Moneyball for business: How AI is changing talent management

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Fifteen years after Billy Beane disrupted Major League Baseball by applying analytics to scouting, corporations are rewriting the rules of recruiting.

The online games were easy–until I got to challenge number six. I was applying for a job at Unilever, the consumer-goods behemoth behind Axe Body Spray and Hellmann’s Real Mayonnaise. I was halfway through a series of puzzles designed to test 90 cognitive and emotional traits, everything from my memory and planning speed to my focus and appetite for risk. A machine had already scrutinized my application to determine whether I was fit to reach even this test-taking stage. Now, as I sat at my laptop, scratching my head over a probability game that involved wagering varying amounts of virtual money on whether I could hit my space bar five times within three seconds or 60 times within 12 seconds, an algorithm custom-built for Unilever analyzed my every click. With a timer ticking down on the screen . . . 12 . . . 11 . . . 10 . . . I furiously stabbed at my keyboard, my chances of joining one of the world’s largest employers literally at my fingertips.

More than a million job seekers have already undergone this kind of testing experience, developed by Pymetrics, a five-year-old startup cofounded by Frida Polli. An MIT-trained neuroscientist with an MBA from Harvard, Polli is pioneering new ways of assessing talent for brands such as Burger King and Unilever, based on decades of neuroscience research she says can predict behaviors common among high performers. “We realized this combination of data and machine learning would be hugely powerful, bringing recruiting from this super-antiquated, paper-and-pencil [process] into the future,” explains Polli, sitting barefoot on a couch at her spartan office near New York’s Flatiron District on a humid May morning, where about four dozen engineers, data scientists, and industrial-organizational psychologists sit behind glowing iMacs.

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This company embeds microchips in its employees, and they love it

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Last August, 50 employees at Three Square Market got RFID chips in their hands. Now 80 have them.

When Patrick McMullan wants a Diet Dr Pepper while he’s at work, he pays for it with a wave of his hand. McMullan has a microchip implanted between his thumb and forefinger, and the vending machine immediately deducts money from his account. At his office, he’s one of dozens of employees who have been doing likewise for a year now.

McMullan is the president of Three Square Market, a technology company that provides self-service mini-markets to hospitals, hotels, and company break rooms. Last August, he became one of roughly 50 employees at its headquarters in River Falls, Wisconsin, who volunteered to have a chip injected into their hand.

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AI will create as many new jobs as it loses

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PwC, the business consultancy, reckons that as many UK jobs will be created by AI as will be lost by AI.

A PwC report forecasts that about 20% of UK jobs will be automated by 2037—but 20% more jobs will also be created.

That’s 7 million jobs lost and 7.2 million jobs gained.

PwC reckons that manufacturing sector jobs could be reduced by around 25% – a net loss of nearly 700,000 jobs.

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News flash:It’s about the skill set, not the suit or the degree

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High School failed me. As a high school dropout, I knew I was taking a risk by rejecting the ‘normal route’ and knew I always wanted to be in the business world. During one assignment in my computer class, I did not show up in a suit and tie for the presentation. The teacher docked me for not ‘dressing proper’, which I found puzzling. After all, this class was about desktop publishing – why should this be an issue? It should be about the substance of my work and not some preconceived, superficial notion about how I looked. For me, it has always been about the substance and not the suit.

The good news is that federal aid for colleges has reached its high-water mark. The bad news is that millions of young adults feel they have no choice but to enroll in a four-year University, something that brings with it an inordinate amount of debt for many students.

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Disney invented a robotic stuntman that could put humans out of a job

This dexterous robot could put stunt doubles out of a job. Disney’s Imagineering Research and Development lab built a robotic stuntman that can perform daring flips 60 feet in the air. The robot uses a combination of lasers, accelerometers and gyroscopes to track and adjust its position in midair to mimic the actions of a real stuntman. Disney calls the technology “Stuntronics.”

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Will you be employed? Skills demanded by the changing nature of work

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In 1997, Garry Kasparov, one of the greatest chess players in history, lost a chess match to a supercomputer called Deep Blue. Some years later Kasparov developed “advanced chess,” where a human and a computer team up to play against another human and computer. This mutation of chess is mutually beneficial: the human player has access to the computer’s ability to calculate moves, while the computer benefits from human intuition.

This is the future of work – not just machines replacing humans but also machines augmenting humans. The future is: Human & Machine.

However, our collective imaginations (say for instance in Hollywood) continue to be gripped by dystopian visions of machines replacing humans wholescale. Researchers are paying attention to these ideas. One paper suggests that around 47 percent of US employment is at risk of automation.

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Almost 80% of US workers live from paycheck to paycheck. Here’s why

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America doesn’t have a jobs crisis. It has a ‘good jobs’ crisis – where too much employment is insecure, and poorly paid.

The official rate of unemployment in America has plunged to a remarkably low 3.8%. The Federal Reserve forecasts that the unemployment rate will reach 3.5% by the end of the year.

But the official rate hides more troubling realities: legions of college grads overqualified for their jobs, a growing number of contract workers with no job security, and an army of part-time workers desperate for full-time jobs. Almost 80% of Americans say they live from paycheck to paycheck, many not knowing how big their next one will be.

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A 15-year study of 5,000 entrepreneurs finally answers the question: Is it better to quit your day job or keep it?

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Data doesn’t lie.

There is a sexy image of an entrepreneur as someone toiling away in a garage, tinkering full time on their new venture, or joyously yet feverishly staying up until 3 a.m. working on their latest innovation or iteration of their product.

We love to celebrate these fantasy risk-takers and breakthrough-makers, ones who put it all on the line and then cash in big.

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Robots will lead to more human trafficking, slavery, report says

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Tens of millions of workers could lose their jobs to automation, particularly in southeast Asia, over the next 20 years.

Garment workers among those most at risk of losing their jobs, finding few low-skill alternatives and facing exploitation, according to the Verisk Maplecroft report.

The rise of robot manufacturing will dramatically alter the labor market in southeast Asia and result in a spike in human trafficking, slavery and other labor abuses, according to a report released Thursday.

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How artificial intelligence could kill capitalism

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If you believe the hype, then Artificial Intelligence (AI) is set to change the world in dramatic ways soon. Nay-sayers claim it will lead to, at best, rising unemployment and civil unrest, and at worst, the eradication of humanity. Advocates, on the other hand, are telling us to look forward to a future of leisure and creativity as robots take care of the drudgery and routine.

A third camp – probably the largest – are happy to admit that the forces of change which are at work are too complicated to predict and, for the moment, everything is up in the air. Previous large-scale changes to the way we work (past industrial revolutions) may have been disruptive in the short-term. However, in the long term what happened was a transfer of labor from countryside to cities, and no lasting downfall of society.

However, as author Calum Chace points out in his latest book ‘Artificial Intelligence and the Two Singularities’ this time there’s one big difference. Previous industrial revolutions involved replacing human mechanical skills with tools and machinery. This time it’s our mental functions which are being replaced – particularly our ability to make predictions and decisions. This is something which has never happened before in human history, and no one exactly knows what to expect.

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Why China is spending billions to develop an army of robots to turbocharge its economy

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Chinese President Xi Jinping has called for a robot revolution in manufacturing to boost productivity.

Wages in China are rising, and it’s becoming harder to compete with cheap labor.

An aging population in China also necessitates automation. The working-age population, people age 15 to 64, could drop to 800 million by 2050 from 998 million today.

Chinese robotic growth is forecast to exceed 20 percent annually through 2020.

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‘Following your passion’ is dead- Here’s what to replace it with

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Following your passion presupposes that you have one. But many people don’t.

Develop a passion, don’t follow it.

It’s what kids do.

When someone in your life is asking the important “What should I do with my life?” question – have you ever told them “Just follow your passion”?

If so, please stop doing that. Yes, completely, and forever. Because it’s garbage advice. Among the worst out there, right next to the original food pyramid and playing hard to get after a date.

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