone I know (you turned me onto this a couple of years ago) - what future do you see when 30% (or more) of all jobs go way permanently? I can't envision a solution...
Probably going to be the biggest problem to solve in the next 100yrs. We may already be close to that 30% number lost due to automation. Every cries about all the "jobs" lost overseas, but US manufacturing output is at an all time high.
 

chanson78

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Being an accountant and serving in different roles within the accounting spectrum (Controller, Accounting Manager, Sr. Accountant, Staff Accountant etc.).This topic of conversation has started to pop up more and more in my field. The more staff under me that gets cut out. The less valuable I become. Currently I've got six accountants, three A/P clerks and one fixed asset clerk who directly report to me. A lot of my work is review, analysis, and approvals. I could see many facets AI could replace the staff I have now. The only thing is in accounting/audit/financial world etc. People reviewing, approving and auditing their own work is highly, highly frowned upon. Will corporations be comfortable with one entity like "WATSON" having that much overlap with accounting functions, approval processes etc.? Will independent regulators? Will it impact GAAP, GAAS etc.? All questions that will have to be addressed as this gets closer to a reality in my field.
I think that companies would jump at the chance. For some reason the world has become used to computers screwing up. There isn't any real accountability when the speed auto traders tank the market. Someone high up just says "Oops, computer program went bad. Sorry." My feeling is when there is no person to point a finger at companies will be much happier because it is easier to attribute mistakes to things that aren't malfeasance. Bad code is easier to deal with than bad intentions.
 

Bamabuzzard

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I think that companies would jump at the chance. For some reason the world has become used to computers screwing up. There isn't any real accountability when the speed auto traders tank the market. Someone high up just says "Oops, computer program went bad. Sorry." My feeling is when there is no person to point a finger at companies will be much happier because it is easier to attribute mistakes to things that aren't malfeasance. Bad code is easier to deal with than bad intentions.
I'm sure there are. There are people in every company who want to cut expenses at all cost. But you will also have those within that same company asking the type questions I am asking. You will also have regulatory agencies that a lot of publicly traded companies and municipalities answer to who will be asking the same type of questions and more. I'm not saying ultimately AI won't penetrate the offices of the accounting and finance department (if it hasn't already on some level). But it won't to the degree we're talking about without a lot of scrutiny before simply waiving the white flag.
 

Bama Reb

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this is coming, get ready

I've got buddies at IBM, they internally already have replaced countless jobs with Watson. "He" Checks their expense reports, insurance submissions, offers them insurance and benefit options based on their histories and claims, reviews their travel requests and generally front-ends much of their HR. The humans are there to insure that Watson does right or work on what "He" can't figure out. If the company you work for has more than a 1000 employee's I promise you that there is an IBM Sales Exec telling your CFO how well this is working for them and not saying "reduce your workforce" they make it sound more appealing like "let your people concentrate on more important tasks"



https://www.theguardian.com/technol...-intelligence-ai-fukoku-mutual-life-insurance
While robots, or AI if you prefer, are advancing faster than many prefer, they are at present limited in their ability to troubleshoot and repair themselves or others of their kind. So if you are looking for a job in a rapidly growing field, make it AI technology programming and repair.
 

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