* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, June 4, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Author Richard Russo Will Speak At Sandwich Town Hall – CapeNews.net

    Join Us for an Inspiring Evening with Author Richard Russo at Sandwich Town Hall!

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Salem’s Harborwalk Garden Cultivates Community with Entertainment, Food, and Events – 105.7 WROR

    Discover the Vibrant Community Spirit at Salem’s Harborwalk Garden: A Hub for Entertainment, Food, and Fun!

    Entertainment-Focused Narrative and Culture Change Practice – New America

    Transforming Culture Through Engaging Entertainment Narratives

    Rising stars: Young classical musicians surging on social media – Yahoo

    Meet the Next Generation of Classical Music Sensations Making Waves on Social Media!

    Devin Harjes Dies: ‘Manifest’ & ‘Boardwalk Empire’ Actor Was 41 – WyomingNews.com

    Tragic Loss: Devin Harjes, Star of ‘Manifest’ and ‘Boardwalk Empire,’ Passes Away at 41

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    AI for lawyers: Win back your time using technology – nationaljurist.com

    Reclaim Your Time: How AI is Transforming the Legal Profession

    Prosecutors accuse men of exporting U.S. military technology to China – Milwaukee Journal Sentinel

    Men Charged with Illegally Exporting U.S. Military Technology to China

    ROLAND’S NEW WIRELESS TRIGGER TECHNOLOGY, PORTER & DAVIES ON TOUR, NEW 64 AUDIO ASPIRE UNIVERSAL IEM MODELS, WAVES FREE PLUGIN PACK – Modern Drummer Magazine

    ROLAND’S NEW WIRELESS TRIGGER TECHNOLOGY, PORTER & DAVIES ON TOUR, NEW 64 AUDIO ASPIRE UNIVERSAL IEM MODELS, WAVES FREE PLUGIN PACK – Modern Drummer Magazine

    This giant microwave may change the future of war – MIT Technology Review

    Revolutionizing Warfare: The Impact of a Game-Changing Giant Microwave

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Author Richard Russo Will Speak At Sandwich Town Hall – CapeNews.net

    Join Us for an Inspiring Evening with Author Richard Russo at Sandwich Town Hall!

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Salem’s Harborwalk Garden Cultivates Community with Entertainment, Food, and Events – 105.7 WROR

    Discover the Vibrant Community Spirit at Salem’s Harborwalk Garden: A Hub for Entertainment, Food, and Fun!

    Entertainment-Focused Narrative and Culture Change Practice – New America

    Transforming Culture Through Engaging Entertainment Narratives

    Rising stars: Young classical musicians surging on social media – Yahoo

    Meet the Next Generation of Classical Music Sensations Making Waves on Social Media!

    Devin Harjes Dies: ‘Manifest’ & ‘Boardwalk Empire’ Actor Was 41 – WyomingNews.com

    Tragic Loss: Devin Harjes, Star of ‘Manifest’ and ‘Boardwalk Empire,’ Passes Away at 41

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    AI for lawyers: Win back your time using technology – nationaljurist.com

    Reclaim Your Time: How AI is Transforming the Legal Profession

    Prosecutors accuse men of exporting U.S. military technology to China – Milwaukee Journal Sentinel

    Men Charged with Illegally Exporting U.S. Military Technology to China

    ROLAND’S NEW WIRELESS TRIGGER TECHNOLOGY, PORTER & DAVIES ON TOUR, NEW 64 AUDIO ASPIRE UNIVERSAL IEM MODELS, WAVES FREE PLUGIN PACK – Modern Drummer Magazine

    ROLAND’S NEW WIRELESS TRIGGER TECHNOLOGY, PORTER & DAVIES ON TOUR, NEW 64 AUDIO ASPIRE UNIVERSAL IEM MODELS, WAVES FREE PLUGIN PACK – Modern Drummer Magazine

    This giant microwave may change the future of war – MIT Technology Review

    Revolutionizing Warfare: The Impact of a Game-Changing Giant Microwave

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

MIT study explores computer vision AI in workplaces

January 27, 2024
in Business
MIT study explores computer vision AI in workplaces
Share on FacebookShare on Twitter

Will artificial intelligence take our jobs and replace human workers with machines? Although recent headlines would lead you to believe that AI systems will substitute humans as soon as possible, recent research from MIT says otherwise.

MIT conducted a study funded by the MIT-IBM Watson AI Lab and used online surveys to collect data on roughly 1,000 visually assisted tasks across 800 occupations. It explored the integration of computer vision systems in these various work settings and found that the cost of implementing such technology often does not justify the potential savings in human labor expenses.

The cost-benefit analysis of computer vision AI in the workplace

The study found that 36% of jobs in U.S. non-farm businesses have at least one task that is exposed to computer vision, but only 8% have at least one task that has enough of an economic benefit for it to be attractive for a firm to automate the task. The report says that since only a tiny fraction (2%-30%) of any occupation can be classified as a vision task, the more relevant metric to consider when analyzing operations to see if it would make sense to implement AI would be the cost benefits of AI on the company.

In that regard, the report found that in many occupations with low wages, where there are few tasks per person and many workers doing the same task, the cost savings introduced by automation aren’t significant enough to justify making the investment and incurring the expense of creating (or buying), implementing and training AI. In other words, even though most AI systems are more than capable, not all tasks that AI can perform are economically viable to replace human labor. For large businesses, the high cost associated with fine-tuning AI systems for specific tasks may be feasible and worth the investment, but for small to medium-sized businesses, the cost is prohibitive.

An example from the study that showcases this is when the researchers looked at the potential use of computer vision in a bakery. One task that bakers do is visually check their ingredients to ensure they are of sufficient quality, for example, to ensure the ingredients haven’t spoiled. This task could be replaced with a computer vision system by adding a camera and training the system to detect food that has gone bad. To see if this is worth it for a small baker, the report calculates the cost savings that come from this sort of computer vision system.

The study found that quality-checking ingredients accounted for ~6% of the duties of a baker and that the average small bakery has five bakers making around $48,000 per year. Therefore, the potential savings from automating this task would be equivalent to roughly $14,000 per year. However, the researchers believe that the amount saved—14,000 per year—is far below the cost of developing, deploying, and maintaining a computer vision system and, therefore, is not an economical substitute for human labor in this scenario. In other words, it will cost the bakery more than $14,000 to get its AI system up and running. Therefore, the savings they would experience due to the automation are canceled out by the cost of owning and operating the AI system that makes it possible.

Computer vision AI vs. multimodal AI

It’s important to note that this study only focused on computer vision, which is much different than more dynamic systems like multimodal large language models, including
OpenAI’s GPT-4. While computer vision is very specific, multimodal large language models are much broader in their ability to execute tasks, and the tasks that they can run closely resemble the cognitive tasks that humans complete throughout the day.

A recent study by OpenAI estimates that 19% of U.S. workers could see 50% of their workplace tasks impacted by advanced AI systems like GPT-4, which is much more significant and is bound to have much more of an effect on the workplace than computer vision.

While the report suggests that AI has transformative potential for the workplace, it acknowledges that the widespread integration of a computer vision system is not as imminent as some might expect. The study found that computer vision is currently capable of automating tasks that represent 1.6% of worker wages in the U.S. economy (excluding agriculture). However, only about 0.4% of the economy could benefit from cost savings through such automation. This is because the less dynamic an AI system is, the fewer jobs and tasks it is likely to effectively automate. This makes it a sub-optimal implementation for businesses, especially smaller businesses, due to the cost of implementing and operating the system.

I think the one area where the report falls short is that it does not look at the cost savings experienced by computer vision automation on long time horizons. It isn’t unusual to hear that a new system does not pay for itself during year one, similar to how the report describes the small bakery example, but usually, as time goes on and the costs to operate a system significantly decrease, there does comes a point where the system reaches break even and becomes a tool that saves the company more money than it costs to operate the tool leading to an overall increase in efficiency and cost savings.

It also does not explore the value that could be created if each worker could effectively use that 6% of the time they use to examine ingredients in other areas, which could likely lead to more revenue being generated for the business and slightly offsetting the costs of the AI.

Regardless, as the year progresses, we are bound to see more case studies and reports that examine AI’s impact on the workplace and try to answer the question of whether AI is indeed a threat (substitute) to human workers that will make them redundant by fully automating their jobs, or if AI is more of a complimentary tool that increases productivity and allows human workers to spend more time on the tasks that can’t be automated.

In order for artificial intelligence (AI) to work right within the law and thrive in the face of growing challenges, it needs to integrate an enterprise blockchain system that ensures data input quality and ownership—allowing it to keep data safe while also guaranteeing the immutability of data. Check out CoinGeek’s coverage on this emerging tech to learn more why Enterprise blockchain will be the backbone of AI.

Watch: Artificial intelligence needs blockchain

YouTube video

New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : CoinGeek – https://coingeek.com/mit-study-explores-computer-vision-ai-in-workplaces/

Tags: businessexploresstudy
Previous Post

Paper Ventures $25M blockchain VC fund targets early-stage startups

Next Post

Satoshi Nakamoto settlement offer to COPA in Satoshi Trial (COPA v Wright) analysis

Collective dynamical regimes predict invasion success and impacts in microbial communities – Nature

Collective dynamical regimes predict invasion success and impacts in microbial communities – Nature

June 4, 2025
John Brenkus, ‘Sport Science’ Host, Died By Suicide, Medical Examiner Says – TMZ

Tragic Loss: ‘Sport Science’ Host John Brenkus Passes Away in Heartbreaking Circumstances

June 4, 2025
Meghan to take a break from As ever as she announces next step for those ‘wondering and waiting’ – Nine – Honey

Meghan to take a break from As ever as she announces next step for those ‘wondering and waiting’ – Nine – Honey

June 4, 2025
Aeternum Update 1.3.27 – newworld.com

Exciting New Features and Enhancements in Aeternum Update 1.3.27!

June 4, 2025
Larry Kudlow: Liberal media has been ‘completely wrong’ on the Trump economy – Fox Business

Larry Kudlow: Liberal media has been ‘completely wrong’ on the Trump economy – Fox Business

June 4, 2025
Author Richard Russo Will Speak At Sandwich Town Hall – CapeNews.net

Join Us for an Inspiring Evening with Author Richard Russo at Sandwich Town Hall!

June 4, 2025
Hochul, Jeffries raise concerns over possible impacts of One Big Beautiful Bill Act – Spectrum News

Hochul, Jeffries raise concerns over possible impacts of One Big Beautiful Bill Act – Spectrum News

June 4, 2025
Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

June 4, 2025
Kehoe calls special session on storm damage, KC sports teams – FOX 2

Kehoe Announces Special Session to Address Storm Damage and Support KC Sports Teams

June 3, 2025
From Eggs To Fingerlings, Wyoming Students Dive Into The World Of Fish Conservation – KGAB

From Eggs to Fingerlings: Wyoming Students Make Waves in Fish Conservation!

June 3, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (664)
  • Economy (678)
  • Entertainment (21,584)
  • General (15,261)
  • Health (9,720)
  • Lifestyle (681)
  • News (22,149)
  • People (679)
  • Politics (687)
  • Science (15,898)
  • Sports (21,182)
  • Technology (15,664)
  • World (665)

Recent News

Collective dynamical regimes predict invasion success and impacts in microbial communities – Nature

Collective dynamical regimes predict invasion success and impacts in microbial communities – Nature

June 4, 2025
John Brenkus, ‘Sport Science’ Host, Died By Suicide, Medical Examiner Says – TMZ

Tragic Loss: ‘Sport Science’ Host John Brenkus Passes Away in Heartbreaking Circumstances

June 4, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version