The rise of artificial intelligence is posing serious challenges to relevance of human labor in the job market. Machines have replaced human physical labor ever since the commencement of first industrial revolution.
Today it has gone beyond the mental faculties of people to make sense of certain technological complexities and AI is being invoked for rescue.
Artificial Intelligence is massively replacing human mental and cognitive labor across the entire industrial landscape. Machines are displaying far more superior skills than human beings and outperforming them in certain areas.
Technologists and futurists are laying down very strong predictions for disappearance of millions of jobs to the intelligent machines over next few years. Objective analysis of the futuristic technological trends reveal that AI will create a class of unemployed people across the globe.
Watson is a supercomputer that famously beat human contestants in the US TV show Jeopardy five years ago. IBM’s Watson was the largest research project of the company that has now transformed into the most advanced AI platform.
Apart from many other applications IBM Watson provides cloud based predictive analytics for business insights. Users can ask natural language questions and visualize their data patterns with the cognitive computing services embedded in Watson’s analytics engine.
Expansion of Watson across multiple industries over the next few years is the strategic business objective of IBM. Massive disruption caused by a single AI research project is an overwhelming event in the new machine age.
Such AI platforms are also triggering a new era of competition between humans and machines over low and high skill jobs in the marketplace. Human beings with all their biological limitations will not remain the best choice for employers against the endless possibilities of intelligent robotic machines.
The prime motive of capitalist economy is profit and it has been driving the industrial engine for many decades.
AI engineering, industrial and business models have huge potentials for the profit motive. Employment of AI in businesses is a resource efficiency multiplier that can enhance the business gains.
This all is coming around at a huge cost of massive disappearance of human labor.
We need a compelling economic vision that delivers to the human employment needs in this era of new machine age; or else we will witness the demise of human relevance in economic, social and political realms.
We also need an economic game plan that discourages monopolies and ensures larger human good through collaboration across the national borders.
In this context, we are beginning to glimpse the emergence of new economic model on to the world stage known as “collaborative commons” that laterally scales the economic activity.
Technological revolution in the context of AI is so powerful that it is transforming the ways in which we organize our social, political and economic lives.
We need a pragmatic approach for tackling the challenges of disruption in the job market.
Perhaps we will have to redefine, restructure and reconstruct our educational system at lightning speed that can embed those technological skills in our future generations, which are relevant in the new machine age.
This is the biggest issue of our age. Unfortunately Pakistanis don’t even know what AI is doing nowadays. Just think the way driver less cars are coming up. The way AI is advancing, the time isn’t far when drivers, waiters, writers and machine operators are all going to loss jobs. A time would come when the AI would be able to code itself, design itself and manufacture itself. At that point only CEO’s of rich companies would have the job. All other engineers, designers and programmers would go out of job. The only thing that confuses me is who would be able to buy basic life products made by AI. When no one would have money to buy it except for the owners of AI. The world economy would collapse. THE END !
You explained it quite well. Renowned people like Stephen hawking and Elon Musk have warned the risk AI. Not only loss of jobs AI will also cause the end of humanity.
while chay people like mark chuuserberg think that AI centric concerns are false alarms. someone tell him that creator of klashnikov rifle made it to bring peace to the world hahahah
Elon Musk recently slugged it out online over the possible threat artificial intelligence might one day pose to the human race.
Thanks to AI, computers are learning to do a variety of tasks that have long eluded them – everything from driving cars to detecting cancerous skin lesions to writing news stories . But Musk, the founder of Tesla Motors and SpaceX, worries that AI systems could soon surpass humans, potentially leading to our deliberate (or inadvertent) extinction.
Definitely AI will take the dominant form of intelligence and entire control of the planet away from human race.
Rightly Said. One significant danger AI posses is to innovations. I believe it can never replace a human innovative mind. Hence propagation of AI means loss of Innovation.
But as you know most of the advanced economies are facing the issue of ageing population which is resulting a loss of Labor force (japan & Germany) so to sustain their economy these countries must have to rely on AI or accept Immigration (which most resist)
Due to aforementioned factor and many others the future of AI is unfortunately bright
While it’s true that AI will replace jobs, what’s more important is to realize that it will also create jobs. As with the industrial revolution, while it automated a lot of the manual work (think tractors, cars, lawn mowers etc.) it also created jobs in factories. Same is the case here. Technology advancement will definitely make some jobs redundant (especially the mindless, repetitive work that machines can perform better like data entry, analyzing pictures, identifying simple anomalies) but it will also create more jobs for people with better skills.
What will end up happening is that the value chain will become stronger and people would need to upskill themselves to stay relevant. In the end, the average salary should increase with advancement in technology. We are still light years away from a rise of the machines scenario and all the big players in this field are cognizant of that fact and will ensure humans don’t become extinct! If there are no humans left, there won’t be any CEOs either :)
When the Industrial revolution occured people thought that jobs would be gone and it did happened for a decade. But after that humans recognized the fact that they need to learn the right skills in order to survive.That’s why the jobless gap closed. But in the case of Robots it’s totally different. Only the engineers who would make these robots or learn their maintenance would benefit. At some point AI would take over those pesky engineers as well. The basic AI would be introduced in 2030 but the concept of rise of machines is not near. It might take less or more.
very informative blog sir SYED FAHEEM ABBAS i am totally agree with you,our population is increasing very fast day by day,and with short resources we are not making a profitable and up to the mark human labour for market so it will also encourage business community to get advantage of machines which ill be very helpfull to them from every aspect.