Artificial Intelligence in the Labor Market

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Technology has taken a dramatic leap forward in the last 100 years, taking center stage in every industry. All the people in the world face technological advances: some are more affected by them, while others are confused by technology. Nevertheless, progress is happening almost every day, and the leading player in this field is artificial intelligence. What is this machine, and why has it already infiltrated human life? Where do its competencies begin, and when does its influence end? These are the questions that computer scientists and inventors who want to move progress forward are asking. But more importantly, outline the ethical component and address the central question: will artificial intelligence replace humans? There is no single answer to the question because it affects several areas of human life at once.

Artificial Intelligence is an intelligent machine capable of performing many tasks thanks to unique coding. The coding sets parameters and algorithms that lay the groundwork for functioning, and then the AI builds on them with new ones. This sort of thing seems handy and valuable until the AI begins to perform all of humanitys functions, from working in a factory to selling a phone. There will probably be no complete mastery of human life by machines, but no one can underestimate the impact of AI. The market economy, political mechanisms, and health care system situation lead to a narrower question: what impact will widespread AI have on humans? Intelligent machines work in many industries and change peoples lives, but what if the moment comes when AI starts to harm humanity?

Artificial Intelligence is no longer a technology of the distant future since it is quickly being improved, and the job market will become the first area to be radically transformed by AI. First of all, it is important to define the notion of AI. According to research, Artificial Intelligence can be described as a computer system capable of executing tasks such as decision-making and prediction (Agrawal et al., 2019). In other words, AI constitutes a machine-based alternative to peoples intelligence and ability to engage in complex cognitive activities. As research shows, the further advancement of AI is expected to cause unemployment in the skilled labor market to increase (Lu, 2021). Such data can be explained by the fact that AI is primarily intended to solve comprehensive issues and tasks, which are usually in the purview of skilled workers.

As a result, the growth in the use of AI will cause more people to change their jobs and seek alternative employment options. Moreover, AI is forecast to replace more than 30% of jobs, including white-collar positions such as market research analysts, accountants, and auditors (Chelliah, 2017). Essentially, millions of people will risk losing their jobs due to the adoption of AI by businesses and will have to experience a career change shortly. Additionally, researchers outline a possibility that AI also, to a certain extent, will replace tutors and educators and will also adjust curriculums to each students needs (Chelliah, 2017). Under such circumstances, society has to implement certain mechanisms to avoid facing a considerable socio-economic crisis due to the radical changes in the labor market. Therefore, one of the possible solutions developed by researchers is the introduction of basic-income programs and the imposition of taxes on industries utilizing AI (Bruun & Duka, 2018). Such policies will potentially help governments to reduce the impact of AI advancements on the economy and lives of people.

On the other hand, the very ability of an AI-based system to replace human workers is a matter of heated debate. From one perspective, there are cases of technology taking the place of people, resulting in job shortening. Such a situation has been observed since the end of the 20th century when robots were implemented to work at conveyor belts and other production sites (Borland & Coelli, 2017). Nevertheless, this particular scenario is associated with manual labor, which does not imply intense cognitive activities. Instead, robots handle routine tasks, in which they have an unquestionable superiority over weaker human bodies. Moreover, Borland and Coelli (2017) argue that the pace of structural change and job turnover in the labor market has not accelerated with the increasing application of computer-based technologies (p. 377). In this regard, it may be possible that the technophobic ideas are exaggerated.

However, artificial intelligence is an entirely new step toward the use of technology. In an optimal state, its range of applicability extends robots by far, making it possible to delegate even complex planning and decision-making tasks to a computer. As a result, humans will experience a job shortage of an unprecedented level that pales in comparison to the use of robots for manual labor. In this case, the superiority of computers in such positions is not as undisputed. Their computing power and the ability to process immense amounts of information may, indeed, help to make data-driven forecasts and decisions. Nevertheless, even a fully developed AI will lack the inherent features of an advanced human mind, the list of which includes emotional intelligence and reflexivity. This is why Jarrahi (2018) suggests that the key to the future is not a competition but symbiosis. An effective nexus of artificial and human intelligence may form a synergy that will yield outstanding results in the new age of development.

Overall, the continuous improvements in terms of developing artificial intelligence make render this technology close to reality. Previously, it could be seen as an element of science fiction or a distant invention, but now AI is as close to completion as it can be. The full implementation of this technology will mark a milestone in humanitys scientific development, while profoundly transforming the landscape of most industries. The role of artificial intelligence in labor relations is projected to be of unparalleled importance. In other words, the lives of most people will see an effect of this invention, which is why relevant research is a subject of paramount importance for society in general. As per its definition, an AI is a computer system that can predict various outcomes, performing self-learning and decision-making in addition to the usual preprogrammed task execution processes (Agrawal et al., 2019). In a way, AI is to mimic the pinnacle of natures design which is human intelligence.

The development of such advanced technology is expected to cause repercussions for the labor market. As computers become capable of complex cognitive processes, unemployment within skilled professions is likely to increase. Outweighed by the computing power of AI, up to 30% of employees will have to seek another area of expertise, which translates into millions of people. As experts and researchers remain centered on the capabilities of artificial intelligence, a logical question arises of whether there should be human-made limits to it. It is recommended that future research takes into account the full specter of AIs potential impact on humanitys employment and professional expertise. While such limitations do not align with the overarching concept of AI, they may be necessary to preserve the integrity of society and help it transition to the new reality with fewer losses. With them in place, humanity and AIs can potentially work together on a predictable basis, forming a positive synergy of efficient, data-driven decision-making.

References

Agrawal, A., Gans, J., & Goldfarb, A. (2019). Artificial intelligence: The ambiguous labor market impact of automating prediction. The Journal of Economic Perspectives, 33(2), 3150.

Borland, J., & Coelli, M. (2017). Are robots taking our jobs? The Australian Economic Review, 50(4), 377397. Web.

Bruun, E., & Duka, A. (2018). Artificial intelligence, jobs and the future of work: Racing with the machines. Basic Income Studies, 13(2), 115. Web.

Chelliah, J. (2017). Will artificial intelligence usurp white collar jobs? Human Resource Management International Digest, 25(3), 13. Web.

Jarrahi, M. H. (2018). Artificial intelligence and the future of work: Human-AI symbiosis in organizational decision making. Business Horizons, 61(4), 577586. Web.

Lu, C. (2021). Artificial intelligence and human jobs. Macroeconomic Dynamics, 25(8), 140. Web.

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