Artificial Intelligence May Be Coming For Your Job

It seems that out of nowhere artificial intelligence has become the next big thing, as AI is expected to radically change the world, especially the labor market. A recent Goldman Sachs study concluded that AI’s ascendance would disrupt 300 million jobs. However, proponents of automation claim that new and better jobs will be created, and AI will make workers' lives easier.

Keeping abreast of the fast-moving trend is in the best interests of your career and future. One of the best ways to stay ahead of the curve and ensure that you remain relevant is to adapt to the rapid changes by continually educating and upskilling yourself or asking your employer to enroll you in courses that will enable you to take advantage of the new future of work.

Jobs At Risk Due To AI

As tech companies are in cost-cutting mode, AI could displace professionals that were once highly sought after and highly compensated, like software engineers. Tech jobs, including coders, computer programmers and data analysts, may be in jeopardy as technologies, like OpenAI’s ChatGPT, can do as good or a better job of coding faster than people.

AI-powered chatbots are already used to answer customer service questions and make sales calls. As AI technology improves, telemarketing and human customer service jobs will likely be completely automated. Data-entry clerks will not be needed, as AI software can more efficiently extract data and add it to spreadsheets and other documents.

Jobs that entail interpreting large volumes of information and simplifying it for publication or briefings, like journalists and paralegals, will be vulnerable to automation. AI could also replace creatives, like screenwriters, photographers, graphic designers, artists, advertisers and content creators.

In the not-too-distant future, self-driving automobiles and trucks will displace human drivers. In warehouses, fulfillment centers and factories, many people who pack, lift, schlep and load the goods onto the trucks will no longer be needed. It's only a matter of time until the tech dispenses with tradespeople, who will be laid off from their welding, painting and assembly line jobs. This is a significant concern for blue-collar and frontline workers.

According to an academic research study, automation technology has been the primary driver of U.S. income inequality over the past 40 years. The report, published by the National Bureau of Economic Research, claims that 50% to 70% of changes in U.S. wages can be attributed to wage declines among blue-collar workers replaced or degraded by automation. Artificial intelligence, robotics and new sophisticated technologies have caused a vast chasm in wealth and income inequality. It looks like this issue will accelerate with the mass adoption of AI.

Jobs Being Created By AI

It’s not all doom and gloom. Many people are excited about the potential for AI and all the opportunities it will open up. There will be a need for AI engineers, data scientists and ethicists.

The new economy will require AI professionals to train AI models on large datasets. These people will need in-depth knowledge of AI and data science.

To ensure that machine learning doesn’t spin out of control, companies will look to employ AI ethicists who are responsible for ensuring that AI is used responsibly and ethically. Attorneys will start specializing in legal matters regarding AI.

The Worst-Case Scenario

There is a reasonable concern that AI can create havoc. Geoffrey Hinton, a professor at the University of Toronto and a cofounder of the Google Brain project, is heralded as one of the world’s most respected voices in the development of deep learning, a type of machine learning that has revolutionized AI. In a statement to the New York Times, Hinton announced that he was leaving Google to focus on his research and to speak out about the potential dangers of AI.

In March, Elon Musk and other prominent technologists signed an open letter warning about its potential risks. They called for a pause on AI development and training, as it poses "profound risks to society and humanity."

"Contemporary AI systems are now becoming human-competitive at general tasks,” reads the open letter. “Should we develop nonhuman minds that might eventually outnumber, outsmart, obsolete and replace us?"

How To Manage AI

Regulatory agencies must get ahead of the trend before it's too late. They will need to write rules, regulations and guidelines for AI's ethical and non-harmful development and usage and ensure it's used safely and responsibly or risk punitive repercussions. There need to be mechanisms to offer education, information and updates about AI, so that the public understands what is happening.

Last Tuesday, Sam Altman, CEO of OpenAI, testified before the Senate Judiciary Subcommittee on Privacy, Technology, and the Law. U.S. Senator Richard Blumenthal (D-Conn.) questioned Altman about AI's impact on the job market.

"There will be an impact on jobs, we try to be very clear about that," Altman said. “And I think it will require partnership between the industry and government, but mostly action by government to figure out how we want to mitigate that.”