The advancements in artificial intelligence of the past few years have been mind-blowing. They have given rise to much research and analysis about the future of work. They have also given rise to a lot of nonsense. The trick is to figure out which is which.
On one side of the argument are respected academics and global consulting organizations. In their tremendous book, Race Against the Machine, Andrew McAfee and Erik Brynjolfsson offered dire predictions of the increasing power of AI and the erosion of jobs it will bring. Their advice? Don’t fight it – instead, figure out how to work with technology change to get the greatest benefit as individuals and as a society. There have been dire predictions about how big job losses will be, but the best-informed numbers come from the McKinsey Global Institute. They predict that automation will eliminate only 5% of today’s jobs. But it will also have an impact on 60% of total jobs. On average, workers in those fields spend one-third of their time doing routine work, and routine labor is the easiest to automate. So, no matter what you do for a living, it would be wise to buckle your seat belt.Read more