Artificial Intelligence Affecting the Job Market- Threat or Fact?
Would The Rise of Robots impact the Job Market?
Whoever has ever thought that the self-driving cars and human-like robots will exist and that too a major co-existence with humans? Additionally, we are living in a society of advanced technology that is rapidly transforming our future.
The technology behind this ultimate revolution is Artificial Intelligence. AI has brought a drastic change in gaming, chatbots, smart cars, smartphones, personal assistance and more. By using AI a normal computer system can perform tasks by alerting the surroundings that are later used for taking action that helps in maximising chances of success. Moreover, AI has not just made our lives easier by serving us with tailored results specific to our needs but it is now on the verge of overruling the human intellect by utilizing the human characteristics like the ability to reason, generalize, discover meaning, and start learning from the experiences. Sounds interesting, isn’t it?
The Impact of Artificial Intelligence
The scope of the AI has been a topic of great arguments as machines have so far become increasingly capable of leading a quip that “AI is whatever has not been done yet”. If you really think about it, you’ll find it surprisingly true. The domain of AI effects includes the strategic game systems, military simulations, voice recognition, interpreting complex data including the images and videos as well.
Looking at the impact that AI has on our system so far, there always had been a great ongoing discussion about the impact that it can have on the job market or if it is something that should be feared or welcomed.
There had been many arguments and discussions revolving around the danger and benefits associated with AI that are affecting our lives. Let us discuss on a closer look at it and understand how valid they really are.
You might have heard about the theory that “rise of the robots” is deemed to end almost half of the industry workforce around the world. About automation, experts say that if it is not planned well or are not addressed completely, as per the World Bank research, it could lead to disaster without any doubt and will affect 60% to 70% of current jobs in China. Such jobs are expected to get marginalized or eliminated once and for all. It is also expected that an increase in automation will affect 69% of India’s job market, while it is 77% in China.
The fear that is associated with AI that it will replace endless jobs could be justified but is not actually true. It is not only about the threat associated with AI, it is actually; also about blending the technologies together for creating and opening doors for more jobs. This era of digitization and automation will help to create newer career choices for IT professionals.
While there are risks associated with these advancements, there’s a good news as well! The good side is that it will also have a lot more new job opportunities that are going to be created in the areas of big data, cybersecurity, machine learning, cloud, and AI. So, it is now clearly the exact time for IT professional to spindle up their career to make sure they are moving with the flow of growth. Additionally, there are many industries that have started looking into with an optimist’s eye by holding the fact that the AI and automation can save them a lot of cost by creating a high demand of products within a shorter time frame, and generate more profit while paying off more wages to the employees.
The Bottom Line
Let’s not forget the fact that when automation kills many jobs; it opens new doors. We cannot all behave like pessimists about the advancements that AI would be bringing rather should be ready to recover from the short-term adjustment that our economy is going to face in the near future. Moreover, the advancements in AI are giving us a new meaning to our lives and the businesses.