AI and Automation: Threat or Opportunity?
As we progress rapidly into the Information Age, the role of artificial intelligence (AI) and automation in the workplace has become a heated debate. Some argue that machines will replace our jobs, while others insist that they will make us more efficient and productive. In this article, we will explore both sides of this argument, discuss how AI can enhance our work experience without replacing us, and provide examples of AI applications that are transforming the way we work.
AI: The Job Taker?
It’s no secret that automation has been around for decades, but the difference now lies in the advancement of AI and machine learning. In the past, automation meant big machines doing repetitive work in factories. Today, they can diagnose cancer, land aircraft, and trade stocks. This new age of automation presents the potential for almost half of all jobs in the US to be automated in the next two decades.
The rapid development of AI and automation presents a challenge for the job market, as new information-age industries are creating fewer jobs than before. As an example, in 1979, General Motors employed more than 800,000 workers, while in 2012, Google employed only 58,000 people. The Internet has created new industries, but they are not generating enough jobs to keep up with population growth or to compensate for the industries that are being replaced.
To better understand the potential impact of AI on job creation and displacement, let’s take a look at some possible scenarios. It is difficult to provide exact numbers, as predicting the job market is an inherently complex task. However, we can make some informed estimations based on current trends and historical data.
Job Displacement:
- Retail: With self-checkout machines and autonomous robots for inventory management, it is estimated that up to 7.5 million retail jobs could be at risk in the US alone.
- Manufacturing: Automation and 3D printing technologies could reduce the demand for human assembly line workers, leading to the loss of approximately 1.5 million jobs in the US.
- Transportation: Self-driving vehicles might reduce the demand for truck drivers, taxi drivers, and delivery personnel, displacing roughly 3.5 million jobs in the US.
Job Creation:
- New Industries: AI can create entirely new industries, such as AI-driven healthcare, AI-powered marketing, and AI-based customer service. These industries could potentially create millions of jobs worldwide.
- Existing Industries: AI could also create new jobs within existing industries. For example, the AI industry itself requires data scientists, AI engineers, and AI ethicists. Additionally, as AI systems become more prevalent, there will be an increased need for professionals who can manage, maintain, and improve these systems.
Using a rough estimation, we could potentially see a displacement of around 12.5 million jobs in retail, manufacturing, and transportation in the US. However, AI’s ability to create new jobs in both new and existing industries could offset these losses, potentially creating millions of new jobs worldwide. While these estimations are far from definitive, they highlight the need for a proactive approach to AI’s impact on the job market.
To minimize job displacement and maximize job creation, it is essential for governments, educational institutions, and businesses to invest in workforce retraining and reskilling programs. This would help workers transition into new industries and occupations, ensuring that they can adapt to the changing job market and contribute meaningfully to the economy.
AI: The Job Enhancer?
On the other hand, AI and automation can make human work more efficient and productive. While machines are excellent at doing narrowly defined and predictable tasks, humans excel at complex and creative tasks. By delegating repetitive tasks to machines, humans can focus on the aspects of work that require creativity, empathy, and decision-making.
For example, my company — Asystly. It’s an AI-based business solution that aims to act as a personal secretary for small businesses that cannot afford to hire a full-time business assistant. Asystly can manage calls, schedule appointments, take notes, and even perform basic bookkeeping tasks. By handling these administrative tasks, we allow business owners to focus on strategy, innovation, and customer relations. Importantly, our solution will not replace any current business assistants; instead, it will provide support for the millions of companies that currently lack this resource.
The Future of Human Work and the Four-Day Workweek
The widespread adoption of AI and automation could potentially lead to a shift towards a four-day workweek. By increasing efficiency and productivity, businesses could achieve the same output with fewer hours of human labor. This shift would result in a better work-life balance for employees, allowing them more time to rest, recharge, and pursue personal interests. A four-day workweek would improve not only - but also has the potential to boost overall productivity. Studies have shown that shorter workweeks lead to increased employee satisfaction, reduced stress, and a decrease in absenteeism.
To achieve a harmonious future, we must find a balance between AI and human work. We need to acknowledge the potential job displacement caused by AI while also embracing the efficiency and productivity that it can bring to our work.
Author’s note: As the CEO of Asystly, Pavel Nikolov, I am passionate about developing AI solutions that empower humans and enhance their work experience. Asystly aims to create a seamless integration between humans and AI, fostering a future where we can work together efficiently and effectively without the fear of job displacement.