The rise of artificial intelligence and employment
The rise of artificial intelligence and employment
Technology has advanced at an astonishing rate throughout the years. Everything
from simple stone tools to complex genetic modification and the emergence of digital
technology during the 1980s has altered the way we live and see the world. Numerous
advantages of technological advancements have enabled our economy to grow and society's
freedom from physical labor to be granted. There are a number of industries that rely on
technology in order to remain relevant in modern society, including health care, education,
the financial industry, and many more. However, even though there are countless advantages
to employing contemporary technology, there are also many disadvantages such as a
diminishing workforce when we rely on or focus our attention on using it. An emerging
concept in our ever-expanding universe is artificial intelligence (AI). The hunt for ideas that
would allow technology to think, communicate, and produce on its own has been sparked by
advances in artificial intelligence. The emergence of artificial intelligence has some fearing
that the workforce will see a change in the incorporation of robots into the employment.
Concerns about artificial intelligence's impact on the workforce will need an examination of
human adaptation to computers and IT employment opportunities.
The Global Societal Problem
Artificial intelligence (AI) is an issue since it will result in the loss of many
employments across a wide range of sectors. When ancient philosophers described the
process of human thinking as if it were a machine learning tool, they coined the term
"artificial intelligence," which means "machine learning”. The working class, especially the
uneducated and lower-income individuals, will be most affected (McClelland, 2020). Many
workers will be out of work as a result of artificial intelligence. Telemarketers, bookkeepers,
receptionists, couriers, proofreaders, market research analysts, and computer support experts
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are among the occupations that will be replaced in the future. According to Thomas (2019),
the influence of artificial intelligence would result in the abolition of millions of employment
opportunities worldwide. Artificial intelligence systems were originally utilized in the
commercial operation business, and they have progressed to the point where they are now
being used in various industries.
Positive and Negative Impacts of AI on Employment
Artificial intelligence (AI) is quickly becoming a required technology in practically
every business, and we can credit the epidemic for the fast acceptance of this growing
technology. However, unless we teach humans to work more effectively with artificial
intelligence, we will suffer economic turbulence and job losses in the coming decade (Spaeth,
2019). Collaboration and interaction between humans and robots are essential for increasing
corporate productivity and efficiency, but firms will need to assist their staff in bridging any
skill gaps that may arise along the road.
According to King, Hammond, and Harrington (2017), 47 percent of employees are in
danger of becoming automated, which would result in many people losing their jobs across a
wide range of industries. Within the next ten years, it is projected that 30 percent of the
banking industry's workforce will be laid off. Because it demonstrates the legitimacy of
artificial intelligence as a topic of discussion, this material was intriguing to read. The
affluent will become wealthier, and the poor will get poorer as artificial intelligence takes
away their occupations. They lack the knowledge and resources to get high-paying positions
that will enable them to prosper (McClelland, 2020). Artificial intelligence will add to the
high unemployment rates and individuals' difficulty finding work in the future. This is also a
globalization problem since individuals in other countries would take employment with lower
pay to supplement their income.
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According to Gartner, a global research and consultancy business, artificial
intelligence (AI) can generate around 500,000 jobs. Still, it also can cause over a million job
losses for humans if it is integrated into the workforce (Douglas, 2019). Numerous
commentators have suggested that this transition might impact everyone who works in low-
skill occupations or lives in low-income regions since their educational backgrounds have not
progressed beyond a certain point. Artificial intelligence is already being employed in
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