Working with machines: Company 'appoints' AI algorithm as board member

Motheo Khoaripe talks to futurist Graeme Codrington, Partner at TomorrowToday, about the future of artificial intelligence.

Does the growing role of artifical intelligence (AI) around the world make you nervous?

Futurist Graeme Codrington (Partner at TomorrowToday) firmly believes that with the right approach we can create a world in which humans and machines can work with each other.

Motheo Khoaripe (in for Bruce Whitfield) chats to Codrington on The Money Show.

AI is already changing the way business gets done.

Codrington says there is a misperception when we think of technology coming into the workforce.

We tend to have a picture of robots taking over the work of labourers or the unskilled.

There's more to it, he says.

... but ACTUALLY, in addition to that, I think over the next few years we're going to be seeing a lot of algorithms and software, and bots and apps coming for some of the top-end professional jobs that include high-end thinking.
Graeme Codrington, Futurist and partner - TomorrowToday

Codrington discusses the example of Japanese investment house SoftBank that has an AI algorithm as an official member of its board.

One of the members of the board is this computer that sits in the corner!... SoftBank is famous for investing in multiple industries all around the world and they use this algorithm to test some of their investment theories.
Graeme Codrington, Futurist and partner - TomorrowToday

So when the board is discussing a new investment, they throw it across to the computer and the computer crunches thousands of different scenarios in a split second and then gives a bit of feedback.
Graeme Codrington, Futurist and partner - TomorrowToday

So it's not as if there's this robot sitting in the corner pretending to be a human on the board, but the board is deliberately incorporating artificial intelligence algorithms in order to help them make better decisions.
Graeme Codrington, Futurist and partner - TomorrowToday

Codrington believes this is going to be happening in more and more in industries around the world.

He describes Estonia as actually one of the world's leading technology 'companies'.

The country already has a digital citizenship option and is going further with plans to make a Cabinet minister in their Parliament an artificial intelligence bot, he says.

"There are a few of our Cabinet ministers that I'm not sure you would notice if they were replaced by a computer that maybe even was switched off!" (chuckles)

Codrington says it's all about striking a balance between utilising technology and providing opportunities for humans.

Most companies, when they think of this technology... think of it in terms of efficiency, productivity, cost saving, and in terms of replacement - how do we take the people, replace them with machines that don't go on strike, don't go on holiday...
Graeme Codrington, Futurist and Partner - TomorrowToday

That's actually counter-productive way... I think that the 'business unusual' is these companies that are beginning to realise that we are going to have to find a way to become bionic... [the concept of] humans and machines combining together... not competing with each other but integrating...
Graeme Codrington, Futurist and Partner - TomorrowToday

"It's up to us as individuals to develop our skills, and it's also up to governments and organisations to make those future human skill development opportunities available" he says.

Listen to the fascinating interview on The Money Show: