AI leading to instigate hybrid labor

The ideas to make automation in business through AI are flourishing as the result of the Pandemic that struck humanity back in 2019.

Companies investing a massive amount to create a hybrid workforce. Such ideas and investments have deteriorated numerous job roles while producing multiple newer job options.

What’s new: 

AI and automation’s augmentation to the business has affected the job styles. Employers now prefer labor that can interact easily with new technologies.

Erik Brynjolfsson(director of the Digital Economy lab at Stanford Institute for Human-Centered AI) said, “We have seen more changes in how we work over the past 20 weeks than we have over the past 20 years”.

What happened: 

The starting weeks of the Pandemic (During the lockdown) caused a rush for companies to implement automation and AI to their businesses to replace a huge number of workforce to overcome the loss and ensure social distancing. 

Brynjolfsson and his colleague Matt Beane in a report for MIT Sloan Management Review found that firms/companies invest a heavy amount for automation and robotics. Still, it would take more time for the employers to understand technology use.

According to Brynjolfsson, initial dips are more likely to happen as companies spend time and money figuring out different ways to interact with new technology and its tools. 

What’s ahead: 

Brynjolfsson says that he is not foreseeing any horde of unemployment due to the augmentation of technology (AI and automation) into firms/offices. Adding to this statement, he further stated that “currently we are far from developing general intelligence that’s why we can’t be fully dependent on technology”.

Point of concerns:

Current scenarios show an increased possibility of job roles being depleted by AI. 10% of jobs can be diminished, and AI could also automate ⅓ tasks out of the 60% of the jobs.Manyika claims that more jobs will be altered, with a humongous polarization and work getting delicate.

World economic forum report forecasted that by 2025, humans and machines will spend equal time on the same task. However, 43% of the surveys show the businesses plan to reduce their workforce by integrating technology.

Assumption:   

A harrowing fact about AI and Robots is that they are improving persistently, lack of new skills will devastate workers’ acquiring jobs.

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