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Artificial Intelligence's Impact On Jobs Is Nuanced

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Well, is artificial intelligence a job-killer or not? We keep hearing both sides, from projections of doom for many professions that will necessitate things such as universal basic income to help sidelined workers, to projections of countless unfilled jobs needed to build and manage AI-powered enterprises. For a worker losing his or her job to automation, knowing that an AI programming job is being created elsewhere is of little solace. Perhaps the reality will be somewhere in between. An MIT report released at the end of last year states recent fears about AI leading to mass unemployment are unlikely to be realized. "Instead, we believe that--like all previous labor-saving technologies--AI will enable new industries to emerge, creating more new jobs than are lost to the technology," the report's authors, led by Thomas Malone, director of the MIT Center for Collective Intelligence, conclude.


Research finds 1.4 million UK jobs could be automated this year

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According to a Faethm AI forecast, over 1.4 million jobs in the UK could be replaced by automation this year alone. Faethm's mission is to prepare the world "for the future of work" by using an AI engine – trained on billions of workforce data points – to predict what jobs need reskilling versus upskilling. "Employers and employees alike need to change their perspective. The future of work is already here and the introduction of technology does not affect work in a uniform way. We must acknowledge where it supplements existing work and invest in a targeted reskilling approach that recognises the new roles technology is creating and ensures human and machine labour complement one another. Doing so will not only help businesses add capacity and increase productivity, but also ensure they are looking after employees--making financially beneficial and morally responsible decisions and creating a digitally-adept workforce for the future."


The future of work is already here, but how fair is it?

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In 2003, the cyber fiction writer William Gibson coined the intriguing phrase; "The future is already here, it's just not very evenly distributed". When it comes to the workplace, this statement most certainly holds true. There is so much to be excited about as technology continues to evolve and be integrated into our workplaces: whether it be the ever-expanding capabilities of robotics, the rise of artificial intelligence, or the introduction of other intelligent technologies. But as with any great societal change, opportunity for some spells uncertainty for others. The integration of automation in organisations will undoubtedly bring productivity benefits, but there is one as yet unanswered question that looms around these discussions; what will happen once demand for certain roles and their functions can be fulfilled almost entirely by technology?


Global Big Data Conference

#artificialintelligence

Well, is artificial intelligence a job-killer or not? We keep hearing both sides, from projections of doom for many professions that will necessitate things such as universal basic income to help sidelined workers, to projections of countless unfilled jobs needed to build and manage AI-powered enterprises. For a worker losing his or her job to automation, knowing that an AI programming job is being created elsewhere is of little solace. Perhaps the reality will be somewhere in between. An MIT report released at the end of last year states recent fears about AI leading to mass unemployment are unlikely to be realized.


The Future of Jobs in the Era of AI

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The increasing adoption of automation, artificial intelligence (AI), and other technologies suggests that the role of humans in the economy will shrink drastically, wiping out millions of jobs in the process. COVID-19 accelerated this effect in 2020 and will likely boost digitization, and perhaps establish it permanently, in some areas. However, the real picture is more nuanced: though these technologies will eliminate some jobs, they will create many others. Governments, companies, and individuals all need to understand these shifts when they plan for the future. BCG recently collaborated with Faethm, a firm specializing in AI and analytics, to study the potential impact of various technologies on jobs in three countries: the US, Germany, and Australia.