Blockchain, automation and AI. They're technologies you might not even have heard of a year ago. But today, they're more than just something that we only hear in the techies' discussions. It's a thing.
They're all technologies that are highly applicable, applicable to every single industry that we have today. It's then imperative that we all have at least a basic understanding of such technologies, and what the impacts of them are in our daily lives.
So, you might be asking, what are these technologies?
Blockchain, is like a spreadsheet that keeps a record of pretty much everything in the world, in the form of transactions called blocks
These blocks are linked to the block that was formed both before and after it, hence the name block-chain. It's a spreadsheet that people update constantly, with data that also changes constantly, which makes it impossible to reverse historical entries. In essence, this means that the information stored in the blockchain is secure, because no-one is able to retroactively edit the information stored inside, due to this impossibility of reversing historical entries.
Automation, is the general term for the replacement of human work by technology.
Perhaps it's a computer replacing someone in entering data, or it could even be robots working alongside a doctor to cut the time surgery takes. Automation is already widely seen around the world, but with technologies such as blockchain and AI, the level of automation that could be seen in the future is impossible to fully imagine.
Artificial Intelligence, or AI as it is commonly called, is the ability for computer systems to do things typically only humans can
This could be things such as learning new information from its environment, or using logic in a debate on a given topic. AI has in the past only been explored in topics of science fiction and philosophy, but as computer processing power increases, it is becoming more and more common. It's what's behind Google knowing your search results and optimising what it thinks would be more useful for you to see.
So coming back to the airline example, blockchain could be used to help analyse, store and manage revenue records for the airline, whilst keeping customer data absolutely secure.
Automation could help in the maintenance department, to have robots working on perhaps repainting the planes to help cut down the time needed for planes to sit on the ground.
And artificial intelligence could use logic in the interpretation of data that helps analyse which new routes could make the most profit.
What's important to note, is that human jobs are compromised in every one of these scenarios.
These technologies are all doing something that humans used to do. And whilst the actual ability for these technologies to reduce the total number of jobs available to us humans is debatable, what's for sure is that in the future, constant innovation will mean that jobs will be much less stable compared to now – and that there will no longer be such a thing as a lifelong job. What's more, these technologies are applicable in almost every industry in the world, in almost every possible way. It's therefore imperative that we put a little more attention into them.