Rise of AI Set to Bring Mass Unemployment

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.