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Segment 5 The Moravec Paradox and Navigating Across Paradigms

I introduced the idea of the Moravec Paradox - machines and AI will take over the many tasks and jobs humans do today, especially the cognitive and logical tasks, over time. This is not in dispute. I used the metaphor of rising sea levels rising in a terrain of valleys, hills and mountains. As the sea levels rise, valleys, hills and eventually mountains will submerge. This is a metaphor for jobs disappearing. We know the water levels are rising in the world of work. How fast the sea levels are rising and which valleys, hills and mountains will be affected first may be open to debate. The fact is more and more jobs will be taken over by machines and AI. So, we have to make sure we can reinvent ourselves and do the work which machines cannot do (yet). As hills of work are disrupted and submerge, we can navigate to different and higher hills. The three strands are important, powerful and necessary, and will help us in our navigation. It will help us identify our next hills and mountains, and learn to navigate across the terrain and swim if necessary. Only then, we can remain on dry land, and avoid being drowned. The “safe and secure box” is based on an old mindset. It is based on a print-based society and on a hierarchical set up. The future will be dynamic and fluid. It will be based on networks, ecosystems and platforms; current industry structures will dissolve away, and those who thrive will be skilled in multi- disciplinary domains. It will be a different world from what we see today. Actuaries and the actuarial profession have to change our mindset from a “safe and secure box” to a “springboard for the future” and acquire new competencies in order to thrive and endure as economic actors and as a profession.