Venture capitalist: AI will displace 40 percent of world’s jobs in as soon as 15 years

Venture capitalist: AI will displace 40 percent of world’s jobs in as soon as 15 years, by 60 Minutes.

In as soon as 15 years, 40 percent of the world’s jobs could be done by machines, according to one of the world’s foremost experts on artificial intelligence. Kai Fu Lee, a pioneer in AI and venture capitalist based in China. …

“AI will increasingly replace repetitive jobs, not just for blue-collar work, but a lot of white-collar work,” says Lee. “Chauffeurs, truck drivers, anyone who does driving for a living– their jobs will be disrupted more in the 15-25 year time frame,” he tells Pelley. “Many jobs that seem a little bit complex, chef, waiter, a lot of things will become automated … stores … restaurants, and altogether in 15 years, that’s going to displace about 40 percent of the jobs in the world.” …

“I believe [AI] is going to change the world more than anything in the history of mankind. More than electricity,” says Lee. …

“The invention of the steam engine, the sewing machine, electricity, have all displaced jobs. We’ve gotten over it. The challenge of AI is this 40 percent, whether it is 15 or 25 years, is coming faster than the previous revolutions.” …

One of the biggest changes will be in education. Lee is financing companies that are installing AI systems in remote classrooms across China to improve learning for students far from the country’s growing cities. The AI-system is being designed to gauge student interest and intelligence by subject.