Artificial intelligence may change labor market but doesn't need to cause long-term harm
Artificial intelligence holds the potential for significant benefits
How worried are Americans about artificial intelligence taking their jobs?
People in Texas sounded off on AI job displacement, with half of people who spoke to Fox News convinced that the tech will rob them of work.
Artificial Intelligence (AI) contributed 4.9% of layoffs in May, as noted in a recent job report analysis. This is particularly notable, as the report hasn’t previously discussed AI as a reason for job cuts. Companies, like IBM, are adapting to this trend, halting hiring for positions they foresee being automated.
Although the growth of AI might appear unsettling, considering that many rely on their jobs for economic stability, it does not necessarily spell disaster for the workforce. In fact, it holds the potential for significant benefits.
Despite many recent concerns, AI – and technology in general – are positive transformative forces. Over time, technology has dramatically increased humans’ standard of living. It has taken us to the moon and the depths of the oceans. It has found ways to detect and cure diseases, significantly increasing humans’ lifespan.
AI, similarly, has driven the discovery of drugs for treating otherwise lethal ailments, can create individualized learning plans for students, and even plan humanity’s future journeys into outer space.
AI technologies can improve humans’ lives by performing repetitive tasks like routine customer service, data entry, and manufacturing. The future promise of AI systems – like ChatGPT – enables organizations to automate their day-to-day operations, allowing people to focus on tasks that require or benefit from creativity and human ingenuity.
This isn’t to say that AI technologies won’t cause short-term disruption to labor markets. Individuals currently working in jobs that can be readily replaced by lower-cost AI technologies may need to retrain and pursue work in other areas. This isn’t at all unusual during times of technological advancement.
Unemployment triggered by job loss could temporarily decrease individuals’ spending, increase social services costs and possibly even cause protests. Furthermore, income inequality can worsen, particularly for lower-income households unable to bounce back financially and individuals with less adaptable skills. Displaced workers who have limited education and financial resources to draw upon may struggle to adapt to advanced technologies.
ARTIFICIAL INTELLIGENCE COULD REPLACE UP TO 80% OF HUMAN JOBS, EXPERT SAYS
Given this, both private and public sector response is necessary. Companies benefit from investing in retraining their workers for positions in other areas, thereby retaining loyal employees and corporate knowledge and enhancing morale.
Government programs can aid those who need to transition between employers or industries. Educational offerings can help workers learn to use AI tools effectively and allow them to – in some cases – even become the drivers of this change.
Incentives like tax breaks and subsidized tuition also help incentivize companies to invest in their workers, while grants, loans and other financial assistance can help those without the means to retrain. Additionally, expanding or introducing job-guarantee programs can ensure that those displaced by automation don't bear the brunt of the transition alone.
Used effectively, AI can help push the boundaries of human capability and help construct a world in which human creativity and ingenuity synergize with AI systems’ technical capabilities. Public acceptance of AI is key to achieving these benefits. Fearmongering – over job loss and other concerns – and reactive overregulation risk stifling these benefits.
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Education prepares the public to use and benefit from the technology and reduces both legitimate employment and theoretical concerns. AI technology developers and government agencies alike are well advised to devote resources to public AI education, which is poised to provide significant returns to both.
By investing in people and by taking steps to transition responsibly, governments can ensure that AI-driven automation leads to a better future for everyone – not just a few. With the proper policies in place, technology will drive progress and create new opportunities for all.
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Jeremy Straub is an associate professor in the North Dakota State University Computer Science Department, a Challey Institute faculty fellow, and the director of the NDSU Institute for Cyber Security Education and Research. The authors’ opinions are their own.
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