AI-ARTIFICIAL INTELLIGENCE EFFECT ON JOB MARKET.
We are living in a very desperate time, with the corona-virus pandemic just not yet over, having another pandemic situation to brew up the socio-economic situation. The covid-19 pandemic has almost stopped the wheel of human civilization and put the economy on its knee, causing an apocalyptic situation as millions of people being in jobless conditions over the globe.
While we are still struggling, a new generation of smart robots and machines powered by “Artificial Intelligence” will replace a large percentage of human jobs, says a recent report from the WEF (The World Economic Forum). The WEF has made a dire prediction that artificial intelligence will cost 85 million human jobs by the end of 2025. Every sector of the industry, to some extent, will be compelled to replace human jobs with smart machine to curtail the cost.
From factory workers to office staff, bankers to financial sector employees, human workers seemingly have to either reskilled themselves to coupe up or have to drop the job, really a brave new world.
Predictions over the job curtailment over the globe:
Let’s look more deeply into the predictions of the research organizations, Stallworth visionaries, and renowned industrialists who are trying to make us prepared regarding the coming turmoil larking over the job market worldwide. We are summarizing a few predictions as listed below.
- In the year 2013, Michael A. Osborne and Carl Benedikt Frey, two researchers from Oxford University, first predicted job curtailments due to the rise of the “smart machine” and “Artificial Intelligence” would be near about 47 percentage in the United States, a pioneering work indeed.
- Near about 20 million jobs in the manufacturing industry over the globe could be replaced by the “robots”, says a report from “oxford economics”, an eminent analysis firm.
- The graph representing “number of jobs” will certainly go down by somewhat 9 to 47 percentage, says a joint study from OECD (Organization for Economic Co-operation and Development, university of oxford and PwC (PricewaterhouseCoopers).
- Kai-Fu-Lee, the founder of “Sinovation Ventures”, a venture capital firm, several times warns us that “Artificial intelligence” and “robots” are likely to acquire near about 50 percent of the jobs within 10 to 15 years.
- A recent report from McKinsey says that 800 million jobs will be claimed by the “smart machines” powered by Artificial intelligence by 2030. The United States can lose more than 54 million human jobs to the “smart robots”, the undeniable effect of the rise of “Artificial Intelligence” claimed by automation.
- Last not bust least, Mr. Elon Musk, the biggest tech-guru of this era, has prophesied that “AI will make jobs pointless.”
There are many more studies, like the above-listed ones, that can be quite relevant to discuss as all of those studies are trying to sort out the type of jobs that are most likely to be automated and replaced. Let’s try to dig up a bit of detail to find out what type of jobs are most likely to be replaced by automation.
Type of Jobs to be replaced by automation:
The above prediction has enough to engage everyone to find the category or type of jobs that are mostly replaced by automation. Everyone is desperate to calculate how secure his/her job and the future are in turn. Though, it has also been a subject of these studies to speculate which types of occupations are completely susceptible to automation and AI and which are partly vulnerable. This topic is also trying to draw a line between completely vulnerable job-type and less vulnerable job-type.
Below is the list of jobs that are most likely to be replaced by the rise of automation.
Driving jobs (taxi, bus, etc. ….)
Semi-automated driven vehicles do not exist only in theories and sci-fi stories as “Tesla” has made it available even in the reach of the general public. Researchers and scientists are speculating that fully automated vehicles are most likely to come in the reality very soon. If it is true, around 3 million driving jobs in the USA only will be claimed by smart machines.
Doctors and healthcare services :
The above statistical figure is making the speculation quite clear how much this industry is vulnerable with the rise of smart robots powered with Artificial intelligence. We all have seen “robotic surgeons” in sci-fi movies. But, it is partly reality now and will experience full-fledged robotic surgeons very soon. Even nowadays, we are experiencing smart machines powered by AI helping doctors during surgery. The renowned tech-visionary and “Silicon valley investor”, Mr. Vinod Khosla, has warned us all that human doctors will be history with a decade as smart robots will claim their jobs.
AI efficiently, quickly, and perfectly handles large data involving past and current medical history, laboratory data regarding the patient to predict and recommend the steps needed, assuring cost-effective and accurate treatment. Hence we can fear not only doctors but also lab assistance jobs are also at stake in the coming days.
Telemarketing jobs :
Another type of job that is really at stake. Replacing human telecaller with the smart machine will be very cost-effective and “robots” do not get tired. Even we have started listening to recorded machine voice nowadays.
Factory workers :
This is going to be one of the worst-hit industries in the coming days. Robots will replace human workers. Robots don’t get tired. Robots do not make mistakes. Robots do not strike. So, using robots instead of human workers will speed up production, decrease defect rate, reduce cost and increase perfection.
Hence, in the future, manufacturing companies will go for total automation. Many workers will be jobless. Even, many renounced automobile industries over the globe have already started to implement smart machines powered by AI to increase profit.
Human proofreading jobs are at stake. There are many proofreading software and apps are found nowadays to do tedious jobs very easily. Finding grammatical mistakes, spelling mistakes and errors in punctuation is a very easy job for AI. The use of these proofreading Apps is nowadays in very demand for cost-effectiveness and ease of use, leaving many people jobless.
Receptionist – jobs
In Belgium, robots powered with AI are handling reception duties efficiently in two hospitals. Is it sounding crazy? No this is the reality. With the advent of an automated phoning system and automated touch-screen system, the job of human receptionists are at stake. Many modern companies are quite capable to afford this cutting-edge technology, the rise of AI-based “Robo-receptionist”.
The above scenario is quite enough to render us sleepless nights. But, still, we can see a ray of hope. The job loss will certainly vary by industry, say many experts. So, many sectors will certainly face the worst scenario in the beginning, manufacturing sectors being the worst hit among those. But, AI will open a wide range of new opportunities, many more positions even in the entry-level, middle level, and highly skilled management level.
In our coming article, we will certainly discuss the new opportunities created by AI, the harbinger of a new era. So please stay tuned with us.