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Exploring the Impact of AI on Jobs and the Economy

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Exploring the Impact of AI on Jobs and the Economy

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Chip AI Ilustration (Doc: Unsplash)

Uzone.id – The development of Artificial Intelligence (AI) carried out by technology giants has recently progressed very rapidly. This rapid progress has sparked concerns about its potential to take over human jobs. If this happens, of course, it will have a big impact on change and could even lead to global economic collapse.

This concern is not without reason, considering that AI can perform tasks that were previously considered exclusive to humans more easily. Jobs that AI can currently do include data analysis, pattern recognition, and even decision-making.

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In a new analysis, IMF staff examine the potential impact of AI on the global labor market. Many studies have predicted the likelihood that jobs will be replaced by AI. Yet we know that in many cases AI is likely to complement human work. The IMF analysis captures both these forces.

The findings are striking: almost 40 percent of global employment is exposed to AI. Historically, automation and information technology have tended to affect routine tasks, but one of the things that sets AI apart is its ability to impact high-skilled jobs. As a result, advanced economies face greater risks from AI—but also more opportunities to leverage its benefits—compared with emerging markets and developing economies.

One real example given by Carl Frey, an expert from the Oxford Martin School said “AI-powered robots have replaced human workers in factories, warehouses and other manufacturing industries”. This could lead to a massive loss of human work and raise concerns about the future of the field.

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This concern is exacerbated by the potential for AI to replace workers working in the service sector. “AI is already being used to automate customer service tasks, financial analysis, and even medical diagnosis,” said Frey. Even though these jobs require human interaction and empathy, they can still be taken over by AI.

Some experts believe that one day, AI will take over human jobs completely. This is believed by Elon Musk, the CEO of Tesla and SpaceX. If this happens, then mass unemployment and global economic collapse will certainly be inevitable.

“AI will take over all jobs and probably sooner than we think,” Musk said.

However, several other experts respond more positively to the presence of AI, namely Andrew Ng who is a leading AI expert. According to him, AI has the potential to increase productivity and create new jobs. However, he did not deny the possibility of job losses and economic inequality. Therefore, he believes that society must prepare itself when AI plays a further role than it currently does.

“We need to prepare for a world where AI plays a much bigger role in our lives. This will require changes to our education and training systems, as well as our social and economic policies,” Ng explained to Weforum.

The actual impact of AI on jobs and, more importantly, on the global economy is still uncertain. However, it is important to consider the potential risks and prepare for the future if AI takes over a greater role for humans.

Technology certainly cannot be stopped anymore, if one person stops a technology, then someone else will discover it. So governments, businesses, and individuals certainly need to work together so that the benefits of AI can be maximized with minimal risks. This can be done by investing in education and retraining to help workers adapt to economic changes. Developing policies that are based on justice and equality in society is also needed in the AI ​​era.

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The future of work and the global economy with AI is full of uncertainty. However, with careful planning and preparation, we can ensure that AI can still be used for good and create a future that benefits everyone.

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