The Future of Artificial Intelligence: Are Robots Really Taking Our Jobs?

The emergence of Artificial Intelligence has received criticism from people who believe that advancements in technology will take jobs away from everyday citizens. For example, there is concern that autonomous cars will replace taxi drivers and that automatic checkout machines have already replaced cashiers. While it is true that intelligent machines replace jobs, the aggregate unemployment rate is not negatively affected. In fact, the integration of new technology promotes job growth and leads to economic prosperity.While Artificial Intelligence is criticized for destroying jobs, AI promotes job growth and knowledge-intensive specialization. By fulfilling the labor demand for repetitious and labor-intensive jobs, laborers are free to specialize in knowledge-intensive industries such as programming, engineering, medicine, etc. As a result, the aggregate economy is more productive and further technological innovation can occur. Humans can use exercise intelligent ideas as opposed to doing one mundane task day after day. Not to mention, humans can avoid potentially hazardous workplace environments. Using 150 years of data, a research study by economists at Deloitte confirms that technological advancements promote job growth in knowledge-intensive industries. The study reviewed employment data from industries affected by technological automation such as agriculture. After comparing this data to the labor change in knowledge-intensive sectors, the research found that there is an inverse relationship: as technology replaces jobs in labor-intensive sectors, the employment rate in knowledge-intensive sectors increases.In addition to economic advantages, AI is able to perform tasks that humans are simply not capable of doing. For example, can quickly process large amounts of data and detect fraudulent transactions by monitoring banking activity all around the globe. AI can take in account the weather, traffic, and road closures to accurately predict the arrival of inventory. Additionally, robots can perform tasks that are too dangerous or perhaps not currently impossible for humans.While we may not know what the future will hold, the past has shown us that robots will not be the cause of unemployment. Rather, they will empower the human race to achieve a new level of innovation.

NeuroChain, let’s build a better world!

Photo credits:Freepik, PexelsFollow us on Telegram, Facebook, Twitter and YouTube. If you have any questions, feel free to get in touch with NeuroChain Team, and we will answer you as soon as possible!