ROBOTS MAY NOT TAKE OVER JOBS QUICKLY, MIT STUDY REVEALS

Fri 26 January 2024:

Amid rising concerns about artificial intelligence (AI) displacing human workers, recent research suggests that the widespread impact of AI on employment might unfold at a slower pace than anticipated. The study, conducted by researchers at MIT’s Computer Science and Artificial Intelligence Lab, sheds light on the economic feasibility of automating various jobs and offers hopeful implications for policymakers grappling with the challenges posed by AI.

Published on Monday, the research delves into the timing and economic viability of AI’s potential to automate human jobs. Contrary to some fears, the findings indicate that a significant portion of jobs considered vulnerable to AI automation is not currently economically advantageous for employers to replace with machines. For instance, the study reveals that only approximately 23% of the wages paid to human workers in roles susceptible to AI automation are cost-effective for immediate replacement by machines.

Neil Thompson, the director of the future tech research project at MIT’s Computer Science and AI Lab and one of the study’s authors, emphasized that, despite AI’s potential to replace tasks, immediate widespread automation is unlikely. He highlighted the importance of considering the economics of implementing AI systems, emphasizing that, in many cases, human labor remains the more cost-effective option.

The study focuses on jobs deemed “exposed” to AI, particularly in the field of computer vision. By analyzing wages paid to workers in these roles and estimating the cost of introducing automated tools, the researchers concluded that, for now, human workers are often the more economically attractive choice.

Thompson drew parallels between the gradual integration of AI into the workforce and historical technological disruptions, such as the shift from agricultural to manufacturing economies. He stressed the need for policymakers, employers, and workers to prepare and adapt gradually to the evolving landscape of AI in the job market.

The research contributes valuable insights for policymakers grappling with the potential impacts of AI on employment. By quantifying the expected pace of worker displacement, the study provides a foundation for more concrete planning, including the development of retraining programs and social safety nets. The findings prompt a nuanced understanding of the timeline for addressing AI’s impacts on the labor market, allowing for more informed and proactive responses to the challenges ahead.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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