The Dark Side of AI | Everyone Needs to Pay Attention to this!

 

The use of artificial intelligence (AI) is changing how we work and live. AI has the potential to be useful for a wide range of applications, from self-driving cars and predictive analytics to virtual assistants like Siri and Alexa. Yet, worries about how AI may affect the employment market have also arisen as a result of its ascent. Machines are increasingly capable of carrying out duties that were previously performed by people as they get more advanced. This has caused job displacement in numerous areas, raising concerns about the nature of labour in the future.

Manufacturing is one of the most visible instances of how AI is transforming the labour market. As a result of machines' capacity to do activities formerly undertaken by humans.

AI will also have a significant influence on the transportation sector. Self-driving automobiles and trucks represent a danger to the millions of individuals who work as drivers today because they have the potential to fundamentally alter how we move. Based to a study done by the Center for Global Policy Solutions, the roll out of autonomous cars could result in the loss of up to 4 million employment in the United States just.

AI is influencing the retail industry as well. The development of online purchasing has an impact on the employment of retail workers as many brick-and-mortar establishments close. Additionally, AI is being used more and more to customise shopping excursions and provide product suggestions, which can lead to a reduction in the demand for sales personnel.

Healthcare and finance are not impervious to the impacts of AI. In healthcare, AI is being used to diagnose illnesses and design treatment plans, perhaps displacing many medical professionals. In finance, artificially intelligent technology (AI) is utilized to evaluate financial information and make investment choices, possibly decreasing the demand for financial analysts.

Furthermore, certain categories of employees will be disproportionately affected by job displacement brought on by AI. For instance, workers with low skill levels are more likely to be laid off than individuals with high skill levels. The result could be a more polarised community and an increase in income inequality. Additionally, employees in some areas might be more susceptible to losing their jobs than those in other areas, thereby exacerbate regional economic disparities.

To address the potential effects of AI on the labour market, politicians and entrepreneurs will need to act. This may mean supporting educational and training programs as well as establishing laws to help displaced workers in obtaining the skills necessary to engage in the new employment market. Governments may be required to give retraining programmes plus financial aid to moved workers.

In order to determine the skills that will be in demand on the employment market in the future, industry and academia need to work together more. To achieve this, we must change the way we view schooling and training. We need to consider how we can offer lifelong learning opportunities that will allow workers to adapt to the changing job market throughout their careers rather than just preparing them for their first employment.