AI's Impact on the Future of Work


Jun 22, 2023

In the last decade, we have seen exponential growth in the development of technology associated with artificial intelligence. We use human intelligence to solve computing problems and create digital intelligence. That led to a significant shift in how we perceive technology and its social impact.

At first glance, AI seems to be a boon for humanity. It offers many people job opportunities and new ways to profit. However, the scenario is still unclear about how AI will affect the job market.

Some people fear that AI will take over their jobs. Others see it as an opportunity to find work in an unfamiliar field. The effects of AI on the job market have yet to be determined, but these changes will affect us all.

Should we then fear AI in the job market?

AI has the potential to revolutionize several industries in almost every sector of the economy, if not all. From virtual assistants improving the consumer experience in banking and healthcare to biometrics and digital authentication systems and greener and safer electric and autonomous cars, new technologies have the potential to improve our daily lives by adding more efficiency, safety and sustainability.  

Digitalization is the definitive trend in today's job market. The word digitalization often has a negative connotation because it is associated with an expectation of job loss. However, technologies such as Machine Learning, RPA and Data Analytics allow repetitive tasks with low added value to be automated, freeing up skilled professionals to perform more complex tasks with higher business value.  

Thus, we should not be so quick to assume that the introduction of AI will lead to mass layoffs. Instead, AI can help us achieve greater productivity and quality of life.

Like other technological advances, AI does not have a standardized behavioural pattern. Its behaviour, ethical and moral guides will be set by the user, the company, the state or institutions. All these applications suggest we embrace the coming automation rather than fear it.

However, the fear of mass unemployment when AI becomes prevalent is not unfounded. According to a PWC survey, about 30% of the world's jobs will be automated by 2030, in estimation.

This is why it is important to remember that machines do not create new jobs - humans do this through innovation. So we should approach the emergence of artificial intelligence as an opportunity to create more and better work, in a new, more creative and analytical profile.  

This reality will lead to a re-skilling movement, opening new careers, productivity, and pay horizons for professions that have seen their progress stagnate for decades. History proves that remaining open to new ideas and developing the skills necessary to adapt to change leads to progress and greater personal fulfilment in the social context.

We are just beginning to see the effects of artificial intelligence in our world, but its impact on the labour market is evident. Companies improve their efficiency and Customer Journey using AI-based technology solutions; in parallel, schools offer re-skilling programs and incorporate technology education into their core curricula.  

Let's look at the past industrial revolutions and all that brought positive and negative, both in economic, social, human and environmental terms.

Now is the time to observe and enable the next "industrial" revolution, coupled with technological advancement, to become a more responsible, ethical, inclusive, and sustainable movement.

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