Artificial Intelligence and Jobs - Dangers of Rapid Change
This video delves into the potential dangers and challenges that rapid advancements in artificial intelligence pose to the job market.
We explore how AI is changing the way we work, the potential for mass job displacement and the real-world implications of these technological shifts.
If you would prefer to read about it, there is a transcript below the video.
Artificial Intelligence and Jobs - Dangers of Rapid Change - video transcript
This is a video in the series The World in 2035.
It is about artificial intelligence and jobs and the dangers of a rapid change to artificial intelligence.
Artificial intelligence is based on the digitization of society that has been going on since the 1950’s. Over the past decades significant digital infrastructure has been built up that will facilitate the expansion of the use of AI on a large scale. Still AI systems will have to be implemented by companies and public organizations and individuals to provide access to AI functionality for a wide range of purposes.
Many IT professionals will have to be trained in AI related technologies to be able to fully implement AI in all places where it can be used.
People at present do not understand the effects on AI on the job market and economic activity at large, and government do not seem to recognize the risks that AI will bring.
Many misunderstandings prevail about productivity improvements. Many seem to think that ordinary people will become rich through the implementation of AI, but it is more likely that a lot of people will lose their jobs and that entire companies will go out of business and that the profits of AI will end up with the shareholders of the companies that provide the systems and solutions.
There are mainly three ways for people to earn money:
either by working
by investing and making profits from this
or by being unemployed and getting unemployment benefits from the government or from unemployment funds.
The reduction of workforces that is likely to result from the large scale implementation of AI will reduce tax income and reduce the opportunities for governments to invest and finance many areas, and it will also reduce the opportunity to pay money to the unemployed.
There are large differences in different applications for artificial intelligence in terms of time to large scale implementation. Some applications are already in widespread use only a few years after they were launched, like Chat GPT, translation services, and other services that can improve the efficiency of individuals and entire companies.
Some applications can be implemented by companies at short notice and be used on a large scale without many people noticing it, like banks using AI applications to detect fraudulent credit card transactions. And some applications will require large breakthroughs in IT and communication technology, such as the large scale implementation of autonomous vehicles that will generate very large amounts of data and need for the large scale implementation, new generations of processes and communication solutions with capacity far beyond what is available at present.
I wrote about this in my previous book, “How Building the Future Really Works”, that was published in 2023.
The big question is when will the big changes from artificial intelligence be felt by the public? At present most people may see artificial intelligence as an improvement in their work. We can do research using Chat GPT, and translate texts using deepl.com much better and quicker than what was ever possible before.
We embrace artificial intelligence in the way we have embraced previous generations of digital technologies.
Up until now, digitization has created more jobs than it has taken away. But we are almost certain to experience a time in the near future when AI will reduce the number of jobs in companies on a grand scale without creating as many new jobs in exchange.
When is this likely to happen, and how can governments, individuals cope with it?
Most of us are not likely to get rich through the AI revolution, but how will people be able to make a living when the development speeds up and it will be difficult to stop?
Read my recent book, “The Severe Economic and Social Consequences of the Rapid Change to Electric Vehicles”, to learn more about one of the aspects of this video series. Available on Amazon: https://amzn.to/3UQCf0t
I'm in the process of writing my next book, “The World in 2035”, which will describe the complex challenges facing humanity over the coming decade as the present generations tackle the complex issues of implementing a number of new technologies.
If you're intrigued by the technology changes of the coming decade and you want to know more about the change to electrification, to artificial intelligence, and the change to sustainable society, subscribe to my YouTube channel or join my mailing list below.