AI can reshape the future of work without eliminating it

The rapid emergence of generative AI and large language models have alarmed many traditionists. Among other concerns, many are worried that AI might displace and replace existing workers and lead to mass unemployment.

As the saying goes, “history doesn't repeat itself, but it often rhymes.” Such anxieties and fears over technological advancements are not new.

Take automobiles as an example. Cars were invented and made widely available in the late 19th and early 20th century. With more than 100 years of hindsight, the utility and benefits of the motor car is indisputable. But this was not always the case.

For example, in 1896, Washington DC banned these “horseless carriages” (as cars were commonly known then) on the grounds that they threatened the livelihoods of horses.

But that’s not the main point here. The thing to realize is that the world is messy and complex which makes it extremely challenging to make any predictions reliably.

Consider the equine industry today.

Do you know that the annual economic impact of the equine industry is significant — involving some $300 billion dollars and 1.6 million full-time jobs. Most people outside (and many within) have no idea of the global scale and significance of the equine industry.

Not many people would have predicted this, but the equine industry is in fact thriving. The automobile industry didn't annihilate the equine sector; it diversified it. Horses transitioned from being the primary mode of transport to being used in sports, leisure, and therapy.

Hence, as we stand on the cusp of an AI revolution, it is important to remember that technology in itself is not a zero-sum game. AI can reshape the future of work without eliminating it.

#automation #ai #futureofwork