How will AI and Automation affect the job market and economy? by Ashish Mehta

Keywords

am3580_ — 2023-11-13 21:13:20 UTC

Artificial Intelligence/AI - the theory and development of computer systems able to perform tasks that normally require human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages

My topic is how AI will affect the job market and economy so AI will appear frequently

Automation: the use of largely automatic equipment in a

system of manufacturing or other production process.

Automation is a process from AI that minimizes human interaction and completes functions on its own. Therefore, it plays a big role in jobs that are bringing AI for automation

Innovation: the process of creating

AI and automation will both bring innovation to future designs

Economy: the wealth and resources of a country or region, especially in terms of the production and consumption of goods and service

My topic will emphasize the effect of AI and Automation on the economy, the economy will be stated and described in many ways

Future: the time or a period following the moment of speaking or writing; time regarded as still to come.

The topic will involve more of what AI and Automation will hold for the future in terms of job market and economy

What will AI bring to the economy and the job market? AI will bring positive outcomes

am3580_ — 2023-11-15 21:05:37 UTC

The article above goes in-depth into which aspects of the job market AI and Automation will impact the most and the overall change in the economy. Which is the main topic of my essay.

There are many benefits that come with automation and AI especially when discussing the effects on the job market and economy. AI and automation will bring an increase in productivity, efficiency, and innovation. As a result of AI:

Jobs that require routine, repatriation of tasks, data entry, and customer service
Jobs that require skills such as programming and data analysis will rise for the production of AIs
The workforce will require skills to stay competitive
Governments, educational institutions, and companies will collab to provide training and educational programs to teach skills needed for automation and AI
Industries of transportation, manufacturing, retail, and agriculture have changes in work by humans and incorporate automation and AI
AI and Automation will complete jobs and work done by humans and free up time for new innovations
In situations in which the power of those who control AIs and automation will be questioned, leaders must make sure that they benefit everyone
Economic growth and boost in productivity
Plans will need to be made to manage automation which will be vital towards the economy

am3580_ — 2023-11-15 21:10:19 UTC

The rise of AI and Automation

am3580_ — 2023-11-18 23:50:35 UTC

Nowadays everywhere we see AI. Tools such as chatgpt, stable diffusion, DALL-E, robots made from production, self-driving cars, and as time goes on more innovations of AI will emerge. The source above is vital because it showcases the rise of AI and automation and what makes it popular in the world we know today

Will it allow civilization to advance or lead to an empire led by AIs? AI is vital for advancement

am3580_ — 2023-11-19 00:12:51 UTC

The video above goes in-depth on how AI tools such as chatgpt are taking over the globe in education with students using the tool for assignments, people using it to generate code, and how it is able to solve many problems. They give examples of AI being used in the workforce as Buzzfeed, an entertainment company, laying off some workers and using AI instead, and also an AI-created animation. Now as people are really worried about AI taking over every aspect and controlling how we live, we also must keep in mind that AI are human creation and we should worry more about how we can use it to our advantage. We already have companies such as Tesla creating self-automated cars and many other car companies also following the concept. If humans are able to keep the innovation of AI at a steady rate, then AI will allow our civilization to advance much further than ever.

GDP growth from AI

am3580_ — 2023-11-19 00:22:34 UTC

A study by Accenture found that AI will almost double the global GDP. The graph above demonstrates the study by comparing the baseline and AI steady-state for the GDP of some of the top countries.

What can humans do that AI cannot?

am3580_ — 2023-11-19 22:40:03 UTC

The article above gives information on what AI can do better than humans, and what humans can do better than AI. I would focus on the side of what humans can do better than AI because even though AI is made to perform certain functions faster, smarter, and more efficiently than humans, we must look at what it cannot do and why humans still play a vital role.

AI does not have the same abilities as humans

am3580_ — 2023-11-19 22:41:13 UTC

One major topic the article covered was the ability to make decisions, having context and emotions. AI does not have these abilities because they are only programmed to make decisions based on calculations and odds, not trying for something based on willpower and faith as humans. This reminds me of the movie I, Robot which is set in a world in which AI controls every aspect of human life and robots are completing human functions, the movie demonstrates how AI's calculated decisions are not as understanding as human decisions in one scene in which a car crash occurred leaving both cars submerged underwater. The main character and the passenger of the other car, who was a young girl, were both stuck underwater in different cars. A robot comes to save them, but instead of saving the young girl, it saves the main character only because its decision was made by calculations of probabilities. Furthermore, AI is limited in what they are programmed to do and even when it develops to learn more information, it still won't have the ability of context. This ability can be important in anything even when it comes to jobs and the economy, so having humans that control and supervise the automation and AI that perform certain functions is crucial to prevent any future catastrophes.

AI and Automation

am3580_ — 2023-11-19 22:49:57 UTC

As we move into a highly digital world, the innovations of AI and Automation continue to increase. This leads to many concerns to growth but also sheds light on new ideas and how we can maximize the benefits that AI and Automation bring. I will be focusing more on the effect AI and Automation have on the economy and job market

Many car companies such as Tesla, Ford, Audi, Nissan, and many more are generating vehicles and plans with automated driving
Generative AI is being used to design projects, sources of entertainment, and help people perform tasks. One major generative AI that grew in popularity in recent years, chatgpt
Big companies such as Google, Amazon, Facebook, Microsoft, and Boeing are implementing AI in their structures and some are laying off workers and replacing them with AI