The Impact and Future of Artificial Intelligence Technologies in Business Life
Experts and freelancers are debating whether rapidly developing artificial intelligence systems will completely eliminate professions or simply transform how work is done.
While freelancers like music producer Robbie Hiser train AI models for companies such as Mercor, experts and economists evaluate the potential impacts and risks of this process on the labor market.
Workers Training Artificial Intelligence
Music producer Robbie Hiser believes that even though he teaches AI some of the nuances of his own profession, there will always be a space left for creative humans. Hiser performed model training for Mercor, which works to improve AI models on various subjects ranging from finance to poetry.
Employment Concerns and Research
According to a study conducted by Pew Research, nearly three-quarters of Americans fear that artificial intelligence will take away their jobs. Meanwhile, a McKinsey Global Institute report shows that artificial intelligence could force millions of US workers to transition to new careers by 2035.
Warnings from Economists and Experts
Nobel laureate economist Daron Acemoglu warns that automation could lead to significant job losses. They point out that the current artificial intelligence transition is happening much faster than past industrial revolutions.
Risks for Young Workers
Research from Stanford and the US Census Bureau reveals that hiring rates and wages for young people and recent graduates in fields most exposed to AI, such as software development, are already declining.
New Work Foundation Initiative
Clara Shih founded a non-profit organization called the New Work Foundation to help young workers navigate the changing economy. Shih states that artificial intelligence can now easily perform tasks previously given to youth, such as market research.