Rapid advancements in the field of artificial intelligence (AI) are uniquely poised to transform entire occupations and industries, changing the way work will be done in the future. It is imperative to understand the extent and nature of the changes so that we can prepare today for the jobs of tomorrow. New empirical work from the MIT-IBM Watson AI Lab uncovers how jobs will transform as AI and new technologies continue to scale across business and industries. We created a novel dataset using machine learning techniques on 170 million U.S. job postings. The dataset and research, The Future of Work: How New Technologies Are Transforming Tasks, allow us to extract key insights into how AI is shaping the future of work.
AI and machine learning are already changing the way that businesses operate. In the financial services sector, the technology is being used in everything from customer service to credit decisioning to fighting fraud. Earlier this year research from IHS Markit warned that banks piling into AI could spell tens of millions of job losses but the new IBM report suggests this is mistaken. The MIT-IBM Watson AI Lab used machine learning to analyse 170 million online job postings in the US between 2010 and 2017, finding that task are shifting between people and machines - but the change is slow. The overall demand for tasks that make up occupations are down between 2010 and 2017.
Artificial intelligence is likely to change how every job is performed, eliminating work related to repetitive tasks but increasing the need for creative thinkers, according to a new study. These findings are contained in a report released this week by the MIT-IBM Watson AI Lab called "The Future of Work: How New Technologies Are Transforming Tasks." The study found signs that AI is beginning to slowly redefine the nature of tasks performed in certain jobs as automation gains ground. "As new technologies continue to scale within businesses and across industries, it is our responsibility as innovators to understand not only the business process implications, but also the societal impact," said Martin Fleming, vice president and chief economist of IBM, in a statement. "To that end, this empirical research from the MIT-IBM Watson AI Lab sheds new light on how tasks are reorganizing between people and machines as a result of AI and new technologies."
IBM has always believed that 100% of jobs will ultimately change due to the impact of AI. Recent empirical research conducted by the MIT-IBM Watson AI Lab provides insights into the prediction and explains how it's going to happen. The joint research by Massachusetts Institute of Technology and IBM scrutinized the probable applications of Machine Learning in 170 million online job postings between 2010 and 2017 and came up with a report "The Future of Work: How New Technologies Are Transforming Tasks." The research examined the impact of Artificial Intelligence on employment and inferred that the result will be a significant decrease in the number of tasks. It additionally stated that work that would require "soft skills" would be given more focus on.
How will technological change affect the quantity and quality of future jobs? It is difficult to know. The issue of whether there will be enough jobs in the future receives substantial attention, mainly because of the well-publicized experiences of manufacturing workers whose jobs have been displaced by the introduction of robotics. It also reflects a long-held societal anxiety that machines will replace us. The consensus among most scholars, however, is that jobs are not going away.