AI Replacing Jobs Statistics

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  AI could replace 300 million full-time jobs. 80% of the US workforce will have at least 10% of their tasks affected by AI. 77% of businesses are already using or exploring AI. 75% of Chinese citizens would replace politicians with AI. CEOs of AI firms like OpenAI have signed an open letter warning about the risk of extinction from AI. AI already in the workplace statistics These tools replacing human jobs statistics look at how AI is already being used in the workplace. 1. 77% of businesses are already using or exploring AI. (Source: IBM) Fears of AI replacing jobs are warranted when 35% of businesses are already using it and 42% are exploring how to use it in the near future. While this doesn’t mean workers are being sacked, this becomes more likely as AI technology advances and is less reliant on human collaboration. 2. Large businesses are twice as likely to use AI than small businesses. (Source: IBM) Larger organizations spend more on research and development and have the cap...
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Basics of finance

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Finance, also known as financial economics, is the study and discipline of money, currency and capital assets. It is related with, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services.

finance, the process of raising funds or capital for any kind of expenditure. Consumers, business firms, and governments often do not have the funds available to make expenditures, pay their debts, or complete other transactions and must borrow or sell equity to obtain the money they need to conduct their operations. Savers and investors, on the other hand, accumulate funds which could earn interest or dividends if put to productive use. These savings may accumulate in the form of savings deposits, savings and loan shares, or pension and insurance claims; when loaned out at interest or invested in equity shares, they provide a source of investment funds. Finance is the process of channeling these funds in the form of credit, loans, or invested capital to those economic entities that most need them or can put them to the most productive use. The institutions that channel funds from savers to users are called financial intermediaries. They include commercial banks, savings banks, savings and loan associations, and such nonbank institutions as credit unions, insurance companies, pension funds, investment companies, and finance companies.

BASICS OF FINANCE

Finance is defined as the management of money and includes activities such as investing, borrowing, lending, budgeting, saving, and forecasting. There are three main types of finance: (1) personal, (2) corporate, and (3) public/government. 

Today’s financial world is highly complex when compared with that of a generation ago. Forty years ago, a simple understanding of how to maintain a checking and savings account at local banks and savings institutions may have been sufficient for financial transactions. Now, consumers, must be able to differentiate between a wide range of financial products and services, and providers of those products and services. Previous, the less-indebted generation may not have needed a comprehensive understanding of such aspects of credit as—the impact of compound interest, and the implications of mismanaging credit accounts, etc.

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