Artificial Intelligence: Will it really terminate the labour force?

It's almost scary to think that the world as we know it may well be run by Artificial Intelligence (AI) one day. While the risk of an imminent AI disruption of the labour market may sound like a fantasy, those with the most advanced AI technologies at hand think that AI is an imminent threat. They say an Industry 4.0 or cyber physical systems (CPS) revolution is coming whether we like it or not. AI in the labour market means the use of intelligent software to optimise the delivery of services by humans. However, in a recent meeting with U.S. governors, business magnate Elon Musk warned: "AI is a fundamental existential risk for human civilisation and I don't think people fully appreciate that … [AI] is the scariest problem."