IBM has always believed that 100% of jobs will ultimately change due to the impact of AI. Recent empirical research conducted by the MIT-IBM Watson AI Lab provides insights into the prediction and explains how it’s going to happen. The joint research by Massachusetts Institute of Technology and IBM scrutinized the probable applications of Machine Learning in 170 million online job postings between 2010 and 2017 and came up with a report “The Future of Work: How New Technologies Are Transforming Tasks.”
46% Decrease in Job Tasks
The research examined the impact of Artificial Intelligence on employment and inferred that the result will be a significant decrease in the number of tasks. It additionally stated that work that would require “soft skills” would be given more focus on. The study revealed that there was a 46% larger decline in demand for tasks that are more apt for AI and ML. Tasks are shifting between people and machines, but the change is slow.
Martin Fleming, Vice President and Chief Economist at IBM quoted, “As new technologies continue to scale within businesses and across industries, it is our responsibility as innovators to understand not only the business process implications, but also the societal impact.”
Low and High-wage Jobs Are Gaining Tasks
Among the three tiers of jobs, low-wage, mid-wage, and high-wage, low and high-wage jobs are gaining traction while those in the middle are getting squeezed, data shows. The wages for the winning tiers are getting higher. On average, low-wage workers received $600 more while high-wage workers got $1,200 more every year over the same period when their earnings were compared with the mid-wage workers.
AI has just entered the sphere of Human Resources and is transforming work at a steady pace for the moment. As more AI-powered solutions hit the deck, the progress would most probably accelerate. The workforce will need to adapt to the situation with constant learning and development. Job-roles will need modifications and AI will constitute an important aspect of the employee lifecycle. Employers need to start taking measures to reskill their people and get them ready for the future of work.
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