The Impact of AI on Employment: Will ChatGPT replace human workers?
It was always a question of ‘when’ and not ‘if’. Artificial intelligence (AI) has already begun to have a significant impact on employment and the job market. As AI technology, such as ChatGPT and similar natural language processing (NLP) systems, continue to evolve, it raises the question of whether these technologies will eventually replace human workers and make many current roles redundant. This is undoubtedly possible, but it is more likely, however, that employees who are well-versed with AI will simply become more employable than their AI-shunning counterparts.
AI has the potential to automate many tasks that are currently performed by human workers. While this could lead to some amount of job displacement in industries such as manufacturing, customer service, and data entry, it is worth highlighting that automation has been a part of the job market for decades and has often led to the creation of new jobs rather than widespread unemployment.
A blessing to humans, not a curse
AI basically enhances and augments human work, allowing employees to focus on tasks that require creativity, critical thinking, and emotional intelligence—skills that AI currently struggles to replicate. For example, ChatGPT and similar NLP systems can assist human writers in generating content and ideating, allowing them to spend more time for editing and refining their work. Similarly, in the customer service industry, AI-powered chatbots can handle routine inquiries, facilitating human representatives to handle more complex issues.
In a recent Blackbox poll, 88% of respondents felt better technology will be beneficial in the future, indicating that public acceptance for newer ways of doing things is overwhelmingly high.
AI-powered technologies not only automate tasks but give rise to new job prospects. The development, deployment, and maintenance of AI systems require a range of skills, including data science, software engineering, and machine learning. As a result, employment in these fields is expected to grow in the coming years.
Need of the hour: An inclusive approach to AI
We need to be mindful of the fact that the impact of AI on employment will not be evenly distributed. Some industries and job types may be more affected than others, and certain groups of workers may be more at risk of displacement, such as low-skilled workers and older workers. Therefore, it is crucial that governments and organisations take steps to support workers who may be impacted by AI, through retraining programs, unemployment benefits, and other measures. We also need to be mindful about the ethical considerations of AI as we make progress in this field.
Ultimately, while AI has the potential to automate certain tasks and potentially displace some human workers, it is also likely to create new job opportunities and enhance human work. But the take home message is that AI is simply a tool in our hands and how we use it will determine its future impact on employment. Governments, organisations, and individuals must be proactive in addressing the potential challenges and opportunities presented by AI in the job market.
To be ready for an AI-assisted world requires actionable strategies to future-proof your business. Reach out to us on connect@blackbox.com.sg for a consultation.