GenerativeAI
AI in the World
Jobs
Many are worried that GenAI will take jobs. It probably will.
The original Luddites smashed looms during the early days of the Industrial Revolution because they believed the machines threatened their livelihoods. The Luddite’s thesis was borne out. Industrialization did negatively impact their livelihoods. But the automation paradox held—the technology created more new roles than it destroyed.* The net effect was more jobs for more people.
This net increase in jobs occurs at the societal level. It offers little comfort to the displaced who struggle to find a place for themselves while the rich only get richer off the disruption.
So far, the impact of GenAI on jobs is not even a rounding error. But we are early days.
International Business Machines Corp. Chief Executive Officer Arvind Krishna said the company expects to pause hiring for roles it thinks could be replaced with artificial intelligence in the coming years.
Predictions of AI replacing legal jobs resurface with new ChatGPT-style software. While past fears didn’t fully materialize, the latest AI's language proficiency poses a threat by automating word-based tasks. Its impact, likely gradual, could reshape legal work, demanding skill enhancement and shifting traditional billing models. Uncertainty persists amidst promises of increased productivity and new roles
ChatGPT and generative AI will change how we work, but how different is this to all the other waves of automation of the last 200 years? What does it mean for employment? Disruption? Coal consumption?
Investor Vinod Khosla predicts that AI will lead to free doctors, tutors, and lawyers within 10 years. He also believes that there will be a billion bipedal robots in 25 years. Khosla emphasizes the positive impact of AI and encourages focusing on its benefits rather than dystopian scenarios. He sees AI as a way to reinvent societal infrastructure and provide resources to all. Khosla has been vocal about the potential of AI for years and has invested in AI startups.
Which tasks are on AI’s chopping block?
Employers are increasingly seeking staff with AI skills, particularly in HR teams. The use of AI tools, such as ChatGPT, is expanding in both technical and non-technical roles. However, there is a need for human input to ensure personalized responses and avoid potential risks. AI training and guidelines are not yet widely provided by employers, but professionals are encouraged to become AI-literate to enhance their job performance.
53% of companies currently use AI, and 24% plan to start in 2024. 37% of companies using AI say the technology replaced workers this year. 44% of companies surveyed say AI will lead to layoffs in 2024. 96% of companies hiring in 2024 say candidates will benefit from having AI skills. 83% say AI skills will help current employees retain their jobs.
A survey conducted by Salesforce reveals that over half of generative AI users in the workplace are using unapproved tools without training or guidance from their employers. The lack of clearly defined policies around generative AI use puts businesses at risk. Additionally, many workers engage in ethically questionable activities, such as passing off AI work as their own. The survey also highlights the absence of clear generative AI policies in many companies, particularly in the healthcare industry. To fully benefit from generative AI, businesses need to provide clear guidelines and training to ensure responsible use and maximize the technology's potential.
International Business Machines Corp. Chief Executive Officer Arvind Krishna said the company expects to pause hiring for roles it thinks could be replaced with artificial intelligence in the coming years.
International Business Machines Corp. Chief Executive Officer Arvind Krishna said the company expects to pause hiring for roles it thinks could be replaced with artificial intelligence in the coming years.
A lot of the companies tossing around the phrase AI are just taking advantage of the hype.