Economic Revolution And AI
The upcoming economic revolution in artificial intelligence will come as a tremendous shock to the whole planet. A succession of social and economic transformations comparable to those brought about by the Industrial Revolution and the development of the internet might very well occur over the course of the upcoming decade.
When the “laptop class” of employees is wiped out, a growing number of authors, human resource officials, attorneys, writers, artists, and even coders will be replaced by AI. At the same time, manual laborers in blue-collar jobs will have stable employment since technology cannot take their place.
To many young people’s dismay, the media’s recommendation to “learn to code” may have been equivalent to buying typewriters.
The development of artificial intelligence is accelerating rapidly. The recent disclosures of software tools that can replicate human speech, duplicate our voices, compose academic papers, and create stunning paintings are just a tiny portion of the upcoming AI revolution.
The popularity of video games, music, artwork, and even movies created by artificial intelligence (AI) is only one of the impending changes in daily life that will soon be apparent.
A little description and a mouse click can produce a fresh John Steinbeck book or a Thomas Sowell economic dissertation. Several employment that requires a college degree will alter very immediately.
The very individuals who benefited from COVID would suffer greatly from the rapid developments in this new technology, especially those who work in the “knowledge economy” and can frequently do their tasks from home using a laptop.
The majority of the work that a person can enter into a keyboard will be outpaced by developments in artificial intelligence during the next one to five years. Chatbots will write the majority of the information on the internet. Influencers in AI will exist.
The writing of code will take a minuscule fraction of the time required by people. The majority of graphic designers’ revenue will go to art generators. Computers may one day surpass even financial experts and accountants in speed.
With the development of AI, certain white-collar occupations will fare better than others. Those who are at the top of their areas or who develop new ways will still be able to make a fair living. Workers whose positions depend on their personality and face-to-face interactions will probably survive the storm.
Which would you prefer: a machine or a real person counseling you on concerns of law, money, and health care? Nonetheless, the transition to a practically labor-free creative world may result in a decline in the number of white-collar occupations overall.
The upcoming financial crisis will resemble a reverse Industrial Revolution. Practical knowledge-based professions will offer far greater security than “knowledge economy employment” that can be replaced by computers. The only way to replace sheetrock is by doing it.
You can’t get a haircut from an AI, get your plumbing fixed, have your house built, or have lights installed in a public area. The fundamentals of construction, utility work, and complex manufacturing will not change, but AI may make blue-collar employees’ life simpler with new tools and approaches.
In the future, broad information will be mostly known by machines, but practical knowledge will still be put into practice by human hands. The loss of millions of existing well-paying employment has significant societal repercussions.
A widespread identity crisis will be experienced by many people who dedicated their time and careers to one particular profession. There may be significant variations from year to year as a result of the speeding up of societal change and technology development.
Unfortunately, the enormous advancements made in the STEM area may also be its downfall. For the foreseeable future, engineers and academics will remain in demand. Yet, a lot of career pathways in the fields of science, technology, engineering, and math may be drastically curtailed as a result of AI.
The majors would have been more valuable than degrees in social science, but it is a devastating statement.
Creating intelligent computers that can carry out activities that generally require human-like intellect, such as learning, problem-solving, decision-making, and sense is the focus of the rapidly expanding area of artificial intelligence (AI).
AI has a wide range of possible uses, from enhancing healthcare and education to advancing science and revolutionizing industries. Finance, industry, and transportation are just a few of the areas that AI has already had a substantial influence on.
Like with any technology, AI also brings up ethical questions and worries about things like the possibility of job loss, bias and discrimination, hazards to privacy and security, and the effect on social and economic inequalities.
It is critical to proceed with prudence and give careful thought to how AI development and use can affect society. AI has the ability to significantly benefit society and enhance our quality of life when used responsibly and in accordance with ethical principles.