Is AI Going To Take Our Jobs?
The impact of AI on jobs is a topic of concern and debate. While some reports predict significant job losses, others suggest that AI will create more jobs than it eliminates. According to a report by the World Economic Forum, 83 million jobs will be lost over the next five years due to AI and other economic drivers, but this will also create 69 million jobs, with AI and sustainability growing the fastest. According to Accenture, an estimated 40% of all working hours could be impacted by AI large language models.
Here's the positive side of AI – We have good news, AI is not going to take your job unless you let it.
Similarly, Goldman Sachs states that 300 million jobs could be impacted by AI, but also notes that technological innovation that initially displaces workers has historically created employment growth over the long haul. The steam engine may have put buggy whip makers out of work. However, many displaced craftsmen became more accomplished technicians and mechanics. Their standard of living was improved as was the general economy. Goldman predicts that AI will increase the nation’s GDP by 7%.
We now face a revolution of Artificial Intelligence or the AI Era. The impact of AI on the labor market is likely to be significant, but most jobs and industries are only partially exposed to automation and are thus more likely to be complemented rather than substituted by AI. Therefore, it is important to focus on upskilling and reskilling the workforce to adapt to the changing job market. As suggested in the book "The Second Machine Age" the era of the computer has created a time of abundance and collaboration rather than the preceding age of scarcity and competition.
We are moving from a time of scarcity which is competitive into a time of abundance which requires collaboration. These are the conclusions of MIT data scientists, Erik Brynjolffson and Andrew McAffee in “The Second Machine Age.” Their observations supported by data were that the First Machine Age began with the invention of the steam engine and continued until 2006. They argue that it was then that the Second Machine Age jolted human progress from linear to exponential due to the power of computer processing.
The Age of Collaborative AI is upon us.
Rather than be victimized by potential changes in the workplace, it is more productive to accept the inevitability of change and learn how to adjust while assisting others to do likewise. Virtually every innovation in work methods brings about change in the nature and manner of human endeavor.
When we view AI as a collaborative tool, rather than a competitive threat, the potential for an economy of abundance begins to take shape. The potential impact of AI on the nature of work can provide greater opportunities for those who are able and willing to adjust.
A. Potential solutions to mitigate AI job losses
As was the case with prior work-related revolutions (the steam engine, the assembly line, and the internet), AI can generate far more benefits than threats to human well-being. Our role is to ensure that the risks are managed and the benefits are optimized. Like the assembly line, it took decades for a regulatory response to child labor abuses and the exploitative imbalance of power between owners and employees.
That there is a current and broadly discussed concern that AI will take over human thought and behavior to make us obsolete must be acknowledged. The call for AI regulation is frequent and loud. However, the prospect of meaningful and well-informed government action is neither certain nor soon.
Instead, developing standards and models of Responsible AI is the more immediate and impactful course of action. When Responsible AI takes shape, the marketplace will be more inclined to rely on trustworthy examples of technology which work for the benefit of humans, rather than to their detriment.
For example, the threat of job losses from AI can be addressed by actions which can be taken today, rather than years from now. Responsible businesses and governments can help adjust the mindset of the workforce faced with the potential of a changing workplace in some of the following ways:
1. Embrace Lifelong Learning and Reskilling
Upskilling and reskilling programs are fundamental solutions. As some occupations become automated, new ones will emerge, requiring different skill sets. This transition can be smoothed out by investing in continuous learning programs. They can be facilitated by employers, educational institutions, or governments. The costs of unemployment benefits and rising experience ratings for employers can be offset to some degree by targeted upskilling programs. Online learning platforms that offer courses on digital literacy, AI, coding, and data analysis are a great start.
2. Promote STEM Education
Promoting STEM (Science, Technology, Engineering, Math) education from an early age will equip future generations with the necessary skills to work alongside AI and in other tech-based industries. This doesn't mean everyone needs to be a programmer or data scientist, but a basic understanding of these areas can open up new opportunities and allow people to adapt more easily to technological change.
3. Economic Support for Upskilling
OpenAI’s CEO Sam Altman states that Ai could generate enough money to give every American $13k/yr. Unlike some benefit programing, supporting upskilling doesn’t create a co-dependency but instead empowers employees affected by AI to improve their status in the economy.
4. Encourage Entrepreneurship
Creating a culture of entrepreneurship can stimulate job creation. Governments and institutions can play a role in this by providing resources, support, and training programs to individuals who want to start their own businesses. The goal is to empower people to create the jobs of the future.
5. Advocate for Responsible AI Relying on both “Hard Law” and “Soft Law”
AI must be developed and implemented ethically and responsibly. This includes creating policies and practices that allow companies to consider the potential job losses before automating and provide necessary support for workers who are displaced. Lobbying for binding government regulation (hard law) must also be supported by standard setting, policy, and guidelines (soft law)
6.Use AI as your Collaboration Partner
Rather than viewing AI as a threat, we can look at it as a tool to augment and collaborate with human capabilities. With the right approach, AI can free up human time from mundane tasks, allowing us to focus more on creative, strategic, and interpersonal aspects of work. The kinds of tasks AI can automate currently are on the lower end of the skill spectrum. Humans can benefit from freeing up time to pursue the more essential skills required for the AI era. Few employees will become AI engineers or data scientists. However, they can be trained to learn the skills of using AI more effectively in whatever role they play.
7. Prepare for Jobs of the Future
It has been obvious for decades that formal education cannot prepare students for jobs that do not exist yet. While we may not know exactly what the jobs of the future will look like, we can anticipate that they will require a mix of technical skills, creativity, critical thinking, and emotional intelligence. Accomplishing this can involve a range of strategies from shifting education priorities to encouraging interdisciplinary learning and collaboration. Skills based training in these essential attributes can be more valuable than formal education in preparing for many jobs in the AI era.While the advent of AI poses challenges, it also opens up a wealth of opportunities for societal growth and advancement. We need to be proactive in embracing change, fostering resilience, and promoting adaptability in our workforce. This way, we can ensure that the benefits of AI are equitably distributed and that we're prepared for a future where AI plays a central role in our economies.
B. Reshaping Education & Training for the Future
As the specter of AI and automation transforms the working world, we must confront the daunting challenge of preparing our workforce for this new reality. But what if the very technology that is driving this change could also be harnessed to provide the solution? The use of AI as a collaboration tool in reshaping education and training, to better equip our workers for AI-driven industries is an exciting alternative to viewing it as a threat.
1. Personalized Learning Paths with AI
AI can be a game-changer for personalizing education and professional training. By leveraging AI's ability to analyze vast amounts of data, we can create dynamic, individualized learning paths for students or employees. These learning paths can be adapted in real time based on a learner's progress and strengths, ensuring that each person receives the most effective education for their unique needs.
2. Interactive AI Tutors
AI-powered tutors can offer students round-the-clock assistance, catering to a learner's pace and level of understanding. They can assess a student's current knowledge, identify areas of weakness, and provide targeted educational content and practice exercises. In an industry-specific training scenario, such AI tutors can help workers acquire new skills or upskill effectively in their fields.
3. Virtual Reality (VR) and Augmented Reality (AR) Training
AI-driven VR and AR tools can provide immersive, hands-on training experiences, especially beneficial in technical or hazardous fields. From practicing surgical procedures to understanding complex machinery, these tools can simulate real-world situations, enabling learners to gain practical experience in a risk-free environment.
4. AI-Powered Career Guidance
AI can help individuals make informed decisions about their education and career paths. By analyzing labor market trends, job requirements, and an individual’s interests and skills, AI can suggest suitable career options and the required education or training pathways.
5. Collaborative Learning Environments
AI can facilitate collaborative learning environments, even in remote settings. AI tools can coordinate team projects, assist with document sharing, schedule meetings, and even evaluate group dynamics to improve team performance. This fosters a learning culture that mirrors the collaborative nature of many modern workplaces, preparing learners for future professional environments.
6. Data-Driven Insights for Educators and Trainers
AI can provide valuable insights to educators and trainers by analyzing learners' performance data. These insights can help identify common areas of difficulty, effectiveness of teaching methods, and more. Armed with this information, educators can refine their strategies to deliver more impactful teaching.
7. AI Support for Lifelong Learning and Continuous Upskilling
As the nature of work continues to evolve, the need for ongoing learning becomes paramount. AI can help facilitate this by continually identifying new skill requirements in the job market and suggesting suitable learning opportunities for individuals, helping them stay relevant in their careers.
In conclusion, AI isn't just about disruption; it's about evolution and adaptation. The responsible deployment of AI as a collaboration tool in education and training can catalyze our preparedness for an AI-driven world. It is up to us to seize these opportunities and shape a future where technology empowers us to reach our fullest potential.
