, Milken Institute Chairman Michael Milken joined ‘Mornings with Maria’ to discuss the future of A.I. health care and the Federal Reserve forecasting a ‘mild recession’ later this year., industry leaders said in Las Angeles this week, predicting it could even take over tasks like answering emails.
Panelists agreed there will likely be some substitution of work by AI, but that it will mostly compliment people to help them do their work faster. Lord Abbett CEO, Doug Sieg, echoed this sentiment, arguing that jobs will become more dynamic and interesting as the pace of technological change continues.
Igor Tulchinsky, the Founder, Chairman and CEO of WorldQuant, said AI will allow people to get from point A to point B in their daily tasks much faster and explained that point B could actually be something different from what was originally devised because AI has new ideas. "It can do it now, you just have to be prepared, that's all," Tulchinsky responded. "Generally it can get about 80% of the content correct. So in theory, you only need to spend 20% of the time doing equal amount of work."
He said the accuracy of AI will continue to go up, reaching as high as 99.99%, but warned it is never going to hit 100% because AI "simply doesn't know everything."