Era of AI

The debate on whether artificial intelligence will shrink our job market or not has been going on for quite some time now. From an economic point of view, the market always comes back to an equilibrium level, i.e. demand for labor would be in equilibrium with supply of labor. However, automation and rise of robots with  superior AI promises to bring revolutionary changes. Therefore, the clamor around this debate  has always been overwhelmingly pessimistic, such as a fear of the shrinking job market. Consequently, the question of whether the workplace is changing and if yes, then how are we, potential candidates for a job, supposed to adapt to such dramatic changes is an essential question to ask. Stuart Russell in his book, "Human Compatible: Artificial Intelligence and the Problem of Control", talks about the dynamics behind the introduction of automation. He argues that in the distant future the labor force will decline meaning that less number of workers will be needed to perform mundane tasks such as call center representatives. However, if the companies start laying off the blue collar workers, this would inadvertently lower the GDP of the country thereby halting the economic growth. Moreover, this would also mean that the people who will be most affected by automation will be the vulnerable people in the society, i.e.  low-qualified workers, which in return would  escalate the inequality ratio between the blue collar workers and white collar workers. Nonetheless, the answer to the paramount question of what should be done lies in the realm of changing sector. The upcoming generations need to focus more on acquiring soft skills and shift from the manufacturing sector to the service sector.


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