Today’s news reveals the impact of Artificial Intelligence on manual jobs. According to UN reports, AI will affect approximately 40% of jobs globally by 2023. There is no doubt that AI changes the way people progress, earn, and thrive professionally. However, it is not without risks: economic opportunities can decline, posing a serious threat to job loss and inequality.
AI Poses Threats to Jobs
Artificial Intelligence has its benefits and risks. When it comes to life, people enjoy the joys AI has provided them without realizing the consequences of giving it due importance over anything. Now that AI is everywhere in health, economic, medical, and corporate departments, there are warnings that it impacts several jobs.
In response, the United Nations has produced a report highlighting AI's impact on almost 40% of jobs worldwide by 2023. The report's insights highlight that the AI domain is expanding in the global market and will be worth $4.8 trillion by 2023. If anyone can use their mind, the number is similar to the German economy.
Impact on Developing or Developed Countries
Artificial Intelligence provides exceptional productivity to all. However, the UN report has raised a serious point that needs attention. The new wave of AI directly hits jobs involving specialised learning and knowledge. If you find it relatable, past technological advances in AI did not do so in developed countries, but now the situation has turned everything upside down.
Like developed countries, the scenario is no different for those striving to boost their economy. It is no surprise that developing countries lack digital tools and AI skills to benefit from technology; this further brings serious challenges. The United Nations report also warns these countries. At the same time, developing countries must invest in the digital domain and reap the fruits of AI potential.
AI Development To Benefit People
The UNCTAD Secretary-General, Rebeca Grynspan, expresses that the development of artificial intelligence must be counted in order to benefit people. She stresses that it does not benefit only wealthy nations but also everyone.
Everyone must know that AI and other digital technologies, such as 5G and Blockchain, can reach a price of $2.5 trillion. Estimations further suggest that they will thrive almost sixfold by 2023. The time is near when AI will become the dominant technology.
Sadly, it will happen in countries like the US and China because these regions are highly concentrated with AI resources and expertise. UNCTAD suggests that countries other than these two invest their money and time in digital technology and get the most out of AI's positive changes.
By doing so, losing manual or physical jobs will no longer be a problem, as AI will come forward with new job opportunities and industries.