A new report released by The White House highlights a number of concerns regarding artificial intelligence. The report talks about the benefits of AI and how it is going to help the economy in the future and allow innovation. However, it also questions its negative impact on job creation in the “AI, Automation, and the Economy” section.
The truth is that AI is still in its infancy and not much is known about its impact on the economy. It has become a reality, but there is a lot more that has to be known about AI before one could conclude it’s exact impact on the economy.
AI is already being used in different industries, including pharmaceutical industry. AI is helping doctors find breast cancer risk 30 times faster, as per this report. It is believed that AI will help save lives in the future. It is also said to be used in other industries in the future, including service industry. However, there are signs that indicate that AI will not help much in case of low level jobs or jobs that require little skills.
This is because such jobs usually require digid patterns. Factory work, office work, and service occupations are generally repetitive and require the same task to be performed again and again. The more predictable the methods and activities, the easier it is to automate jobs. Artificial intelligence increases the stakes since computers use historic and current data to learn and find repetitive patterns. In this case the employes end up being trainers.
While experts are asking others to stop freaking about artificial intelligence, the report by The White House indicates that there is a need to worry. There are a number of tasks that would not be easily automated, such as plumbing and carpentry related tasks. This is because robots do not have the ability (yet) to handle unpredictable layouts since they do not have the same range of motions as humans. However, for more employees, the work that they do is more easily automated than they realize.
But low-level jobs are not the only jobs that are at risk. Even white-collar employees may be at risk. As per this report, around 47% jobs in the US will be handled by computers by 2033. Robots are said to displace workers and not just replace them. It is not quite like automation or management tools that are handled by humans; instead robots seem to be doing everything and have ousted humans from several jobs. The first ever robot-only hotel just opened in Japan, and is doing well. At this pace, it will not be too soon before you have robots serving you tea instead of a friendly human in your own city.
Due to this some lawyers, financial advisers, writers and even doctors feel pressurized in specialized areas. According to reports, only 18% of the total US workforce faces no risk from automation. However, some experts still believe that there is no need to worry as even though automation may cause certain jobs to become ‘obsolete’ it will open new opportunities too. Plus, it’s also believed that humans have an upper hand as they have real world experience and knowledge which robots cannot compete against.
The truth is that companies automate to improve their bottom line and become more efficient by reducing input and increasing output. And if humans continue to provide better results, they will not lose their job.
However, experts also argue that since the whole purpose of having robots is to reduce humans at work places, businesses will shy away from creating new jobs. An example of this is former factory workers who could not move to higher positioned jobs and ended up being jobless once they got replaced by computers and machinery.
The report published by The White House concludes that there is a need for all sectors to work together to be able to make sure that AI causes no side effects. But, is that really possible?