REPLACING

Artificial Intelligence and the future of jobs


Recent developments in robotics, artificial intelligence, and machine learning are driving the world to what is now called “the fourth industrial revolution".
People are pushed towards using and interacting with technology in new ways, such as understanding and dealing with the complexity of the entangled world we are living in.

“We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before.”

Klaus Schwab

Founder and Executive Chairman
of the World Economic Forum

Rise of A.I.

The rise of Artificial intelligence (A.I.) is dominating headlines with news associated with AI research and product development fueled by large investments coming from both private corporations and governments.

Robotics

Investment in Robotics have been a steadily growing trend in the last year. In 2015, driven by A.I. enhancements there was a surge on said investment that almost doubled the funds.



THE ECONOMY OF THE FUTURE

According to an analysis by Pwc Research AI could contribute up to $15.7 trillion to the global economy in 2030, more than the current output of China and India combined. Of this, $6.6 trillion is likely to from consumption side effects.

According to the analysis, global GDP will be up to 14% higher in 2030 as a result of the accelerating development and take-up of AI – the equivalent of an additional $15.7 trillion.



A driver of change

Four ways of increasing revenues through A.I. & Robotics.



Global GDP forecast

Economies that will be boosted by AI effects.

Global GDP forecast

PWC RESEARCH

WORKFORCE REVOLUTION

The growing trend of this "new industrial revolution" affects every country in different ways, even if it impacts workforce on a global scale.
Each country has a different number of employee and they generate different wages, is in a different context and has a different potential, but the rise of automation in positive or at least steady in every place.


The potential impact in the U.S.A.

The automation potential is a percentage that highlights of how many employee could be assisted with a robot or an AI. The U.S.A. are taken as an example for this section for the high rank of potential automation and research investments.

The feasible impact


Every job could be divided in a list of tasks common for each sector. That division can be used to show how many hours (already on percentage on that task total) could be automatize, and how much it could impact on said task.

Accomodation and food services Manufacturing Agriculture Transportation Retail trade Mining Others Construction Utilities Wholesales Finance Arts and Entertainment Real estate Administrative Healthcare Information Professional Services Management Education

MCKINSEY

PUBLIC OPINION

Many respondents in a recent Pew Research Center canvassing of technology experts predicted that advances in robotics and computing applications will result in a net displacement of jobs over the coming decades – with potentially profound implications for both workers and society as a whole.



?Will robots and computers do much of the work currently done by humans in 50 years?

Public Opinion survey 1

?Will your current job exist in 50 years?

Public Opinion survey 1

Experts opinion

Public Opinion survey 1

PEW RESEARCH CENTER

“The issue is not that automation will render the vast majority of the population unemployable,” he says. Instead, jobs created by AI could come too slowly, pay too little, and exclude the least skilled who need them most. Workers who lack the skills or opportunity to quickly find new, decent jobs enabled by automation could find themselves effectively excluded from the job market. That “leaves us with the worry that the only reason we will still have our jobs is because we are willing to do them for lower wages."

Jason Furman

Obama's chief economist

Past waves of technological advancement and demographic change have led to increased prosperity, productivity and job creation. This does not mean, however, that these transitions were free of risk or difficulty, now it’s don’t even clear if we can compare this technological revolution to past ones. Anyway, anticipating and preparing for the current transition is critical, and education should have a key role in this process.