How AI and automation will affect work

How AI and automation will affect

How AI and automation will affect work is a very important topic and many professionals have worried about this. In this blog How AI and automation will affect work, I will discuss some of the facts that you all must know. definitely, the post How AI and automation will affect work will reduce your fear and you enjoy reading. If you have some thoughts on How AI and automation will affect work please mentioned them in the comment box. the best comment I will cite in my next blog keep reading.

Even as AI and automation provide benefits to business and society, we must prepare for big disruptions in order to function.

How AI and automation will affect work
How AI and automation will affect work

Approximately 50% of the actions performed by workers might be automated.

Our research of over 2000 job activities across over 800 occupations reveals that certain types of tasks are more easily automated than others. Physical tasks in highly predictable and organized contexts, as well as data collecting and processing, are examples. These activities account for nearly half of all activities performed by humans across all industries. Managing others, offering knowledge, and interacting with stakeholders are the least vulnerable categories.

Automation will influence almost all jobs, although only around 5% of occupations will be totally mechanized by already shown technology. Many more jobs contain elements of their component tasks that are automatable: we estimate that around 30% of the activities in 60% of all occupations might be mechanized. This means that the vast majority of people, from welders to mortgage brokers to CEOs, will have to coexist with fast-developing robots. As a result, the nature of these jobs will most certainly alter.

Some occupations will suffer severe job losses by 2030.

Some workers will be displaced by automation. We discovered that roughly 15% of the global workforce, or around 400 million employees, may be replaced by automation between 2016 and 2030. This corresponds to our midway scenario for forecasting the rate and breadth of adoption. That amount climbs to 30%, or 800 million jobs, under the quickest scenario we’ve analyzed. Only approximately 10 million individuals would be displaced under our slowest adoption scenario, representing less than 1% of the global workforce.

How AI and automation will affect work
How AI and automation will affect work

The wide range highlights several factors that will influence the pace and breadth of AI and automation adoption. Automation’s technical viability is merely the first impacting element. Other considerations include deployment costs, labor-market dynamics such as labor-supply quantity, quality, and related pay, advantages other than labor replacement that contribute to business reasons for adoption, and, lastly, societal norms and acceptability. Because of differences in the aforementioned factors, adoption will continue to vary significantly across countries and sectors, particularly labor-market dynamics: in advanced economies with relatively high wage levels, such as France, Japan, and the United States, automation could displace 20 to 25 percent of the workforce by 2030, in a midpoint adoption scenario, more than doubling the rate in India.

Gained jobs: During the same time period, new employment will be created.

Even when employees are displaced, there will be an increase in demand for labor and, as a result, jobs. We created labor demand scenarios for 2030 based on numerous demand drivers, such as growing wages, higher healthcare expenditure, and continued or increased investment in infrastructure, energy, and technology research and deployment. These scenarios predicted that extra labor demand would range from 21% to 33% of the global workforce by 2030, more than compensating the number of jobs lost. Some of the greatest benefits will be seen in rising economies like India, where the working-age population is already enormous.

Additional economic growth, particularly company dynamism and growing productivity growth, will also support job creation. Many more new vocations that we cannot now envision will develop, accounting for up to 10% of new employment generated by 2030 if history is any indication. Furthermore, technology has generally been a net employment generator. For example, the advent of the personal computer in the 1970s and 1980s resulted in the creation of millions of employment not just for semiconductor manufacturers, but also for software and app developers of all sorts, customer service representatives, and information analysts.

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