3 Daunting Ways Artificial Intelligence Will Transform The World Of Work Posted on : Aug 07 - 2020

Each industrial revolution has brought with it new ways of working – think of the impact computers and digital technology (the third industrial revolution) have had on how we work.

But this fourth industrial revolution – what I call the “intelligence revolution,” because it is being driven by AI and data – feels unprecedented in terms of the sheer pace of change. The crucial difference between this and the previous industrial revolutions is we’re no longer talking about generational change; we’re talking about enormous transformations that are going to take place within the next five, 10 or 20 years.

Here are the three biggest ways I see AI fundamentally changing the work that humans do, within a very short space of time.

1. More tasks and roles will become automated

Increasing automation is an obvious place to start since a common narrative surrounding AI is “robots are going to take all our jobs.” In many ways, this narrative is completely understandable – in a lot of industries and jobs, the impact of automation will be keenly felt.

To understand the impact of automation, PricewaterhouseCoopers analyzed more than 200,000 jobs in 29 countries and found:

·        By the early 2020s, 3 percent of jobs will be at risk of automation.

·        That rises to almost 20 percent by the late 2020s.

·        By the mid-2030s, 30 percent of jobs will be at the potential risk of automation. For workers with low education, this rises to 44 percent.

These are stark figures. But there is a positive side to increasing automation. The same study found that, while automation will no doubt displace many existing jobs, it will also generate demand for new jobs. In fact, AI, robotics, and automation could provide a potential $15 trillion boost to global GDP by 2030.

This is borne out by previous industrial revolutions, which ultimately created more jobs than they displaced. Consider the rise of the internet as an example. Sure, the internet had a negative impact on some jobs (I don’t know about you but I now routinely book flights and hotels online, instead of popping to my local travel agent), but just look at how many jobs the internet has created and how it’s enabled businesses to branch into new markets and reach new customers. View More