Artificial intelligence—this amazing technology has taken the world by storm, captivating billions of people and bringing the entire humanity to the brink of a technological revolution that just did not seem possible a few years ago. While this is definitely exciting, a new IMF report has recently confirmed that AI will continue to replace jobs and deepen inequality among workers. Thus, it’s not surprising that many people worry about AI’s potential impact on many, if not most, of the jobs.
In the current AI-driven context, experts are already talking about a new type of anxiety, commonly referred to as AI anxiety—so the problem is about to become more serious than some might like to admit. Since machine learning and AI will ripple through different industries and economies in complex ways, foreseeing and quantifying their net effect on current jobs and future employment opportunities is quite a difficult thing to do.
Based on the data we have right now, let’s explore how AI will probably shape the future of work (and not only).
AI Will Bring a New Kind of Automation
One of the negative effects of AI technologies on current and future jobs can be easily predicted by looking at prior technological revolutions. For decades, machines and technologies have not only complemented human work but also replaced humans, particularly in industries like manufacturing and agriculture, which involved repetitive or dangerous tasks. In more recent years, however, new types of automation typically involving digital technologies and robotics have contributed to a steady decline in the number of jobs in different industry sectors, including transportation, customer service, and banking. While the utilisation of new technologies has led to improved efficiency and productivity, we can not deny that it has also been a major contributing factor to job displacement and a series of societal challenges.
Yet It’s Not All Black
The concerns about AI replacing jobs are well-founded. However, one thing people tend to overlook is that AI will also lead to improved performance, efficiency, and productivity, which will in turn drive economic growth. A well-known fact is that economic growth always increases demand for goods and services, with a positive impact on job creation and wage gains.
According to a report by McKinsey and Company, the same AI technologies that are predicted to replace millions of jobs in different industries will directly or indirectly create:
- 250 million to 280 million new jobs in consumer-related industry sectors;
- 80 million to 200 million new jobs in construction;
- 50 million to 85 million new jobs in healthcare and education;
- 20 million to 50 million new jobs in the information technology field;
- 10 million to 20 million new jobs in the renewable energy industry;
- 50 million to 90 million jobs in childcare, cleaning, cooking, and gardening.
Furthermore, AI is expected to create more diversified job opportunities in previously unexplored areas. For instance, the integration of AI technologies in fields like manufacturing, transportation, healthcare, and education will demand a growing maintenance workforce. While this is good news particularly for the workers who will lose their jobs to AI, a major drawback is that a large number of people will need to learn new skills in the years ahead.
It Doesn’t Have to Be Humans versus AI…
There is no doubt that certain AI applications will be able to fully execute specific tasks that are currently performed by humans, thus replacing some workers. Yet, until now, AI has mostly complemented human work for increased efficiency and productivity. There is no reason to believe that AI won’t be used for the exact same purpose in the future—simply put, the choice is ours to make.
While the number of jobs that will be affected by AI around the world is an essential consideration, AI’s expected contribution to the future of humanity is equally important. Although AI currently falls short in many areas, it does possess some extraordinary abilities that one day could be harnessed to help us solve major challenges, such as climate change, public health concerns, food security, and even social injustice and inequality.
In conclusion, when it comes to AI technologies and our future, including the future of work, the key takeaway is: collaboration.
For the mere purpose of exemplification, we’ve conducted our own experiment in which Paul, the human, had a very constructive dialogue with…well, Paul, an AI avatar. Here is the interesting conversation ➡. Have fun!