How corporations can mitigate an AI jobocalypse

https://arab.news/npbm5

Artificial intelligence-related job displacement is coming, though no one knows how fast it will proceed, how far it will go, and which sectors it will affect most. Much depends on the pace at which individual firms apply the technology to their operations. A recent US Census Bureau Business Trends and Outlook Survey indicates that only 20 percent of firms with fewer than 20 employees currently use AI, compared to 37 percent of businesses with at least 250 employees. While larger firms are doing more with the technology, 37 percent is still quite meager considering the survey’s low threshold for answering in the affirmative (whether AI is used “in any business function”). For now, adoption is being impeded by the difficulty of integrating already astonishing AI capabilities into existing workflows in a way that will allow companies to reap the benefits fully. Doing so requires models that are not only trained on existing data but also adaptive to new data generated through everyday use. Another factor inhibiting adoption is uncertainty about cost. Many large firms are still running pilots and postponing hiring or firing decisions as they await more clarity. Eventually, however, competitive pressures will force them to adopt the technology more fully. The outlook for jobs is not entirely pessimistic. If companies continue producing the goods and services they currently produce, AI adoption will have the effect that any........

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