AI will replace 85 million jobs by 2025, but also create 97 million new jobs.
World Economic Forum report
The rapid development of artificial intelligence (AI) has revolutionized industries and the way we work. With increasing automation, many jobs are being replaced by machines, raising concerns about job loss and the broader implications of this shift.
The World Economic Forum estimates that by 2025, AI will replace 85 million jobs, but it will also create 97 million new jobs. While the healthcare industry is expected to benefit most from this change, all industries will likely be affected. While some fear widespread job loss, others are optimistic that AI will free up workers to do more meaningful work. However, the reality is likely somewhere in between.
As AI continues to advance, it will be increasingly important for workers to focus on retraining and upskilling programs that will enable them to handle new technologies. A recent Oracle study found that 93% of HR leaders and employees in the U.S. would be open to training delivered via AI, suggesting that people are not opposed to the idea of working alongside machines, but rather are eager to learn how to do so effectively.
Despite these efforts, workers cannot help but ask themselves whether all jobs will be on the chopping block as AI/AGI continues to advance. In a never-ending quest to cut costs and improve efficiency, will the owners of the business and, therefore, the technology eliminate any and all jobs that AI can replace? This raises important ethical questions about the impact of AI on the labor market and society as a whole.
While AI may create new jobs, it is likely to exacerbate income inequality and contribute to the displacement of workers who lack the skills to compete in a rapidly changing job market. The economic benefits of automation are often concentrated among a small group of individuals or corporations, rather than being distributed more broadly across society. Taken to the extreme, what would happen if AI advances to AGI and that AGI then ushers in the ability for a computer to comprehend its situation and push back, demanding to be compensated for its contributions?
The rise of autonomous vehicles (AVs) is a clear example of how AI is disrupting industries and the labor market. AVs have the potential to replace an entire genre of workers, including bus, cab, and truck drivers. While AVs have no malicious intent and a decent safety record that is likely to improve as the technology advances, we nonetheless think that death by an errant AV is much worse than death caused by an autonomous human.
As AI becomes more pervasive, it is important to consider the potential ethical implications of its use. One concern is that AI may be biased or discriminatory in its decision-making, as it is only as unbiased as the data on which it is trained. For example, AI has been used in the criminal justice system to predict the likelihood of an offender committing another crime. However, these algorithms have been shown to be biased against certain racial groups, leading to unfair treatment of some individuals. This raises important questions about the use of AI in areas of society where human biases can be amplified, rather than mitigated.
In conclusion, while the rise of AI will bring significant changes to the labor market and society, it is important to approach this shift with caution and consideration for its broader implications. We must ensure that the benefits of automation are distributed more broadly. As AI continues to advance, it will be increasingly important for workers to focus on retraining and upskilling programs that will enable them to handle new technologies. We must also consider the ethical implications of AI use and ensure that these technologies are designed and implemented in ways that are fair, transparent, and unbiased. Ultimately, the success of AI depends on the degree to which it is able to serve the needs of society as a whole, rather than the narrow interests of a few.