Unfortunately, a remarkable number of robots are replacing human workers in numerous Japanese plants, even though chances of replacement in certain sectors were previously thought to be impossible.
Current situation in a Japanese insurance company
Only a few years ago when the idea seemed to be impossible; however, recent circumstances in a Japanese insurance company called Fukoku Mutual Life proved otherwise.
According to the reports of BBC, suggesting the company executed the decision of under sizing more than 30 workers to replace them with complete Artificial Intelligence for calculating insurance premiums. The insurance company believes that the decision will raise their efficiency level by a staggering 30%, while also saving $1.2mil every year!
IBM supercomputer Watson
The latest AI fully controlled by the IBM’s supercomputer called Watson, will be primarily responsible for assimilating all the necessary information about their policy holders. The AI will read the medical certificates and other health related data of Fukoku’s clientele.
Besides Fukoku, there are 3 additional companies planning to replace its workforce; moreover, there are other reports that state approximately seven million human workers will be replaced by robots in the next five years!
The positive results
Despite the sheer number of human workers losing their jobs, the sudden transition has the capacity to bring about remarkable results in the long run. As all the mundane and repetitive tasks get automated, it gives us (humans) more time to come up with further innovation and ideas.
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