There have been many predictions on how AI will affect job markets, but before making wild predictions, it is useful to look back at past technological advancements. In the past, new innovations like steam power, electricity, and personal computers all took 20 to 40 years for their impact on the labor markets to be seen. The Internet and digital spreadsheets took 10 to 20 years. These delayed effects allowed the economy and job market to prepare. However, AI integration has been and is expected to be far faster than that of these other technologies.
This leaves us with two different possibilities concerning the future of AI and the Job Market. Some people believe that AI will displace workers more quickly than jobs can adapt. This may create something similar to the Rust Belt, but in cities across the world. Some think that if AI integration is slower, it will allow the workforce to adapt. If the job market had time to adapt to the use of AI, then it is predicted that fewer jobs would be lost and AI would be more effectively used to assist workers. The World Economic Forum has expressed optimism that, in the short term, job creation will outpace job loss.
Another factor that impacts the speed at which AI invades the job market is the availability of labor. In countries with immigration control and aging populations, some companies are facing difficulties in obtaining labor. This has led to an increase in the use of AI. Japan, where there are tight immigration controls and an aging population, has started uing AI for jobs such as the care of the elderly (robot assistance). The presence of a skilled workforce may, in fact, slow the integration of AI in the workforce.
It is unclear exactly how AI will affect job markets, and difficult to account for all the factors that play into this issue. However, it is clear that it will be essential for the workforce to learn how to integrate and work with AI.
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I think AI feels extremely different compared to past technologies due to how fast it is advancing and how uncertain its impact on jobs are. We may have to start learning how to adapt alongside AI to be able to keep some jobs relevant for humans to work for.
ReplyDeleteAs technology develops, it takes time to train and educate people for new jobs. AI could help bridge the gap by assisting workers who aren’t yet fully prepared for these tasks, making the difference between new innovations and current skills more manageable.
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