Nwes business adviser looks at advances in AI technologies

American scientists in Boston reckon the way rats think might help them improve the development of navigation systems for self-driving cars. In a laboratory in California they’re using algorithms to copy the way dragonflies catch their prey to improve missile guidance technology.

Perhaps not surprising then that a PwC report last year suggested that artificial intelligence (or AI for techies) will contribute 15.7 trillion dollars to the global economy by 2030.

So, for those of you like me who have only just worked out that there are two timers you can set on Alexa this might all sound a bit too much. But there is no doubt that we’re heading for an era where machines will do more and more of the work we used to do. PwC estimate 38 per cent of all jobs in the US are vulnerable to AI over the next 15 years.

That’s why a few years ago Finland started experimenting with the concept of Universal Basic Income (UBI), or citizen wages, where the state pays everyone a basic annual income with no strings attached. Chicago, too, has run a pilot and in Ontario a three-year trial is paying around 4,000 residents between $17,000-24,000pa. Interest in UBI seems to be catching on as governments see if this social security model could protect citizens from the effects of AI.

What does this mean for start-ups today? Well, fortunately we haven’t yet come across a robot looking to start up decorating business or open a café which means there is plenty of scope for entrepreneurs still. But changing technology is something to watch and will no doubt present all kinds of opportunities in the future.

If you are looking to start a business, then our free two-day First Steps To Start Up programme is designed to help you understand the basics of setting up a business and get going. For more information or to book just visit www.nwes.org.uk/events or call 01553 970029. Courses run in Lynn and Fakenham

Thanks to Alexa, AI for me means no more burnt pizza, but I suspect more exciting times are ahead.