Jobless Future? – How AI Will Transform the Job Market Landscape

The rise of AI is not a sci-fi movie anymore. It’s a fact, and it is already changing the job market. There are two ways to tell this story to someone who’s not aware of the details. The one CEOs see and the one that employees see.

In this article, you’ll be able to read more about how the future is shaping under the influence of AI. Follow up if you want to know more, but if you’ve already started panicking about losing your job, please don’t. The artificial intelligence statistics across all industries say that it’s still early for a more severe impact on the everyday worker, but things are moving fast.

What exactly is AI?

There are more theories about the beginning of AI as a concept. Some say it dates back to prehistory, where myths spoke about artificial beings made by humans. Others hold on more to science and point to Alan Touring’s book from 1950 called “Computing Machinery and Intelligence.”

Whatever history we accept, it’s a fact that today’s artificial intelligence is connected with super-smart and ultra-fast computers capable of learning. It is deeply connected with the ability of computers to act and think like humans. An AI computer is more than just a screen and a keyboard. It’s a device that processes information through listening, seeing, and accordingly responding to it.

The numbers behind the AI growth

The AI business has not present on the market for too long. The beginnings were recorded in 1998 when the Deep Blue chess AI program managed to beat World No. 1 – Gary Kasparov. Since then, and especially in the last decade, the AI growth records only bigger and better numbers. Here are a few examples of artificial intelligence statistics:

  • In the last 20 years, enrollment at Stanford University for attending AI courses increased by 4.500%.
  • US AI engineers make $169.930 on average.
  • The revenues from AI in 2018 were 1.62 billion, and by 2025 it’s expected to reach 31.2 billion.
  • This year, it’s expected AI robots to take the jobs of 1.8 million people, but at the same time, it will generate 2.3 million other jobs.
  • In the next two years, AI will take over 75 million jobs and generate 133 million new ones.

These few stats show exactly how vital the artificial intelligence business is. The numbers never lie. The artificial intelligence market will grow at a swift pace and will change the face of all industries from the core. Those who can adapt will profit from it. The others will have to face the inevitable.

Predictions say AI will create jobs rather than take them

Artificial intelligence is going to reshape the business without a doubt. As the stats suggest, the jobs of millions of people will no longer be needed in the future. The good thing about it is the more jobs vanish – the more will be created.

One of the industries where AI is widely used is e-commerce. The Ai-driven chatbots are saving companies around $8 billion every year. Employees working as customer support are going to fade away because computers will take over their jobs slowly.

Marketing is also profoundly affected by it. One of the key points in successful marketing campaigns is understanding what customers need and want to see. With the help of AI, ads on social media can be tailored based on customers’ behavior. AI-driven software will follow tons of users, see how they act, and then offer types of commercials that may interest them the most. Some companies are already using this strategy.

Still, automation will open new jobs. Sectors like development, programming, engineering, and industries connected with creating and maintaining AI robots will see a rise in demand much more significant than it is now. Also, fields that are now depending on human work, like teaching, healthcare, cleaning, labor works, social jobs, etc. are still going to have the same demand.

What is the best and worst-case scenario?

What people fear the most when AI is in question is probably because of Hollywood. The movies where robots take over the world are always popular among sci-fi movie lovers.

However, if we’re more serious about it, we could say that the worst-case scenario is that millions of people could be left on the streets jobless. The unemployment rate in the next few years may see a drastic rise in percentage. All the people whose jobs won’t be necessary anymore will have nowhere to go. Riots might spark, and violence may cost people’s lives.

On the other side, AI will create millions of new job positions. All those people that lost their jobs will need to retrain, get a new job that will also most probably be better paid. For this, lots of tutors, educators, and experienced people in these business fields will be needed. If it is done right, it will create a much better environment and more highly paid jobs.

AI-driven computers are already working for us

Did you know that AI is everywhere around us? It is, and you’re probably not even aware of it. A lot of cities around the world are experimenting with learning software that can control the traffic lights.

Other industries that you probably don’t know are using AI for marketing, retail, drones, security, analytics, vehicles, healthcare, and others. One of the most important fields is healthcare, where AI computers are now able to detect cancer in much better precision than the highest trained and experienced radiologists. This helps people detect cancer earlier.

Conclusion

The points above clearly explain what the possible paths of the AI industry are. No one can predict what exactly will happen, but if social services take this issue seriously and work on the problem, we might not end up with a jobless future, but the complete opposite. Only time will tell, but if you’re in the endangered industries we mentioned above, it’s wise to start learning some additional skills.

 

1 thought on “Jobless Future? – How AI Will Transform the Job Market Landscape”

Leave a Comment