Effects of Artificial Intelligence on the Job Market

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For years, the media and entertainment industries have expressed worries that machines may take over jobs in the manufacturing industry. Recently, this fear has spread to include a much wider range of jobs, due to the growth of artificial intelligence to replace human work. Artificial intelligence is a field of computer science whose aim is to replicate human intelligence in machines. Since its birth, it has been used in various different applications, including healthcare, manufacturing, and finance.

According to data from several studies, manufacturers will see a tremendous increase in AI due to machine vision, machine learning, and robots, even within the next decade. A study performed by Carl Benedikt Frey and Michael Osborne estimated that 47% of American jobs are at risk of  becoming automated by the 2030’s. Due to the increased capability of machines to complete jobs traditionally required by humans, some researchers speculate that a very large sector of jobs requiring physical work will be lost. However, several researchers also provide the argument that a new group of AI-management related jobs will emerge in the process. 

This theory is supported by the World Economic Forum, which predicted that automation would displace 75 million jobs, but would create 133 million new ones by 2022. While  low-skilled jobs would be completed by machines using artificial intelligence, various high-skilled jobs would be created to manage the technology of artificial intelligence systems. Overall, research supports the theory that although jobs may be lost through the increase in use of AI, several new industries for managing AI related technology and jobs will be created as a result.

Artificial intelligence will clearly have a very large impact on the job market in upcoming years. Due to the rise of more jobs related to computer science, Codefy aims to help students learn the basics of computer programming, and expand on their interests. If you are interested in learning more, please read through the rest of our website!