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AI and Robotics to Create More Jobs Than They Will Destroy
The critics see AI and robotics as something that are supposed to snatch jobs from humans. According to a report from the World Economic Forum (WEF), even though machines are dominant at performing tasks compared to human beings, AI and robotics will create more jobs than they will destroy.
The significant shift is due to the type of work people will do in the future. Emerging technologies are predicted to wipe out 75 million jobs from the economy. However, the shifting dynamics between machines and humans will also add an estimated 133 million jobs. Most workplaces have an element of repetitiveness which can be replaced by automation systems.
Evolution in the workforce is bound to happen. The traditional permanent and part-time structure is bound to be replaced by more flexible arrangements. Freelancers have disrupted the industries, and the effect is conspicuous in the gig economy.
Labor forces will require training to acquire new skill sets in the new machine/human relationship. Machines currently perform 29 percent of tasks at the workplace, and the numbers are predicted to increase up to 42 percent by 2022.
Concrete numbers and hard facts are present in the WEF report. 300 global companies in a wide range of industries with human resource officers, strategy executives and CEOs participated in the survey. These companies represented 70 percent of the global economy with 15 million employees and 20 developed and emerging economies.
Software engineering, data analysts and user experience designers across Western Europe have witnessed the change between 2013 and 2017. Artificial intelligence is highly critiqued by experts, and they claim that AI will replace millions of jobs in the next decade. Still, many executives believe that AI will create new jobs. An analysis from a global audit firm PwC predicted something similar. They said that AI and smart automation would boost productivity and build better products and services. Some jobs will be displaced or fundamentally changed in nature; new jobs will be created and will impact the economy positively.
This is all a part of the Fourth Industrial Revolution and it refers to the new ways technologies will alter the way people live, work and interact with each other. Governments, companies, and employees need to work in sync to tackle skills shortage that might occur due to automation.