Because to ChatGPT’s growth, artificial intelligence is currently the hottest topic in technology. The Microsoft-backed OpenAI chatbot’s use of AI to answer queries, produce articles, and even present legal arguments has astounded and impressed users.
Due of its capabilities, individuals are now more concerned than ever about how, when, and if artificial intelligence will affect their careers and jobs. While worries about AI-based technology replacing workers have grown, experts warn it’s not quite that straightforward.
creating or displacing jobs?
Is AI going to displace some jobs? The quick answer is a resounding “yes.”
According to Steven Miller, retired professor of information systems at Singapore Management University, advances in artificial intelligence mean that technology can accomplish more and more, which will undoubtedly have an influence on occupations.
“It is increasingly possible as well as economically viable to replace a greater share of the portions of the human work of today with machines,” he said in an interview with CNBC Make It. “As physical machines, software systems, and combinations of hardware and software get more capable as a result of AI-enablement.”
According to Miller, some roles are more susceptible to this than others, particularly those that need a great deal of repetition or are dependent on detailed guidelines or standards that specify how something should be done.
On the other hand, it is more difficult for technology to replace jobs that need adaptability and flexibility because they change frequently.
According to Dimitris Papanikolaou, a professor of finance at the Kellogg School of Management at Northwestern University, jobs having a significant human component, like being a therapist, are especially unlikely to be replaced by technology. Professions that prioritize interpersonal skills are considerably more resistant to AI replacement, he claims.
Are there any upcoming new jobs?
According to Steve Chase, consulting head at KPMG U.S., the concerns are not unexpected. Like with most technical developments, it’s normal for people to initially dread losing their jobs and being replaced.
Yet, he continues, there are a few things that must be kept in mind. First off, similar disruptions have occurred in the past, such as the introduction of computers or the use of more sophisticated and specialized machinery in manufacturing.
Even though they eliminated certain employment, these altered how and what people worked on, yet today we couldn’t picture living without them.
According to Miller, this process has been going on for millennia, and history demonstrates that whenever new technology has eliminated one employment, it has been replaced by another.
He explains that “the number of new employments created as a result of the ability to create and supply new sorts of goods and services… have far surpassed the number of jobs lost.”
Using AI rather than opposing it
Papanikloaou emphasizes that AI, as well as the technology and goods based on it, are still constrained in some aspects.
“In my opinion, we are now quite off from’real AI’ in that every model we have focuses on predicting the appropriate action given a collection of inputs. A large portion of what AI accomplishes, according to him, is to combine current information with a specific objective. This is a long way from contributing to new information.
Hence, he believes, a scenario where humans coexist with artificial intelligence rather than being displaced by it is more probable right now. More chances exist for employing AI to supplement human workers’ labor than for entirely automating it human-made work.
Chase concurs, pointing out how many companies are utilizing AI to boost productivity or provide other forms of staff support.
According to him, “leaders are embracing AI to achieve material efficiencies for their businesses and help employees execute their tasks more successfully.” By utilizing AI, firms can restructure their workforces to cut down on time spent on tedious jobs and increase strategic decision-making.
According to Chase, firms must change if they hope to do this. This entails educating staff members, assisting them in up- and re-skilling, and developing frameworks for employing AI technology responsibly. He claimed that several businesses had already started to use this.
Hence, even though AI algorithms and the technology that is based on them may not be about to replace people’s occupations, they will probably start to play a bigger role in working life on a daily basis, possibly sooner rather than later.