Artificial intelligence has started to make a real impact on the world by replacing human jobs and making some business models obsolete. We take a look at this week’s biggest AI news and identify the biggest losers in the AI race.
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The long-standing argument against AI fully replacing humans has been that the technology doesn’t yet possess the emotional bandwidth and cognitive ability that humans have. But we are a daily witness to the growth of artificial intelligence in areas of art, medicine, and scientific research.
In light of these changes, there is growing concern about the future of employment worldwide. Surveys suggest that one-fourth of all jobs are at risk of being automated, which understandably makes people worry about job security. However, there is evidence to suggest that the impact of automation may not be as dire as some may fear.
Contrary to popular belief, the automation of jobs is not necessarily synonymous with the elimination of jobs. Instead, it is likely to change the nature of occupations by taking over easy and repetitive tasks, which will free up employees to focus on work that requires higher-level interpersonal skills. This shift is expected to create a demand for workers who are skilled in areas such as communication, problem-solving, and critical thinking.
In conclusion, the nature of labor is evolving at an unprecedented pace due to the rise of technology. Automation and AI are transforming the types of jobs available in many industries, creating new opportunities for workers with higher-level skills. Although there may be concerns about job security, the impact of automation is expected to change rather than eliminate occupations, providing a chance for workers to develop new skills and remain relevant in an ever-changing job market.
The company will pause hiring soon, and expects up to 30% of non-customer-facing roles will be replaced by automation in the next five years.
IBM chief executive Arvind Krishna said the company expects to pause hiring for roles it thinks could be replaced with artificial intelligence in the coming years.
We’re not in favor of any jobs going solely to robots. But if any jobs should be automated, it should probably be those of the CEOs.
The quarterly reports by these tech behemoths show their efforts to increase AI productivity in the face of growing economic worries.
The US tech giants like Alphabet, Microsoft, Amazon, and Meta are increasing their large language model (LLM) investments as a show of their dedication to utilizing the power of artificial intelligence (AI) while cutting costs and jobs.
Since the launch of OpenAI’s ChatGPT chatbot in late 2022, these businesses have put their artificial intelligence AI models on steroids to compete in the market, CNBC reported on Friday.
Continue reading “Google, Microsoft, Amazon, & Meta put AI on steroids while cutting jobs” »
As highlighted in a recent article, the release of ChatGPT in its various guises, along with numerous other generative AI-based technologies, has heralded a flurry of articles, studies, and headlines lauding the often catastrophic impact such technologies will have on jobs and society more broadly.
It’s the kind of simplistic and often doom-laden narrative that so often thrives on social media. As Greg Berman and Aubrey Fox remind us in their recent book Gradual, however, change seldom happens rapidly and almost never happens in such a linear fashion.
The study surveyed executives from 200 large companies and found that while most recognized the importance of new technologies, many were unrealistic about their ability to transform their businesses. The survey revealed that companies that took a more measured and realistic approach to technology adoption tended to be more successful.
Continue reading “We Need Caution When Predicting The Future Of Work” »
Clearlink CEO James Clarke has drawn attention for praising an employee who gave up a family dog to return to the office, but his A.I. comments are also timely.
In Silicon Valley, some of the brightest minds believe a universal basic income (UBI) that guarantees people unrestricted cash payments will help them to survive and thrive as advanced technologies eliminate more careers as we know them, from white collar and creative jobs — lawyers, journalists, artists, software engineers — to labor roles. The idea has gained enough traction that dozens of guaranteed income programs have been started in U.S. cities since 2020.
Yet even Sam Altman, the CEO of OpenAI and one of the highest-profile proponents of UBI, doesn’t believe that it’s a complete solution. As he said during a sit-down earlier this year, “I think it is a little part of the solution. I think it’s great. I think as [advanced artificial intelligence] participates more and more in the economy, we should distribute wealth and resources much more than we have and that will be important over time. But I don’t think that’s going to solve the problem. I don’t think that’s going to give people meaning, I don’t think it means people are going to entirely stop trying to create and do new things and whatever else. So I would consider it an enabling technology, but not a plan for society.”
Continue reading “We all contribute — should we get paid for that?” »
