Robotics, Artificial Intelligence and Machine Learning are some of the popular emerging technologies that are advancing at a rapid pace. With its usage, applications, scope and how they are on a way of making revolution through automation, there seems to be an impact of these technologies on employment and public policy.
People now are often worried about what if robots take jobs, what if Machine Learning algorithms and Artificial Intelligence systems determine public policy. In this article we will be discussing the role of artificial intelligence in future technology. Here you will learn the impact of emerging technologies – robotics, AI & and employment and public policy.
Emerging Technologies and Employment
Today, technologies like robotics, artificial intelligence, and machine learning have shifted the workforce from physical to automated labor possibilities. This shift might be seen as a major disruption why? Because there is a notion going round the corners that AI algorithms may push the workforce towards employment. Indeed this disruption will completely reconsider and reanalyze the way businesses tend to compete in recent times.
Artificial Intelligence, Robotics & Machine Learning in the Workforce
AI, ML & Robotics can enhance the speed, quality, and transparency of various services. But, at the same time, they might displace large numbers of workers. So, when we examine the benefits model of AI & ML in several areas medical, economy, education, and retail we also see a dramatically fewer workforce or AI replacing, automating the work processes of the workforce. Hence, more often modern technologies challenge the traditional benefits model that would save jobs.
The impacts of automation technologies are quite huge and obvious. The global economy is now recognizing the role of artificial intelligence in future technology. Apart from AI, machine learning and robotics are also at a surge. Over the past two decades, the count of worldwide industrial robots has increased rapidly. Yes, today, robots can operate and manage all tasks all-day long with zero interruption. This makes robots cost-competitive in comparison to human workers in terms of automation, scalability and less manual errors.
For example- Talking about artificial intelligence and machine learning algorithms in human resources, they can manage human resources, analyze data, minimize fake attendance and implement stock trades. All of these can be done in a fraction of a second, quite faster than human force. Hence, the impact of AI & ML on the service sector is massive. Remember, all of these emerging technologies will become cheaper, more capable, technologically advanced and more widespread. Hence, they’ll find even more employment opportunities.
Automation Technologies – Size of Impact & Workforce
According to the World Economic Forum’s “The Future of Jobs Report 2020”, AI is expected to replace 85 million jobs worldwide by 2025. The same report predicted that it will also create close to 97 million new jobs in that same timeframe.
Some experts have advised about wobbling unemployment while others denounce that technology might create new job categories that will employ displaced workers. Apart from such indications, some argue that automation technologies shall have little effect on employment in the future. Truth be told, any approach that addresses the future of employment attributes uncertainty of outcomes on employment.
Robotics and artificial intelligence are automation technologies that might make jobs less secure in the future. But for this to happen, there needs to be a course of action to deliver benefits outside of employment. We shall discuss this ‘way’ some other time.
How will Robotics Affect Employment?
As per the estimations made by the OECD, 14% of current jobs could disappear due to automation in the next 15 to 20 years. The robots will affect employment, both positively and negatively. Today, robotics is shaping how many industries operate. On one hand, the economy is being lifted by the new concept of robotics. On the other hand, the loss of job opportunities is a response to robotics.
Positive Impacts of Robots in Employment
In workplaces, employees are required to consume several hours doing habitual & typical tasks. Robotics offers an opportunity to reduce monotonous tasks.
Robots don’t depend on the work of other individuals. They function without separating their consideration between a large number of things. Hence, robotics offer consistency in the workplace.
Reduction in Labor is another benefit of robotics. Robots will affect employment because they’ll decrease human-oriented work & assist organizations with the main concern.
Safety is one of the clearest approving positions for using robotics technology. Employees who have to work on hazardous jobs thank robots for evacuating a portion of the dangers. After all, robots can easily function with heavy hardware, machines, and tools.
Negative Impacts of Robots on Employment
Robotics is a technology that demands higher maintenance and installation costs.
With robots, workplaces need to compromise with flexibility.
Robotics and enhanced Risk of Data Breach go hand in hand.
Loss of Jobs and reduced lucrative career opportunities.
How will Machine Learning Affect Employment?
Machine learning computer systems are sophisticated. Hence, we can say that ML is an emerging technology used to transform the economy to the greatest. Machine learning will very soon exceed people in several tasks, nevertheless, they’re unlikely to replace people in all jobs.
Positive Impacts of Machine Learning on Employment
Machine learning will affect employment by assisting HR in managing the recruitment process from start to finish.
Using machine learning’s usable analytics, the employment force can be improved. ML systems will modernize the recruitment process, reduce errors and improve results in the workplace.
Automation of workflows is another major positive effect of ML in the workplace. Augmenting onboarding, scheduling interviews, training, testing, and handling the workforce can all be done easily by machine learning.
Negative Impacts of Machine Learning on Employment
Reports and surveys reveal that more than 120 million workers globally will need retraining in the next three years because of artificial intelligence’s impact on jobs.
The adoption of ML systems might result in massive job losses.
How will Artificial Intelligence Affect Employment?
AI is expected to affect employment opportunities to a great extent. Yes, very soon, Artificial intelligence will multiply efficiency, simplify tasks, and increase job specialization. AI is also expected to increase “human skills” like creativity, problem-solving, and quantitative thinking.
Positive Impacts of Artificial Intelligence on Employment
Using AI algorithms, employment would be more creative. Artificial intelligence is capable of creating new job roles to support the working of AI and robotics devices.
It will be AI that’ll eliminate unconscious and conscious prejudices in the hiring and remuneration of staff.
Artificial Intelligence will benefit employees in the workplace. It will ensure the appropriate safety gear via its intelligent scanning technology.
Negative Impacts of Artificial Intelligence on Employment
Artificial intelligence will affect employment negatively also. An increase in Unemployment is one such example. With the use of AI in every employment field, there will be a time when workers might have to go through a phase of unemployment.
The adoption of AI in the field of Data Science indicated an increase in Cyber Crimes. Massive unstructured datasets will be collected and analyzed. But, this huge data is always at risk of stealing and hacking.
AI’s incorporation into business and the workforce might result in a lack of jobs in the market. This will, indirectly, lead to a lack of freedom for people as well.
Final Takeaway
Yes, there is a lot of fear in the minds of people that computers & automated technologies will take over humans. But, remember, these are the same technologies that offer greater scope for new job roles in the AI and Robotics sector. In case you want to know about Machine Learning and Artificial Intelligence in detail, you can enroll for the courses offered by The IoT Academy.
