Now that we've gone through the risks and threats of AI, let's check what are the possibilities of it.
Artificial Intelligence can provide great relief in our day to day life, for example, AI can do various repetitive tasks. In a nutshell, AI learns the work once and repeats it as many times as desired. This way we can reduce the workload from dull and repetitive tasks. AI has replaced many labor level jobs and has lessened the operational costs for the industries. AI has increased the productivity of the industries by doing these repetitive tasks.
Nowadays the amount of data that is generated by humans and machines combined is far greater than humans' ability to absorb it. Artificial intelligence forms the basis for all machine learning. AI is extremely efficient in calculating huge amounts of data and making good decisions based on that data. For this reason, AI is the foundational future of business decision making.
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Below you can see 3 different jobs, that are likely to be done by AI in a future.
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Even though it's inevitable that technology will displace some people from their jobs, it will have positive effects, like being able to focus on personal passions. Many leading economists believe that even if unemployment does arise, our governments are able to develop solutions that allow workers to continue living happy, dignified lives. Advanced AI is likely to be far less of a threat than people suggest.
The picture shows how the job market will be changed in the future. John Hawksworth, the chief economist at PwC, said: "Major new technologies, from steam engines to computers, displace some existing jobs but also generate large productivity gains. This reduces prices and increases real income and spending levels, which in turn creates demand for additional workers."
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