Google Study Dispels Notion of AI causing Unemployment, Cites Rapid Advancements and Limitations
Summary:
A study sponsored by Google, conducted by Andrew McAfee of MIT Sloan School of Management, finds no direct link between the rise of high-end technology like AI and unemployment. The research suggests current AI limitations prevent it from conducting complex tasks involving planning and reasoning. Using OpenAI's GPT systems as examples, it notes the rapid improvements of AI. Despite these advancements, the study insists significant work opportunities still require human involvement. The study also warns that AI could lead to job reduction in high-income sectors and disrupt competition in the business landscape.
A latest study sponsored by technology giant Google indicates there's no direct link between the increased usage of high-end technologies such as artificial intelligence (AI) and rising unemployment, despite common belief. Findings of the investigation, which was led by Andrew McAfee from the MIT Sloan School of Management, were shared by Google on 25th of April examining AI's global economic contribution. The research pointed out that the limitations in AI technology prohibit the establishment of any immediate relationship between AI and joblessness, at least for the time being. The findings emphasized that AI still struggles to handle tasks necessitating planning, reasoning, or memory with consistency.
Highlighting a 2023 study where numerous questions were posed to both humans and AIs – questions that demanded skills of planning, reasoning and remembering – the research mentioned that human averages were 92% correct, whilst AI systems only managed 15%. The research, however, suggested that AI's performance is likely to enhance rapidly because of in-depth research instigated to address its inadequacies.
Evidence findings turned to the GPT 3.5 system by OpenAI to illustrate AI's advancement. This 2022-released iteration, which spurred current AI interest, excelled just 10% of human results during a U.S. bar exam. The ensuing variant, GPT 4, released within a year outperformed 90% of humans.
The essence is that even though AI and robotics are powerful, there is no lack of significant work opportunities that require human involvement. The report further drew a parallel between AI as a common use technology and the steam engine that initiated the international Industrial Revolution during the late 1800s.
Unlike the gradual spread during the Industrial Revolution, AI's intrusions are projected to be more instantaneous due to the accessibility and readiness of infrastructure and its easy usability.
In terms of labor implications, the research maintained that while AI might not necessarily lead to extensive job losses, it could potentially result in job reduction among higher income sectors.
The study warns of a possible disrupting impact of AI within competitive business landscapes, potentially giving undue advantage to a select "superstar" group who could then outperform their competitors. "As incumbents fade, layoffs may occur, and the need for workers to seek new employment opportunities and learn new skills will rise," according to the study. However, they noted that companies heavily dependent on machine learning were not the ones resorting to layoffs.
Published At
4/29/2024 3:26:05 PM
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