PARTICIPATING IN A HIGHLY AUTOMATED SOCIETY: HOW ARTIFICIAL INTELLIGENCE DISRUPTS THE JOB MARKET.

• Author: Vochozka, Marek
• Position: Report

1. Introduction

   The feasibility of artificial intelligence is curbed by the absence of interoperability criteria. (Axel Montes and Goertzel, 2018) Artificial intelligence will make unequaled expected advance in automating narrow (as it is advisable to assess the pattern on a training exemplification that encompasses almost all of the issues the software may deal with) and structured (as machine learning is based on discerning an intrinsic model of data processing) tasks. (Levy, 2018)

2. Literature Review

   Cutting-edge technology frequently entails that old jobs are suppressed and employees are desperate to identify new ones. In an operational economy, technological advance generates increased revenue (Alpopi and Silvestru (Bere), 2016; Kliestik et al., 2018a; Popescu et al., 2018), which consecutively can back more jobs. The first type of technological unemployment takes place when earnings do not adjust for structural grounds, whereas the second one is as an impermanent episode, that is when technological change makes personnel out of work at a swifter rate than they can identify new jobs or such occupations are brought about. Admitting eventually employees adjust to artificial intelligence, the shift may be strenuous. Artificial intelligence will affect some industries more than others (Anderson and Kantarelis, 2016; Kliestik et al., 2018b; Popescu Ljungholm, 2017), and relevant job dislocation will occur. (Korinek and Stiglitz, 2019)

3. Methodology

   Building our argument by drawing on data collected from Accenture, The Economist, Frontier Economics, PitchBook, Tractica, we performed analyses and made estimates regarding the impact of artificial intelligence on industry output: real gross value added in 2035 (US$ trillions), number of AI use cases by industry with high job impact, global merger-and-acquisition activity related to artificial intelligence (number of deals and value, $bn), and the economic impact of AI on countries: annual growth rates by 2035 of gross value added (a close approximation of GDP).

4. Results and Discussion

   The main firms in diverse sectors have capitalized on automation and are upgrading the subsequent bringing forth of processes and abilities to maximize human-machine joint efforts, reconceptualizing operations as vigorous and flexible by employing human and mass inputs and instantaneous information. Artificial intelligence technologies will be decisive in assisting firms in bring labor more convenient to the...