Artificial Intelligence Embraced- Employment Loss or Job Function Optimization?

Pixabay

Artificial Intelligence (AI) has been embraced by content creators, large businesses and researchers and has been dominating the news lately. Chat bots, large language model (LLM) AI and other protocols including the recently released GPT-4 are being used and finding new use-cases, and will replace jobs worldwide. Despite the removal of jobs from the workplace, it is worth pursing AI development to augment the working world.

Google and Microsoft have both been working on AI interfaces in their products, and OpenAI has been openly invested into by Microsoft for years. Google’s “Bard” AI program is an example of an AI chat bot protocol under development that can help consumers find products and services. Microsoft saw the potential in OpenAI in 2016, and has since invested millions into the company. Chat bots and other LLM protocols can provide services to customers without the need to employ employees, and thus they can be seen as a threat to employment. Just as crane, cotton gins and rail cars were initially seen as taking jobs and putting employee’s futures in jeopardy the opposite was seen. GDP and employment have increased since technology that has increased productivity has been introduced.

Analysts and members of the press has been lamenting the potential job losses that the adoption of AI could create. Recently, Challenger, Gray & Christmas analyzed the ability and scope of OpenAI’s ChatGPT to replace workers in the economy, and the estimate was 4.8 million employees could be replaced. In a more shocking prediction, analysts at Goldman Sachs predict a stunning replacement of 18% of global jobs by AI. These stats are troubling, and the loss of so many jobs in the economy sounds frightening. First of all, these jobs could be automated by AI through the use of chat bots and LLM, but the employees could seek other employment opportunities or their monotonous job functions could be removed. Disciplines such as industrial and manufacturing engineering currently exist to optimize and offshore job functions and have existed for decades and yet employment numbers still increase. Profitable firms require employees who may use AI tools to help them in their endeavors.

Large-scale usage of AI protocols and programs including GPT-4 and Bard will replace employees. This transformation will result in the removal of workers from customer-service positions and could even reduce the number of white-collar jobs as well. Despite the potential for job loss in the current economy, the usage of AI in the workplace will increase profitability of corporations, spur investment and ultimately lead to more engaged employees. Profitability of automated processes will add to the bottom line of corporations and markedly increase investment. Highly capitalized firms with innovative products and services attract top talent, and their need for more employees will become evident.

A Steemit exclusive