Artificial Intelligence Could Adversely Affect Job Prospects in Certain Sectors – Studies Reveal

access_time October 6, 2019
by   TechmavenitAdmin
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Artificial Intelligence is one of the major technological developments that has altered the way business presently is conducted. It has helped raise the productivity levels of organizations and have helped them achieve remarkable growth. However, in the same vein, we should also not be oblivious to the temporary drawbacks that could accompany its implementation. Though the visible drawbacks do not pose serious dangers evenly across all sectors, there are certain specific sectors that have felt its adverse effects. Forrester released a statement, which specifically mentioned that by 2025, robots will have eliminated 7% of all jobs in the US, which represented 89 million jobs. This figure does not instill confidence in the general community, but more especially in the tech community. Let us now go through some of the specific sectors where implementation of AI could have an adverse impact Customer Service Companies eager to increase the productivity level of their enterprises, leverage artificial intelligence technology in to their customer care segment. A study by Oracle has shown that nearly 8 out of 10 businesses have already implemented or are planning to adopt AI as a customer service solution by 2020. Banks and financial institutions are replacing customer care executives with chatbots who attend to tasks 24×7. Cashiers will continue to be replaced by kiosks and self- checkout and self- ordering will all become part of our everyday life. Transportation The use of AI in transportation is expected to provide safe, efficient and reliable transportation for the public. Uber, Google and Tesla are all working on driverless cars and, and these are expected to hit the roads commercially soon. This AI implementation is sure to hit hard workers employed in the transportation sector. A review by Morgan Stanley has stated that driverless cars will save the US $1.3 trillion a year by 2035 to 2050 for a global annual saving of $5.6 trillion. Manufacturing Sector Manufacturing industries were the very first to harness the power of artificial intelligence in their day-to-day operations with the use of robots. It was seen that work could be done faster, cheaper and more efficiently. Robots are used to assemble cars, mobiles, laptops, electronic goods etc, replacing skilled human labor in the process. Over the years, the bulk of manufacturing jobs will be performed by robots, reducing substantially human labor and operating costs. Telemarketers Most of the telemarketers’ jobs will cease to exist in the immediate future as even now telemarketers’ jobs are being replaced by robots. Chatbots presently handle most of these jobs in some technology companies and the day is not far off when most companies will have chatbots handling the telemarketing department. Chatbots are far cheaper and handle communication 24×7. Doctors / Surgeon The health care sector presently is using the artificial intelligence technology in a big way with the help of machines to perform certain procedures including surgeries. Surgical robotics will be able to do more than just improve dexterity and reduce incision size. IBM Watson is able to diagnose diseases more accurately than doctors. All this points to the increasing use of AI in the health care sector and will be responsible for eliminating quite a good number of jobs from the healthcare sector. Finance With more and more financial data being available with companies, “robo advisors” are being employed to automatically dispense advice and suggestions for cases that are relatively simple. Robots can make use of algorithms to offer recommendations to clients regarding spending, saving and investment.

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