Impact of Artificial Intelligence on Employment
Artificial Intelligence (AI) is a simulation of human intelligence using of medium such as computer systems and other machines. AI process express earn of information using reasoning to reach conclusions and self-corrections.AI systems are being developed for the one purpose of amplifying human potential through machinesâ€™ adoption of human like cognitive abilities so this increased productivity and reduced cost. These technologies applied in various industries including healthcare, financial services, advertising, and manufacturing. The adoption of AI by employers has had a significant impact on employment, by replacing human labor in performing certain tasks, but it also led to growth of technology related industry segments so creating new job opportunities for graduates and young professionals. In the workplace, AI can be weak or strong depending on the task it is trained to do. Some of these systems such as virtual assistants like Appleâ€™s Siri and Amazonâ€™s Alexa are trained to only perform a particular task. On the other hand, some other systems can be stronger as they gain use of more complex abilities. Most companies now have access of AI as a service (AIaaS) though cloud offerings including Google AI and Amazon AI (Frontier 2). In terms of job, AI can be classified into reactive machines, limited memory, theory of mind, and self-awareness systems. These AI function systems make it possible to change lanes. The last decade has seen significant development where most of the science fiction dream on human like machines is slowly becoming a reality, and it has an impact of employment both side positively and negatively.
According to a report by Stanford University on â€˜Artificial Intelligence and life in 2030â€™, the impact of AI on each job sector will be different (stanford.edu 23). The article shows that there will be a shift in distribution of jobs as job descriptions and tasks change. The study foresees a 20% increase in employment opportunities in sectors such as health care. However, jobs in manufacturing will likely experience a 25% decrease in human employment opportunities as AI takes over most of the processes. The transport and storage sectors will also experience a decrease of at least 15%. Moreover, The study recommends that people invest in science, technology, and engineering skills in order to be able to complement AI systems. The report advises that employees should always be open to embracing change, and should be ready for needed skill advancements and training, especially on how to use certain technologies to improve productivity. According to research findings, at least 47% of the US workforce is at a risk of being computerized, thus leading to unemployment (Javier Andreu Perez 5).
On â€˜impact of artificial intelligence on employmentâ€™, report. In â€œImpact of Artificial Intelligence on Employment,â€ technological development generally impacts the labor market (Frontier 1). The impact of these technologies can be value through the currently developing policies which entail promotion of an active labor markets, offering benefits to employers, society, and the workers (Frontier 13). Also, technological change leads to loss of jobs by displacing employees from tasks which they previously performed, and through an increase in jobs which arose as a result of this technological advancement.
According to a the Cornell University study, AI amplifies human potential and increases productivity. This reflects an increase in investments across employers. Robot application in surgery, rehabilitation, or in personal care is likely to increase in the next 10 years, but it will have a high cost influence on the health industry, but this will even out in future as employers cover the fixed costs and begin experiencing lower cost of labor in the long term (Javier Andreu Perez 4). These long term returns in investments are the reason why most companies are heavily investing in speech recognition, computer vision, and natural language processing. This is especially influenced by a need to build significant improvement in service provision and reduce cost. Technology companies such as Microsoft, Apple, Amazon, Twitter, and Facebook have defended defend these technologies by setting industry trends on replacing basic human tasks with auto machines.
As per the above research findings, AI technology can be useful in various aspects of work setting, and can improve tasks. In modern workplaces, AI is applied and used in all departments. In business management, for example, AI has been utilized in automating most of the processes, as a personal assistant such as Google Now and Siri, converting voice to text, automated responses to customers through mails or voicing, in forecasting sales and revenues, automation of insights by financial service companies and departments and purchase prediction.
The idea of replacement of human labor with Artificial intelligence and robots has generated a lot of interests in the last few decades. While some claim that a substantial share of human labor will be replaced by computers and robots, other people view are Artificial Iintelligence as a tool of enhancing human skills, thus enhancing human productivity. Productivity growth has especially grown since 1990s, and much of this productivity is refer to information technology revolution. The effect of Artificial intelligence and Robotics are especiallyareis especially felt in todayâ€™s Fourth Industrial Revolution, and has become the future of our economy.
In my opinion, AI adoption in the workplace presents both opportunities and challenges. While AI increases automation and decision making, it also carries a series of risks including high levels of unemployment since these machines can easily replace human labor.
Based on personal observations, AI and automation seem to have released humans from monotonous tasks so making it possible for people to do more meaningful jobs which bring about more satisfaction. In addition, AI simply improves products and services, but does not replace humans who use it on a daily basis. Therefore, it is possible that current fears are only based on popular culture due to unrealistic expectations.
Based on my view of various industries, AI seems to be creating a need for employees to be more informed on various technologies. Unlike before when most work related problems were solved using human skills, problems are now being solved using machine learning and artificial intelligence. However, even though most processes are being automated, humans as at now still have an advantage over robots, since they are needed for ultimate completion of processes which are now being complete by machines.
Today, AI impacts employment in various industries as follows:
Legal Industry. In legal tasks, AI can be useful in a wide range of tasks including legal discovery through the ability to fully arrange documents through use of various algorithms..
Data entry jobs are however at a greater risk of being replaced and extinct. Most employers are likely to adopt AI technologies in formatting jobs from one place to another and in compiling it into one place. Unlike human labor data entry which is likely to have a few typos and errors, automated systems are likely to make fewer mistakes and are more efficient.
Financial services. Financial tasks such as financial analysis are at a high risk of being taken over by AI. Just as it is with human financial services, computers can now spot patterns and engage in trade faster compared to humans. This is supported by research findings that 30% of financial sector jobs, especially banking sector professionals, will be taken over by AI by year 2030(stanford.edu 3).
Marketing and advertising. AI has especially affected telemarketers and customer service assistants. Chabots are slowly becoming smarter. This includes technologies such as Google home and Amazonâ€™s Alexa which have taken over customer service assistance. These new technologies are not good for individuals working in the affected fields.
Food industry. Technologies such as IBMâ€™s Watson technology which can generate a new recipe due to its ability to taste flavoring also impact employment of chefs who make a living creating these recipes. In addition, Robotics are capable to preparing and serving means at a speed which human chefs are yet to achieve.
Health care. In health care, AI is currently very beneficial in diagnosing diseases and is especially applied in wearable devices. In future, AI is quite promising in various aspects of health care, including robots helping carryout surgery. In the near future, all aspects of patient diagnosis might also be managed by machines. This will impact medical professionals, by helping cover current skill gap in the industry.
To sum up, modern technology of AI has prompted employees to learn new skills, including how to use AI systems. This has led to smooth in completing certain tasks effectively and efficiently. However, there has been understandable fears that this technological advancement could eliminate specific jobs. However, some of these concerns are not entirely true because,; Eeven though AI has eliminated certain jobs, it has also created more jobs as new technologies come. These fears could, however, be well founded in future because As at now, AI is still at its initial stages so there is a likelihood of more advanced AI systems being developed, thus matching up to humans in terms of cognitive skills, and making it possible for them to perform human tasks which require high skills.
Frontier. â€œThe impact of artificial intelligence on work.â€ Frontier Economics,vol. 69, 2018.
Lu, Huimin, et al. â€œBrain Intelligence: Go beyond Artificial Intelligence.â€ Mobile Networks and Applications, vol. 23, no. 2, 2018, pp. 368â€“375. DOI:10.1007/s11036-017-0932-8
Perez, Javier Andreu, et al. â€œArtificial Intelligence and Robotics.â€ 2018.
Petropoulos, Georgios. â€œThe impact of artificial intelligence on employment.â€
bruegel, vol. 14, 2018.
The research is above:
I just need to summarize the intro and make it stronger, feel free to change whatever you say it wrong grammar , info ect.
add one more source it has to be an article and cite from it.