Does artificial intelligence technology replace human jobs?

Does artificial intelligence technology replace human jobs?

The relationship between humans and machines is a historical one, crafted by humans to meet their specific needs according to the technology available at the time. Changes in this relationship are evident through successive industrial revolutions and changes in various manufacturing models. After the third industrial revolution, driven by fossil fuels, the fourth industrial revolution emerged equipped with advanced technological capabilities such as artificial intelligence, machine learning, automation, and other advanced technologies in the twenty-first century.

The economist Ludwig von Mises, born during the second industrial revolution (1870-1918), mentioned that machines are necessary to increase productivity. In his book “Anti-Capitalistic Mentality,” he states that “the increase in what is called labor productivity is due to the employment of better tools and machines.” Indeed, machines and advanced technology have contributed to human prosperity and improved productivity at work. Today, artificial intelligence solutions have contributed to increasing productivity and profitability in many sectors of the economy in various fields such as space, agriculture, the military sector, health, education, e-commerce, and many others.

At the same time, many experts and business owners warn that the extensive reliance on artificial intelligence solutions may pose an existential threat to humanity because these technologies may replace human jobs, especially since they can enhance productivity and accuracy to a greater extent than human labor. The question here is: Can artificial intelligence indeed pose a functional existential threat to humans?

Throughout history, there has been fear of machines replacing humans due to the increased productivity they possess compared to humans, which has been a major concern for farmers, factory workers, and others. Regarding artificial intelligence technologies, they have a significant impact on productivity at work and may replace many jobs in the future, but this time not only in factories and farms but in all sectors and industries like industry and services. It is believed that these technologies will pose a threat by displacing jobs because they will perform roles better than the tasks performed by humans but with greater efficiency and accuracy. In the near term, this may lead to economic disruption, unemployment, and widening income inequality. However, the situation differs in the medium and long term, especially in our rapidly evolving digital world.

In the medium and long term, especially in our rapidly evolving digital world, artificial intelligence is revolutionizing the job market by creating new job opportunities and specialties that were previously unimaginable. As artificial intelligence technologies continue to advance, new jobs emerge, such as artificial intelligence ethicists, data scientists, specialists in automation, machine learning, and deep learning, among many other opportunities that have emerged with these technologies. This expansion not only contributes to diversifying the workforce and increasing its productivity and efficiency but also contributes to economic growth by leveraging the potential of artificial intelligence-based innovations. Companies benefit from artificial intelligence technologies to streamline operations, enhance productivity, and provide personalized customer experiences, ultimately leading to increased profitability and sustainable growth.

The integration of artificial intelligence technologies across various industries reshapes market dynamics, providing companies with a competitive advantage and driving expansion into markets. As artificial intelligence becomes more entrenched in business operations, organizations experience improvements in efficiency, cost reduction, and increased competitiveness in the market. The symbiotic relationship between artificial intelligence and human expertise paves the way for a new era of innovation, collaboration, and growth in the global market. Therefore, despite the risks associated with these technologies that must be addressed in the present, adopting these technologies will contribute to increasing innovation, industry growth, promoting future job creation, and sustainable economic growth.

Note: This article has been automatically translated.

Source: Akhbar Alkhaleej

Ali Faqeeh, Research Associate

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