A few years ago, many of us did not imagine having a self-driving car in the nearest future. Thanks to artificial intelligence (AI), which made it possible. Not only this, from our Netflix’s recommendation to intelligent personal assistants like Alexa and Siri, AI surrounds us all. It has managed to become an integral part of life.
According to Gartner, the usage of AI in various corporate areas has increased by 270% in the previous four years. Some people are apprehensive of AI as they fear it will make human beings obsolete in the workforce one day. And when it comes to freshers seeking jobs, they are more curious to know the impact of AI and ML tools on entry-level jobs in the market.
Before we jump on to discussing the impact of AI and ML tools, we need to know what they are.
What are AI and ML tools?
Artificial intelligence (AI) is a broad field of computer science that focuses on creating intelligent computers that can do activities that would generally need human intelligence. Customized Google news feeds, retargeted Instagram ads, conversational bots, email spam filters, Facebook’s sponsored content, and many such things are examples of AI.
Whereas machine learning (ML) is an AI branch in which computers may “learn” from data, statistics, and trial and error to improve procedures and innovate more quickly. Machine learning allows computers to gain human-like learning skills, allowing them to address some of the world’s most challenging issues, such as cancer research and climate change. Industries such as financial services, healthcare, social media retail, and e-commerce use ML tools to find customer problems, solutions, trends, and other patterns.
Impact of AI and ML tools
To begin with, the question of the human becoming obsolete workforce is probably not an easy answer to provide. Still, the concern is far from being baseless. There are some concerns about the job market. To put it plainly, AI will eventually replace jobs. Workers in a variety of industries, from healthcare to agriculture and manufacturing, may expect to experience employment disruptions as a result of AI.
Many experts agree that in the next five to ten years, a lot of occupations will be completely automated. Even if the shift isn’t immediate, industry analysts such as Fortune have predicted that “robots would displace 40% of occupations in the next 15 years.”
AI and ML tools are expected to make processes smarter and robots more humanized in the long run. However, there is a risk that it will result in the loss of a few employment. Jobs that people have historically learned their trade at the start of their careers will be obsolete thanks to AI and ML tools.
There are few jobs of the following nature that AI and ML tools will replace in the future.
- Customer service executives
- Bookkeeping and data entry
- Manufacturing and pharmaceutical work
- Retail services
- Courier services
- Market research analysts
However, there are some jobs that AI and ML tools cannot replace. Gladly, only humans possess traits like leadership, dispute resolution and negotiation, emotional intelligence, and empathy. So jobs which demand such uniquely human qualities cannot be replaced by AI. The following is a list of jobs that cannot be replaced by AI and ML tools:
- Human resource managers
- Chief executives
- Event planners
- Graphic designers
- Public relations managers
- Software developers
- Project managers
Since AI and ML tools are on the way to obliterate the entry-level jobs, there is the emergence of the ‘Gig Economy.’ In this, individuals are hired by companies to execute minor employment on demand. This form of work varies from a full-time job. Long-term relationships between the employer and employee are not guaranteed, and both parties have fewer duties. And companies are increasingly decreasing full-time staff and relying on digital platforms to acquire required talents on a contract basis.
It’s not all doom and gloom. AI is projected to increase the need for labour, particularly in robotics and software engineering. AI is predicted to replace 85 million jobs globally by 2025, according to the World Economic Forum’s “The Future of Jobs Report 2020.” Though this seems alarming, the study states that in the same span, 97 million additional employment would be created.
The MIT Task Force on the Future of Work recently issued a report titled “Artificial Intelligence And The Future of Work,” which examined AI advancements and their impact on the workplace. The publication portrays a more positive image.
“In this report, we conclude that recent fears about AI leading to mass unemployment are unlikely to be realized. Instead, we believe that—like all previous labour-saving technologies—AI will enable new industries to emerge, creating more new jobs than are lost to the technology. But we see a significant need for governments and other parts of society to help smooth this transition, especially for the individuals whose old jobs are disrupted and who cannot easily find new ones.
In addition, even though AI is advancing rapidly, we believe that we are at least many decades away from the day when computers have complete, human-level artificial intelligence. For the foreseeable future, therefore, the most promising uses of AI will not involve computers replacing people, but rather, people and computers working together—as “superminds”—to do both cognitive and physical tasks that could not be done before.”
The above optimistic scenario necessitates a shared knowledge of the technology, its benefits, and its drawbacks. Societies must adapt to the changing technological world, become more adaptable, and adopt a lifelong learning, cooperation, innovation, and entrepreneurial mindset.
States require a new education-focused approach and a rethinking of how markets, firms, and employment agreements should operate in the new era of intelligent automation and a redesign of social processes to accommodate a variety of new scenarios and situations.