Machines could do half our work

Business | Tereza Cai 24 May 2019

Machine learning could replace half of all jobs, especially those with simple repetitive tasks, according to an Association of Chartered Certified Accountants survey.

A mere 19 percent of interviewed companies in China are in the early stages of adopting machine learning while 4 percent expect to adopt the technology in next three to six months, said Eunice Chu, head of policy at the ACCA (Hong Kong).

The survey, which interviewed 1,897 of its members around the world in finance and technology sectors, showed just 5 percent of the firms have applied machine learning into their operations. However, Chu said that machine learning could help cut operating costs as repetitive tasks could be done by computers.

About 55 percent of respondents in China cited high costs as the main reason keeping them away from the technology.

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