AI Takeover: Ten Industries Facing Major Disruption by 2030 - Part 1

Industries Brace for AI Disruption by 2030
As artificial intelligence (AI) continues its rapid advancement, several industries are poised for significant transformation by 2030. Recent analyses highlight sectors where AI's impact will be most profound, reshaping operations, employment landscapes, and service delivery.
Healthcare: Enhancing Diagnostics and Patient Care
AI is set to revolutionize healthcare by improving diagnostic accuracy and patient outcomes. Machine learning algorithms can analyze vast datasets to detect patterns and anomalies, aiding in early disease detection and personalized treatment plans. Hospitals are increasingly adopting AI-driven tools to streamline administrative tasks, allowing medical professionals to focus more on patient care.
Finance: Automating Transactions and Risk Assessment
In the financial sector, AI is automating routine transactions and enhancing risk assessment models. Banks and investment firms utilize AI to detect fraudulent activities, predict market trends, and personalize customer experiences. This shift not only increases efficiency but also raises concerns about job displacement in traditional banking roles.
Manufacturing: Streamlining Production Processes
Manufacturers are integrating AI to optimize production lines, predict equipment maintenance needs, and manage supply chains more effectively. AI-driven robots and automation systems are reducing human error and increasing productivity, leading to a reevaluation of workforce requirements in factories.
Retail: Personalizing Customer Experiences
Retailers employ AI to analyze consumer behavior, manage inventory, and personalize shopping experiences. From chatbots handling customer inquiries to AI-curated product recommendations, the retail landscape is becoming increasingly data-driven. This transformation necessitates a workforce skilled in digital technologies and data analysis.
Transportation: Advancing Autonomous Vehicles
The transportation industry is witnessing a shift with the development of autonomous vehicles and AI-powered logistics. Self-driving cars and drones are being tested for deliveries, while AI algorithms optimize routing and traffic management. These innovations promise efficiency gains but also pose challenges for employment in driving professions.
Education: Customizing Learning Experiences
Educational institutions are adopting AI to create personalized learning paths, automate administrative tasks, and provide real-time feedback to students. AI tutors and adaptive learning platforms cater to individual student needs, potentially improving educational outcomes. However, this also requires educators to adapt to new technologies and teaching methodologies.
Agriculture: Enhancing Crop Management
AI applications in agriculture include precision farming, where sensors and drones collect data to optimize planting, irrigation, and harvesting. Predictive analytics help farmers make informed decisions, increasing yield and sustainability. The adoption of AI in agriculture aims to address food security challenges amid a growing global population.
Legal Services: Streamlining Document Analysis
Law firms are utilizing AI to automate document review, legal research, and contract analysis. Natural language processing tools can quickly sift through vast legal documents, identifying relevant information and reducing the time required for case preparation. This efficiency may alter the demand for entry-level legal positions.
Human Resources: Optimizing Recruitment Processes
AI is transforming human resources by automating resume screening, candidate matching, and employee engagement analysis. These tools help HR professionals identify suitable candidates more efficiently and predict employee retention risks. While enhancing decision-making, it also raises questions about bias and fairness in automated hiring processes.
Real Estate: Predicting Market Trends
In real estate, AI assists in property valuation, market trend analysis, and customer relationship management. By analyzing historical data and current market conditions, AI provides insights that help investors and agents make informed decisions. This technological integration is reshaping how properties are bought, sold, and managed.
Hospitality: Personalizing Guest Experiences
The hospitality industry leverages AI to personalize guest experiences, manage bookings, and optimize pricing strategies. Chatbots handle customer inquiries, while AI analyzes guest preferences to offer tailored services. These advancements aim to enhance customer satisfaction and operational efficiency.
Government Services: Improving Public Administration
Governments are adopting AI to streamline public services, from automating administrative tasks to enhancing d

Episode Transcript

Speaker 1 (00:11):
Hi, Welcome to the er Thompson Podcast. Thank you so
much for joining me. Please do me a favorite, sharing
my podcast with your friends and family, follow us, like us,
give us a good rating if you feel that to you.

Speaker 2 (00:22):
This podcast is designed.

Speaker 1 (00:24):
To help entrepreneurs and people in business in the planning,
in the launch, the development, and in just the day
to day management of their businesses. I'm a serial entrepreneur,
so I know a little bit about it. On today's podcast,
we're going to be talking about artificial intelligence.

Speaker 2 (00:46):
Why is this important?

Speaker 1 (00:52):
Well, when you do your research, and I'm one of them,
I was slow. I was late to the game of
using artificial intelligence because I don't trust I don't trust
people creating software that, according to ex Google CEO Eric Schmidt,

(01:13):
in the next five years, AI could escape human control.

Speaker 2 (01:16):
So I'm like, I don't really want to be part
of this.

Speaker 1 (01:18):
But the problem is, of course that's a gloom and
doom just dopiing way of looking at it. But the
reality is, I would say a significant percentage of businesses
are going to have to use AI to compete. So

(01:38):
I thought, well, let's look at the industries that AI
is going to probably most distrupped and that way you
can go, well, maybe I don't want to go into
that business, or okay, well let me do more research
on how to figure out chat, GPT and all this
stuff and GROCK and all that.

Speaker 2 (02:00):
Yes, now, as let me set the stage here quickly.

Speaker 1 (02:06):
The rapid growth of AI reminds me of back in
two thousand. I was hired by the Pacific Bell Yellow
Pages in San Jose, California, right in the middle of
Silicon Valley, when when Google was just starting. So, when
Google's starting out of the garage, I'm in the yellow
page industry, and at first in two thousand and one,

(02:28):
two thousand and two, the Yellow Book, the Yellow Pages,
the thing they would drop off on your door, that
was the place you would go to to get quick
content was still doing okay, but we were starting to
feel the effects of the Internet, and we're like, well,
you know, maybe in a decade or so, we're probably
gonna have to figure something out.

Speaker 2 (02:50):
I don't think so.

Speaker 1 (02:51):
Within a couple of years two three years, with Google's
rapid taking over a market share in the SERD from
Netscape and from Yahoo, all of a sudden I was
starting to meet people with artificial intelligence startups and they
started for setting up offices around Google, which Google then

(03:14):
ended up setting up their own AIEAM for development. And
then all of a sudden, the phone book just with
the search and improving and the ability to get information quickly,
advertisers bailed on us, and the industry is basically dead
except for a few small local directories.

Speaker 2 (03:37):
With now I saw.

Speaker 1 (03:38):
I was told about AI back in twenty years ago,
and they told me back.

Speaker 2 (03:45):
Then, I remember an Israeli startup.

Speaker 1 (03:47):
The guy told me that what he knew back then
was coming was scary. So in ex Google CEO Warren's
AI could escape human control in twenty twenty, by twenty
twenty five or by twenty thirty. I'm like, well, I'm
not going to go down that path because I live
more of a forward thinking life.

Speaker 2 (04:06):
But we should look at it.

Speaker 1 (04:08):
So if you're considering starting a business, like yesterday on
the podcast, I went over a business at AI won't
be that important. How to start your own curb painting
business where you can paint numbers on curbs people making
A friend told me about nine thousand dollars a month
in the good season, you know, when it's not rainy

(04:28):
and cold.

Speaker 2 (04:31):
But now let's go over to AI. So here are
fourteen industries.

Speaker 1 (04:39):
That AI will most likely impact over the next decade,
and we'll go through them briefly because I know you
guys are busy, so I might even do two parts here. See,
this isn't the first time new technologies like I said,
have threatened to disrupt the job markets. Historically, though, tech
advancements have taken and transform physical tasks such as those

(05:02):
performed on assembly lines and factory floors.

Speaker 2 (05:05):
We know about the robotics and all that.

Speaker 1 (05:06):
So unless you're in a big manufacturing company or production company,
this won't apply to you.

Speaker 2 (05:13):
But we can see that.

Speaker 1 (05:16):
You know, Tesla is basically making cars with robots and
computers and AI. You know they have gotten rid of
labor for the most part in their assembly lines. But
the good thing about AI is it will help your business,

(05:42):
but sometimes it will also require you, for the sake
of being competitive, to not need as much human labor.

Speaker 2 (05:55):
Recently, I was.

Speaker 1 (05:55):
Walking around our neighborhood we live outside of Tulsa, Oklahoma,
and Broken Arrow guy was out with his kids and
we started talking. And I was in the Marine Corps
and this guy was in the Marine Corps and He
ended up telling me he was a retired Tulsa police officer.
He said okay, and he goes, now I'm an attorney.
Then it made me think back to two thousand and

(06:18):
five ten somewhere, and it's the deck. You know, time
flies when you're getting older. I remember I was doing
uber rides around Stanford and I picked the guy up
and he was going to be graduating in with his
law degree. And I said, this was back when AI.
I was, you know, running into those people. And I said,

(06:40):
I just talked to some people from the Google Artificial
Intelligence team, and what if your job's not needed in
the future. He's like, well, you know, I don't know
about all that, but you know, I think they'll always
need attorneys. So I was talking to my neighbor. I said,
you know, I think AI is going to displace people
in certain industries. And he said, well, here's how I

(07:02):
see it. In the law industry. From his point of view,
the days of needing really big law firms with a
bunch of paralegals and a bunch of junior attorneys and
big staffs.

Speaker 2 (07:17):
Is going to go. That's going to go away.

Speaker 1 (07:20):
That business model because AI, according to the attorney is
like having a very talented assistant that's getting smarter. So
here are some of the things that how AI is
going to impact various workforces. It's going to automate repetitive tasks.

(07:41):
So if you're starting a business, or if you have
a business and you have employees and labors going up. Which,
by the way, I did do another uber right a
meta guy who was a corporate consultant. I think I
was taking him. I might have repeated this on a
previous podcast, but it works here. I was taken him
to Microsoft or one of the corporations, and I asked them,
what's the first thing the corporation executives ask you or

(08:06):
there there why they want to hire you one of
the and the main reason is they want right out
of the shoe to cut labor. Well, if your business,
now I'm not talking to you if you're a service business,
and generally because I think some of the most secure
industries for growth would be in the plumbing, plumbing and

(08:30):
the electrical contracting and cement those type of things, I
think those are going to be secure for quite a while.
But if you own a business like an accounting firm,
or if you want to get into you know, a
graphic art or things that are repetitive or can be

(08:52):
learned by AI. Then you're not going to need those people.
So if you haven't hired them, then get comfortable with
artificial intelligence because it will do the work for you.

Speaker 2 (09:06):
For much much, much, much less without.

Speaker 1 (09:08):
Hiring going through the training, all the costs, the workers
comp and all that unemployment risk. Now, just that's the
positive side is it allows you to focus on tasks
that need to be done that you don't need to
hire someone to do, and you don't have to do it.

(09:30):
AI will help your business to analyze quicker. You can
look at data, you can patterns, you can look at industries.
If you're determining if you want to go into an industry,
it will give you a very good overview of the
upsides and downsides of that particular industry in that particular

(09:53):
city or region, so you can quickly analyze data sets.

Speaker 2 (09:59):
It does.

Speaker 1 (09:59):
I told you it reduces human call I mean cost.
It's gonna it's gonna help personalize customer experiences. It can
tailor products or services to customer preferences. So it's gonna
be analyzing data competitors, what products are selling, what's kind
of the way, what's everyone doing and what you need

(10:22):
to do? And how can you set U stuff apart.
I know it sounds like, well, then what do I do? Well,
that's gonna be the that's gonna be where you determine
as the entrepreneur, as the business owner, you focus on
the things AI can't do. AI drive will drive innovations,

(10:44):
from making informed predictions to generating creative ideas to offer
suggestions for improvements. And as I expected, I'm going to
go a little bit long on this, So this will
be part one of some fourteen industries or that are
going to be affected by artificial intelligence. So when you
are determining should I get into that industry these industries?

Speaker 2 (11:10):
Am I in it?

Speaker 1 (11:12):
Am I declining because I've refused to use the technology?
So I want to make sure at least you understand
that it is here. You cannot avoid it. And I
saw an article that AI won't destroy businesses, but for

(11:33):
those who will not adopt it, it will lead to demise.

Speaker 2 (11:37):
So let's not be those people.

Speaker 1 (11:41):
Because artificial intelligence has entered various sectors in just the
last five years, and now they've even got this this
machine learning and deep learning algorithms like I said, and
Eric Schmidt saying, you have a general artificial intellig diligence
that's coming out, and then after that will be a

(12:03):
like this, this super artificial intelligence, which then it.

Speaker 2 (12:12):
Is going to be controlling so much.

Speaker 1 (12:14):
So let's use it for our advantage and for our
businesses and not get caught flat footed like we did
in the yellow page industry. So again we're going to
be looking at industries that AI will help but in
general will disrupt existing businesses by twenty thirty. Here are

(12:37):
some of them. Healthcare, customer service and experience, banking, financial services,
and insurance logistics, which, by the way, this will blow
you ay about trucking and stuff. They're actually running autonomous

(12:57):
trucks now. I think from Houston to Dallas, we'll get
to that, retail, cybersecurity, transportation, like I just said, marketing, defense,
and lifestyle. So make sure you don't miss part two
as I'm going to break down these categories, try to
pull out some.

Speaker 2 (13:14):
Of the specifics, but again I'm going to I'm going
to address the more on a podcast.

Speaker 1 (13:24):
Some of the industries that AI will most likely not
be able to disrupt for quite a while, but I'm
part two of this one. We're going to look at
how artificial intelligence is going to disrupt them and we're
going to be the ones that are that are going
to be in the fight. We're going to use it
for our advantages and we are going to win the

(13:46):
battle of the business giants, or at least in our
own neighborhood. So thank you for listening. Look for part
two here of AI we industries. The AI is going
to be disrupting and I'll be back here in a
little bit.

Speaker 2 (14:01):
Thanks for listening. This is Eart Thompson.