In regard to automation, I’m sure we’re all familiar with the bank teller adage. When the ATM was invented, there was an assumption that bank tellers would go the way of the dodo. It was a terrifying time to be a bank teller, with automation nipping at the leg of your khakis. The outcome, though, wasn’t terrifying at all. Bank tellers did not disappear; in fact, the story goes, the number of bank tellers nationwide has dramatically increased post-ATM. Why?
The ATM did not replace the bank teller. Instead, it merely altered the job description. Instead of spending time counting and dispensing money, the bank teller took up more complex and stimulating tasks—like dealing with customers and accounts. The added efficiency from ATMs allowed banks to open more locations, subsequently hiring more bank tellers. People often bring up this story today, applying its Aesopian morals to our 21st-century fears about AI and automation. It’s a relatable story with a comfortable twist. It’s also wildly inapplicable.
I do not want to overstate the novelty of the artificial intelligence (AI) predicament. We, as a species, have endured many technological advancements and industry disruptions. With each industry-shattering technological revolution, there has always been a Chicken Little sentiment. The scribes have been displaced by the printing press! The sky is falling!
Continue reading: https://www.forbes.com/sites/forbescoachescouncil/2022/03/07/the-sky-is-falling-the-difference-in-todays-automated-ai-revolution/?sh=3f772de7d5de
The ATM did not replace the bank teller. Instead, it merely altered the job description. Instead of spending time counting and dispensing money, the bank teller took up more complex and stimulating tasks—like dealing with customers and accounts. The added efficiency from ATMs allowed banks to open more locations, subsequently hiring more bank tellers. People often bring up this story today, applying its Aesopian morals to our 21st-century fears about AI and automation. It’s a relatable story with a comfortable twist. It’s also wildly inapplicable.
I do not want to overstate the novelty of the artificial intelligence (AI) predicament. We, as a species, have endured many technological advancements and industry disruptions. With each industry-shattering technological revolution, there has always been a Chicken Little sentiment. The scribes have been displaced by the printing press! The sky is falling!
Continue reading: https://www.forbes.com/sites/forbescoachescouncil/2022/03/07/the-sky-is-falling-the-difference-in-todays-automated-ai-revolution/?sh=3f772de7d5de
