Ride the Lightning

Artificial Intelligence: New Stats and Projections from Gartner

November 30, 2017

Bloomberg reported on November 27^th that a Gartner global survey of more than 3,000 CIOs reveals that one out of four companies have already deployed artificial intelligence or are making short-term plans to do so—up 10 percent from 2015.

Gartner projects that the number of customer interactions based on AI-related technologies, such as machine-learning, chatbots and mobile messaging, will rise from 11 percent at present to 72 percent by 2022. Anyone who has been watching legal websites has seen a marked rise in such technologies.

Gartner also forecasts that in 2018 AI will lead to $200 billion in new revenue and the elimination of some 943,000 jobs, although it also claims that will be counter-balanced by the creation of some 768,000 new AI-related positions. Maybe, but the proof will be in the pudding.

By 2020, Gartner predicts AI applications will create 2.3 million jobs, while eliminating only 1.8 million existing positions. People in moderately skilled occupations, for which training is received "on the job," will bear the brunt of the losses, says Helen Poitevin, another Gartner research director, while the new positions will be weighted towards highly skilled, managerial roles.

I do agree that ignoring AI's potential carries the risk of becoming uncompetitive or obsolete. And obviously a lot of law firms, especially the large ones, are well down the road to utilizing AI. One thing I have noted is that there are now so many AI vendors (making a lot of promises) that some market shakeout is inevitable. So if you choose an AI vendor, choose wisely.

Hat tip to Dave Ries.

RTL (and I) will be on sabbatical next week. See you again the following week!

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