AI technologies are developing at a quick rate, instilling fears of industry-wide takeovers. While AI could replace a quarter of work tasks, it may also mean new jobs and a boom in productivity. It's imperative to note that AI could help create as many new job opportunities as it takes away due to its fast-developing capabilities, especially in creative arenas.
The rise of AI has sparked fears of job losses across various industries. However, recent reports suggest that AI could actually end up creating more jobs than it replaces. In fact, according to investment bank Goldman Sachs, AI could replace a quarter of work tasks in the US and Europe, but this could also mean new jobs and a boom in productivity. The total annual value of goods and services globally could go up by 7%. While the impact of AI will be felt unequally across industries, with 46% of tasks in administration and 44% in legal professions becoming automated, only 6% of jobs will be eliminated in construction and 4% in maintenance. It's also worth noting that AI could help create as many new job opportunities as it takes away due to its fast-developing capabilities, especially in creative arenas. A different report by World Economic Forum (WEF) from 2020 titled 'The Future of Jobs Report 2020' stated that artificial intelligence could replace 85 million jobs worldwide by 2025, but it also mentioned that 97 million new jobs would be created in the same timeframe. While the idea of AI takeover may sound apocalyptic, it's important to remember that AI tools aren't perfect and would need the assistance of a human editor to truly get the right message across. In fact, AI tools like ChatGPT can be used to stop doing mundane tasks like writing e-mails, curating social media posts, and responding to customer service requests. However, it's worth noting that such AI tools aren't perfect and may need human intervention to ensure the right message is conveyed. In conclusion, while the rise of AI may lead to job losses in some sectors, it could also lead to new job opportunities and a boom in productivity. As a quantum computing evangelist, I believe that AI is the future and that the countries that take the lead in AI technology will have technological and economic advantages over the rest of the world for the next half century. It's important to embrace AI and its capabilities while ensuring that its impact is felt equally across industries.