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AI will not wipe out half of jobs after all, say academics who predicted this

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Summary

This article discusses research conducted by two Oxford University artificial intelligence and automation experts that revises predictions they made in 2013 that AI would displace jobs in a widespread manner. The researchers now suggest that the upper limits of popular AI technology's abilities have been almost reached, and AI will mostly be limited to lower-stakes activities like customer service or warehouse automation. AI has helped to boost productivity in roles such as copy editing and software development, but it has also lowered the barrier to entry to some content creation professions, which could depress wages. As such, businesses should be aware of how AI impacts humans, where it fits into work, and how to implement it ethically.

Q&As

What did Oxford researchers suggest about the future of work in a 2013 paper?
Oxford researchers suggested that almost half of all jobs were at risk of automation in a 2013 paper.

What limits of AI technology are preventing widespread job displacement?
The limits of AI technology preventing widespread job displacement include issues with perception, creativity, the novelty of output, social ability, and hallucinations.

How has AI helped productivity and lowered barriers to entry in certain professions?
AI has helped productivity and lowered barriers to entry in certain professions by dispensing with routine and repetition tasks.

What has been the reaction to AI in certain sectors?
The reaction to AI in certain sectors has been strikes.

What advice does the Institute of Analytics offer to businesses implementing AI?
The Institute of Analytics advises businesses implementing AI to be aware of how AI impacts humans, where it fits into work, and how to implement it ethically, and to ensure that the success criteria for businesses are aligned to a fast and easy turnaround.

AI Comments

👍 This article provides a great insight into the implications of AI on the future of work, and how businesses should be aware of how AI impacts humans and how to use it ethically.

👎 This article fails to address the long-term consequences of AI on job displacement and wage depression.

AI Discussion

Me: It's about AI and its impact on jobs. It looks at the predictions from two Oxford University professors who wrote a paper in 2013, which suggested that almost half of all jobs were at risk of automation. The new research suggests that the limits of AI mean that it won't be displacing jobs in a widespread way, but it will create wage depression, strike action, and productivity issues.

Friend: That's interesting. So what are the implications of this?

Me: Well, the implications are that businesses need to be aware of how AI impacts humans, and they should be implementing it ethically. AI can help boost productivity in certain roles, but it also could lead to wage depression, and strikes in industries that rely heavily on AI. Businesses should also consider how they will use AI in a way that doesn't take away decision-making power from humans.

Action items

Research the CIPD's resources on AI at work to understand the ethical implications of using AI in the workplace.
Develop a strategy for implementing AI in the workplace that takes into account the potential impacts on wages, productivity, and strike action.
Educate yourself on the potential benefits of having a diverse workforce and how to create an inclusive environment for employees.

Technical terms

AI (Artificial Intelligence): AI is a type of computer technology that is designed to simulate human intelligence and behavior. It is used to create computer programs that can think and act like humans.
Generative AI: Generative AI is a type of artificial intelligence that is used to generate new data from existing data. It is used to create new images, text, and other types of data from existing data.
Occupational Displacement: Occupational displacement is the process of replacing human workers with machines or technology.
Wage Differentials: Wage differentials are the differences in wages paid to workers in different occupations, industries, or geographic areas.
Productivity: Productivity is a measure of how efficiently resources are used to produce goods and services.
Strike Action: Strike action is a form of protest in which workers refuse to work in order to put pressure on their employers to meet their demands.
Hallucinations: Hallucinations are false perceptions of reality that are experienced as real. They can involve seeing, hearing, feeling, or smelling things that are not actually present.