Dissecting the Paradox of Progress: The Socioeconomic Implications of Artificial Intelligence (original) (raw)

Future of Jobs and the Challenge of Artificial Intelligence

Global Strategic & Securities Studies Review, 2020

This paper then looks at some important questions. First, does the age of automation and technological transformation often referred to as the fourth industrial revolution pose any threat to human employability? Second, what is the scope of the challenge and how soon should we expect it? Third, what might be the socio-political impact of such displacement around the world?. Fourth, whether there is enough preparedness or at least awareness of the threat posed? Finally, what has been done and can be done to thwart an unemployment apocalypse. The theoretical framework adopted is plain old zero-sum game from game theory. And the entire scope of the study required simple deductive reasoning. An important caveat worth spelling out at the outset is that this piece focuses on the very latest and mostly current developments, therefore in the absence of widely accessible material internet resources have been used for sourcing

Artificial Intelligence: The Future of Labour and Employment

2020

There are two principal currents of opinion about the future of labour: those who think the advance of Artificial Intelligence (AI) will destroy professions, provoking mass technological unemployment, and those who think that, as has happened before in the history of labour, new technologies like AI will create new jobs. The fact is that AI will have a profound impact in the world of labour. The article is organized in three parts: first describing AI in the context of the Fourth Industrial Revolution; then exploring AI’s potential threats and opportunities in the world of labour. The text is concluded with an ethical question: Does AI offer the possibility of thinking about a new paradigm of labour and of civilization? The Fourth Industrial Revolution must be put at the service of humanity and not of the market. The choices of the present will dictate the directions of the future of labour.

Impact of Artificial Intelligence on the Future of Work and the Labor Market

ICPA Journal of Business Administration and Economics, 2023

Artificial intelligence (AI) is rapidly transforming the way we live and work, affecting a wide range of industries and job markets. In this research paper, the focus will be on exploring the potential impact of AI on the future of work and the labor market. This study will examine the current state of AI adoption in various industries, the expected growth of AI usage, and the potential consequences of this growth for the job market, including the displacement of certain jobs, the creation of new jobs, and changes in the skill requirements for workers. Additionally, the paper will examine the ethical considerations surrounding AI and its impact on the workforce, including issues such as job loss, income inequality, and the responsibilities of businesses and governments in managing the transition to an AI-powered workforce. The study aims to provide insights into the future of work in the AI era and to inform policy decisions that can ensure a fair and equitable transition for workers and businesses.

Economics of Artificial Intelligence: Implications for the Future of Work

IZA Journal of Labor Policy

The current wave of technological change based on advancements in artificial intelligence (AI) has created widespread fear of job loss and further rises in inequality. This paper discusses the rationale for these fears, highlighting the specific nature of AI and comparing previous waves of automation and robotization with the current advancements made possible by a widespread adoption of AI. It argues that large opportunities in terms of increases in productivity can ensue, including for developing countries, given the vastly reduced costs of capital that some applications have demonstrated and the potential for productivity increases, especially among the low skilled. At the same time, risks in the form of further increases in inequality need to be addressed if the benefits from AI-based technological progress are to be broadly shared. For this, skills policies are necessary but not sufficient. In addition, new forms of regulating the digital economy are called for that prevent fur...

Review of Artificial Intelligence: A Driver of Unemployment or Navigation towards a Prospective Future?

International Journal of Current Science Research and Review, 2022

Artificial intelligence has swiftly penetrated our lives that eased our way of life. With its massive utility in healthcare, education and other commercial sectors, AI has evolved as a boon to the world. Nevertheless, atomisation has resulted in large-scale job loss, retrenchment and unemployment, substituting human labour, resulting in controversies about the significance of advanced technological progressions. This study argues about the extent to which AI has led to unemployment changing the macroeconomics versus the new job opportunities opened by AI and other technological developments, augmenting productivity level and improving quality of service delivered.

The Socioeconomic Impact of Artificial Intelligence on Employment and Workforce Dynamics

ResearchGate, 2023

This research paper delves into the socioeconomic impact of artificial intelligence (AI) on employment and workforce dynamics. As AI continues to advance and permeate various industries, concerns about job displacement and shifts in the labor market have become increasingly prevalent. This study presents a comprehensive analysis of the potential effects of AI on traditional jobs, the emergence of new employment opportunities, and the overall dynamics of the workforce. By reviewing existing literature, conducting case studies, and gathering empirical data, the paper examines how AI disrupts conventional job roles while simultaneously creating novel avenues for economic participation. It also explores the implications of AI integration in the workplace, including changes in organizational structures and management practices. Ethical considerations and policy recommendations are discussed, addressing the need for proactive measures to harness the transformative potential of AI while mitigating its negative socioeconomic consequences.

AI And The Economy - How Technology Is Redefining Employment And Income Distribution

There's a profound transformation occurring in employment and income distribution, primarily driven by the rise of artificial intelligence. In recent years, automation and machine learning technologies have begun to reshape industries, challenging our long-held perceptions of work and economic structures. As AI systems become increasingly sophisticated, they not only enhance productivity but also raise pivotal questions about job displacement and wealth inequality. This blog post examines into the intricate relationship between AI and the economy, exploring the implications for the workforce and our society at large.

Sociology of Artificial Intelligence: How AI Will Transform Work, Unemployment and Our Future

Current Approaches in Social Sciences, 2023

Artificial intelligence is one of the hot themes of the current public discussion with accounts associating it with transformations in especially manufacturing sectors which is usually expected to lead to massive unemployment. The public is keen on speculating about which jobs will be made redundant by the rise of AI and ultimately disappear. In addition to factories, the health sector is one of the sites of contestations as many medical tasks are getting automated. Some other scholars do not agree with this panic atmosphere. They claim that like any other industrial transformation, the rise of AI will also create new jobs. Although social implications of the rise of AI are under the spot, it is hard to come up with a single view among various views shared by scholars of various disciplines and strands of research. This article summarizes and elaborates on various positions on the topic, with a sociologically critical perspective, keeping an eye on AI's highly likely role in exacerbating the already biting social inequalities and injustice. The sociology of artificial intelligence is delineated along with the ethical issues raised by the expansion of artificial intelligence in our daily lives, keeping the possibility of a humane artificial intelligence in mind.

The Future of Work in the Age of AI

The Oxford Handbook of Ethics of AI, 2020

This chapter examines the effects of artificial intelligence (AI) on work and workers. As AI-driven technologies are increasingly integrated into workplaces and labor processes, many have expressed worry about the widespread displacement of human workers. The chapter presents a more nuanced view of the common rhetoric that robots will take over people’s jobs. We contend that economic forecasts of massive AI-induced job loss are of limited practical utility, as they tend to focus solely on technical aspects of task execution, while neglecting broader contextual inquiry about the social components of work, organizational structures, and cross-industry effects. The chapter then considers how AI might impact workers through modes other than displacement. We highlight four mechanisms through which firms are beginning to use AI-driven tools to reallocate risks from themselves to workers: algorithmic scheduling, task redefinition, loss and fraud prediction, and incentivization of productiv...

Artificial Intelligence, Jobs and the Future of Work: Racing with the Machines

Basic Income Studies, 2018

Artificial intelligence is rapidly entering our daily lives in the form of driverless cars, automated online assistants and virtual reality experiences. In so doing, AI has already substituted human employment in areas that were previously thought to be uncomputerizable. Based on current trends, the technological displacement of labor is predicted to be significant in the future – if left unchecked this will lead to catastrophic societal unemployment levels. This paper presents a means to mitigate future technological unemployment through the introduction of a Basic Income scheme, accompanied by reforms in school curricula and retraining programs. Our proposal argues that such a scheme can be funded by a special tax on those industries that make use of robotic labour; it includes a practical roadmap that would see a government take this proposal from the conceptual phase and implement it nationwide in the span of one decade.