Should Artificial Intelligence be Regulated to Protect Jobs?

For over 23 years, Larry Collins worked as a toll collector on the Carquinez Bridge in San Francisco. He loved his job -- every day, he would come to work and greet drivers, provide directions, answer questions, and collect toll fees. Over the years, although the toll price had changed tremendously, his job was always in a stable condition. But, this all changed during March of 2020. In the midst of the coronavirus pandemic, Collins was suddenly informed that his tollbooth was getting shut down and replaced by an artificial intelligence-based toll collector machine. Collins was not the lone victim of industrial automation unemployment, just in the Northern California region, 185 other toll booths were also shut down and replaced by technological alternatives (Semuels). As the 21st-century technological advances continue, applications of artificial intelligence are expected to expand exponentially. Slowly but surely, artificial intelligence is automating a multitude of manual jobs, causing widespread unemployment around the world (Peterson). There is clear uncertainty about the future of artificial intelligence. A recent report from the conference on Computers, Privacy, and Data Protection suggested that the European Commission (EU), is strongly "considering the possibility of legislating for Artificial Intelligence". This legislation would explore a number of nuances that come with future artificial intelligence job automation and will consider the implementation of a novel regulatory framework (MacCarthy). On the other hand, organizations such as Deltec, an international financial research institute, are in support of artificial intelligence automation and don't want regulation as it would hinder humanity's ability to research and solve problems in an efficient manner (Trehan).