Blockchain + AI = New Job Terminators

If you would like to secure a job in the upcoming years, learn to embrace, not to resist the new Terminators. Let's get a closer look in this 5-minutes article on how powerful they are.

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Imagine you and I bet $100 on the shoes color of the first customer of a coffee shop tomorrow. I say red and you say blue.

We have three options to manage this bet:

1. We trust each other. The loser will give $100 to the winner. If we are friends, this is not a problem, but how about we are strangers?
2. We can put the bet into a contract and sue the loser who defaulted. However, the winner will have to pay additional legal expenses. It doesn’t worth for such a small amount bet.
3. We can find a third party and give him $100 each for custody and release to the winner later; however, we run a risk that the third party might run away with all our money.

Unfortunately, neither one seems an optimal solution.

What if I can offer you a better solution with latest technology? Let’s learn how blockchain and AI are killing jobs.

Example of Smart Contract

We can write a program running on the blockchain, to which both of us send $100 (cryptocurrency) to the blockchain. This program will keep the $200 and check the shoes color of the first customer of a coffee shop tomorrow based on Machine Learning. It will automatically transfer $200 to the winner. We can check and agree on the program logic, and once it’s running on the blockchain it can’t be changed or stopped.

Sounds good? This program is called ‘Smart Contract’.

First Job Terminator – Blockchain

Contrary to traditional services, blockchain provides a new platform that can dramatically increase business efficiency. For example, blockchains provide an historical record set which is immutable, meaning that history cannot be rewritten. It ensures that all transactions on it are captured in a provable and transparent way, removing the need to ‘trust’ others.

Also, in contrast to traditional infrastructure, which is highly centralized on a single decision maker, blockchains employs distributed ledgers to distribute decision making to every participating party in the chain, where requires unanimous among all parties for the output of a program logic. This results in a highly efficient decision-making process that is both understood by all parties involved.

Second Job Terminator – Artificial Intelligence

Alongside the efficiency and power Artificial Intelligence (‘AI’) can provide, they are solving problems in ways that humans are just not capable of. Back to our example the machine learning technique we could use for identifying the shoes color of a customer automatically is called ‘Pattern Recognition’. AI can quickly process vast amounts of data and derive new patterns or anomalies, which can lead to big business discoveries or insights. If blockchain and AI together can make better predictions, faster, and cheaper than human, it’s only a matter of time before all businesses are employing their services instead of us.

Summary

With the New Job Terminators, perhaps we have reached a stage where it’s not necessary for everyone to work the way we traditionally have. If you would like to secure a job in the upcoming years, learn to embrace, not to resist the new Terminators.