Impacts of Ai on Employment

“We will take your jobs,” said Sophia, a humanoid robot powered by artificial intelligence (AI). and the audience of 60,000 world technology leaders at Web Summit, the world’s largest technology conference in Lisbon, Portugal, nervously laughed. Artificial Intelligence combined with Genetics will allow us to modify genes and that will enable humans to avoid diseases. When combined with Nanotechnology we can 3d-print almost any object of shape, size very cheaply. Also, Robots will be doing most of the human tasks. Tasks at Risk Tasks that will be replaced by AI depends on what AI can do and up to what extent and how efficiently it can do and how much cost it takes. AI will take over the tasks or jobs of people which can be automated or are monotonous like customer care operations, telemarketers, compensation, and benefits manager, document classification, Receptionists, Proofreaders, content moderators, Market Research Analysts, Advertising Salespeople, Retail Salespeople. Tasks or jobs at manufacturing or production factories or units will have a huge impact due to AI.

The whole production unit can be automated, from making a product to assembling them. Every job which exits in this sector will likely to be getting replaced by Robots and some intelligence unit. Now we know that AI can process huge data streams in real time, they can record the dynamics of the environment and based on that they can derive inference from it in real time and take very precise decisions. This will able us to produce a driverless car or autonomous vehicles. Now we can imagine how this thing will have an impact on millions of taxi, truck drivers. Legal Profession is another sector that will behave an impact by AI. A person in the legal profession may have tasks like handling and classification of documents, comparisons of documents, summarizing the documents. AI can do these things very efficiently and can replace these jobs in huge number. Now the ability of AI to process the text and deriving summary from it like they do in Legal Profession will also impact Journalism. Report generation, Article writing can be done productively with AI. IBM’s Watson created a chef rob called Chef Watson, which was able to cook new recipes from knowledge of taste chemistry and flavor pairings. So Chefs are also screwed.

Talking of chefs, jobs of waiters at a restaurant are at very huge risk as AI bots can take orders from customers and AI robots can serve the food to customers. Talking of restaurants, their revenues will be at risks because of drones, as drones can be used to deliver foods to a customer at homes. Talking of drones, all the jobs related to the delivery of items can be done without human help. AI can process the data at a very high rate and that be used to make trades faster than humans can, that will take away jobs from financial analysts. Let’s go through an example that will illustrate how AI will impact a specific sector. Remember AI can process huge data, can infer from that very quickly, and can solve very complex problems using their intelligence, and guess what which field need to do all these tasks?? Health Sector. Ever asked the question what the doctor actually do or surgeons actually do? When you visit a doctor what they do is they “test” you. Well, what is “testing you” means hey will collect some data about your body like a heartbeat, pulse rate, temperature, sometimes they take X-ray, few times by themselves and many times by machines or sometimes they will recommend some test like a blood test, Urine test, MRI etc. All these “Doctors” do is that they will collect data and based on that they will tell what problem you have. But how do they come to the point that you have a certain problem? Well as we all know doctors have memorized tons of symptoms corresponding to tons of diseases. And we know that AI can these things very efficiently and easily.

Now, what surgeons do? They also do repetitive tasks, which are predefined and memorized by them. So the surgeon’s jobs are also at risk. Construction Worker’s jobs can be easily carried out with the help of Robot. There are many other sectors which will be impacted by AI. As we can see that penetration of AI is almost in every sector, hundreds of millions of jobs are at risk. Concluding, Why would firms prefer AI over human labor or why so many jobs are at risks? AI doesn’t need a salary, after retirement benefits, insurance, promotions, vacations. They don’t get sick, don’t require health leaves or any health benefits, not months of maternity leave. They are much more productive than human. They can work 24*7. Also, they can learn new skills and that too by themselves. They don’t commit mistakes. Sometimes they can’t do things human can’t achieve to do.

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