AI Could Be a New Threat to The Employees, More Details Inside

A quarter of work tasks in the US and Europe may be replaced as a consequence, but new jobs may also be created and productivity may increase.

Additionally, it may ultimately result in a 7% annual increase in the value of all goods and services produced globally.

The report calls generative AI “a major advancement” because it can produce content that is indistinguishable from human-produced content.

New Threat To The Employees


The government has made an effort to reassure the public about the effects of AI and is eager to encourage investment in the field in the UK, which it claims will “ultimately drive productivity across the economy.”

Technology Secretary Michelle Donelan told the Sun, “We want to make sure that AI is complementing the way we work in the UK, not disrupting it – making our jobs better, instead of taking them away.”

The study points out that the effect of AI will differ depending on the industry. It says only 6% of tasks in construction and 4% of tasks in maintenance could be automated, compared to 44% of tasks in the legal and administrative professions.

Some artists have expressed concern that AI image generators could hurt their chances of finding work, according to BBC News.

Lower wages

The future of work head at Oxford University’s Oxford Martin School, Carl Benedikt Frey, told BBC News that there is no way to predict how many jobs will be replaced by generative AI.

For instance, ChatGPT enables more individuals with mediocre writing abilities to create reports and articles.

Because of this, wages for journalists will likely decline unless there is a substantial increase in demand for their services.

“Take into account the development of GPS technology and services like Uber. Knowing all the streets in London had much lower value suddenly caused incumbent drivers to experience significant wage reductions of around 10%, per our study.

Not fewer drivers, but lower salaries were the outcome.

“Generative AI is likely to have similar effects on a broader set of creative tasks over the next few years.”

60% of workers are employed in professions that did not exist in 1940, according to a study that is referenced in the report.

However, other studies indicate that employment creation has lagged behind the displacement of workers since the 1980s.

Also Read | Here Is Everything You Must Know About the Latest AI- ChatGPT

And the report concludes that generative AI may shorten the job outlook shortly if it is anything like earlier information-technology advancements.

Torsten Bell, CEO of the Resolution Foundation think tank, told BBC News that the long-term effects of AI were, however, extremely uncertain and that “all firm predictions should be taken with a very large pinch of salt.”

We are unsure of how the technology will advance or how businesses will incorporate it into their operations, the speaker said.

That’s not to say that AI won’t change how we do our jobs, but we should also consider the potential improvements to living standards that could result from more productive work and services that are less expensive to operate, as well as the possibility of falling behind if other businesses and economies manage to better adjust to technological change.


How can AI affect wages?

The future of work head at Oxford University’s Oxford Martin School, Carl Benedikt Frey, told BBC News that there is no way to predict how many jobs will be replaced by generative AI.


How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

Riya Kapoor

Riya Kapoor writes about lifestyle, entertainment, news and gadgets. She has been in this industry for almost 4 years now. She is a graduate from Delhi University with English Hons and had deep connection with writing since her childhood.

Related Articles

Back to top button