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Is AI Really Going to Cost Millions of Jobs?

Unless you’ve been living under a rock you’ll know that artificial intelligence (AI) is all the rage. The tech has recently become a major buzzword, infiltrating virtually every part of every industry. From movies to image generation and everything in between, it seems like there is no limit to what the mythical AI is capable of.

But doesn’t this mean that most of us are soon going to become redundant? After all, why would companies bother hiring humans when AI can apparently do all the work? Are we about to see a wave of job losses across multiple industries? The short answer is; no, probably not. Although AI can perform some tasks well, the reality is that most of AI’s touted abilities are dramatically overblown. There are, however, still some industries that are likely to see some job losses.

How Does AI Actually Work?

AI isn’t mystical, magical, or particularly new. It’s been around for far longer than most assume, though has recently seen advancements. At its core, an AI system performs a task based on pre-programmed rules. Though, importantly, AI can also self-adjust depending on parameters. Tweaks can automatically be made, or certain paths automatically chosen, assuming that the input received triggers set rules.

To be clear; AI does not make decisions. Instead, specific paths can automatically shift based on programming and set parameters. AI isn’t smart. It isn’t anything at all, except a set of rules that play out in accordance with programming. Plus, depending on the type of AI we’re talking about, the systems are also extremely fallible. Of course they’re fallible, they were written by a human.

AI Isn’t Perfect at All

ChatGPT is making headline news around the world. Most are in awe of how the software can apparently deliver information almost instantly, including answers to deep questions, paragraphs written in the style of specific authors, and even computer code written for a specific purpose.

Yes, it’s all very impressive. But where is Chat GPT getting all this information from? The answer is, it’s getting from the internet. The internet is a virtually infinite source of written information, including hundreds of millions of books, articles, and forums. When ChatGPT needs to produce output it draws on this pool of information, copying the written work of humans directly. If you didn’t already know, ChatGPT won’t pass a plagiarism test by any stretch of the imagination.

The kicker is that ChatGPT also copies over errors, mistakes, and misinformation. The software is also known to make basic mistakes in maths and to have a strong bias on specific predetermined topics. In other words, Chat GPT is not a perfect solution.

Is AI Going to Cost Jobs?

AI is extremely useful in certain circumstances, though not as much as is often assumed. As a customer support assistant, for example, AI is excellent at handling simple queries. A site like Black Lotus online casino handles numerous queries on a daily basis, though most are simple questions that can be answered instantly. An AI programmed to recognise and handle simple questions is, therefore, invaluable. However, if a customer support situation is more complicated than a simple question, a human will have to take over the conversation.

Other industries that can benefit from AI assistance include software engineering, media and advertising, as well as the legal industry. But, in all of these cases, the degree to which AI can e helpful is severely limited. AI can do basic coding, but in the majority of cases needs to be corrected or tweaked. AI can write media content, but in all cases relies heavily on plagiarism. AI can make legal language more digestible, but lacks a specific understanding of what human clients actually want.

So, as it stands, in almost all cases AI is most likely to help boost human productivity rather than steal jobs outright. At least for the most part.

Jobs are Going to Be Lost

With all of this being said, it is likely that there are going to be some job losses due to AI automation. According to experts, the biggest losses are likely to be in the already mentioned customer support sector, as well as the financial sector and graphic design sector.

As far as finances are concerned, there are a number of jobs that boil down to data analysis, number crunching, and recognising market trends. As it turns out, automated software is capable of doing these jobs particularly well. Although it’s unlikely that there will be a sweeping loss of jobs, it is likely that certain jobs will become redundant.

Graphic designers are, sadly, already feeling the impact of AI. AI image generation saw almost instant popularity, with numerous programmes already available that produce high-quality graphics. Although AI image generation doesn’t compete with the work of humans, many businesses are willing to accept the compromise.

How is it All Going to Play Out?

As it stands, AI is still a major buzzword that draws public attention. Industries around the world are leaning into the hype, eager to draw as much attention for themselves as possible. This is to be expected, and it isn’t surprising that the phrase is on everyone’s lips. But, as with all hype trains, the chances are it’s all going to fade away. Or at least fall out of the spotlight to some degree.

Yes, there are going to be disruptions in certain industries, but the impact won’t be as big as everyone is assuming. In fact, all signs point to AI assistance only increasing productivity across the board. Again; there are almost certainly going to be some job losses, though how many remains to be seen.

As far as AI itself is concerned, it’s going to be fascinating watching the tech evolve, and see how far the industry can be pushed.  But, if the missteps of Tesla are anything to go by, it’ll likely be a very long time before truly ground-breaking AI is developed. If it’s ever developed at all. In case you didn’t know, it’s 2023 and Tesla cars still aren’t fully self-driving.