According to recent survey by “World Economic Forum Study”. Around the world as many as 800 million people will lose their jobs to automation.
The study finds that while 75 million jobs will be displaced by 2022 due to the onslaught of machines and algorithms, this very trend is also expected to create about 133 million new roles.
To build a career in Data Science / AI, it isn’t simply about learning a new programming language. Working in data science requires well-rounded knowledge in areas such as statistics, mathematics, NLP, etc. in addition to programming. It also requires good communication skills and an ability to match business problems with technology solutions.
Apart from AI basics, it is useful to delve deeper into subjects such as data science, machine learning, deep learning, Python etc.
I hope all of you will agree this.
Hi sudheerm. If this were to come true who who could afford to buy products being made by AI? Also wouldn’t it be necessary to change the current work-spend way of life to something else.
This prediction means 12 times the population of a country like England would be unemployed or put another way a population bigger than the current size of Europe (https://www.worldometers.info/world-population/europe-population/) would be unemployed.
I am sure all us intelligent humans will find a way to ensure a happy bright future, no matter what. I’m not worried, I am looking forward to it.
Just like all the other technologies that have appeared we will adapt.?
Hi mrfabulous1, For some time no need to change current work. But who are working in software industry particularly Development, Programming and other technology professionals may face this problem after 20 to 30 years. So better they can start learn automation kind of technologies like AI, Machine Learning, Robotics and other automation technologies so that they will get bright future.
Other side there are many research and development companies are working the same so they may come up with alternative to this.
“Onslaught”? Talk about bias.
These lobby reports are mostly junk. They recycle the buzzword of the day into a new report.
“Working in Buzz Area X requires well-rounded knowledge in areas such as Traditional Areas A, B, C etc. It also requires good communication skills and an ability to match business problems with technology solutions.”
Hi [digitalspecialists] RobG,
Your right, but as per my opinion it is not junk reports. As i said research professionals will get with some alternatives as well. At the same time we need to focus on other technologies and skills which will good future for us or else we can continue the same up to we alive.
Small example i am giving below:
10 - 15 Years back there is a huge demand for “Manual Testing” professionals later on automation tools came into the market like QTP then after that manual testing jobs are decreasing day by day. Then after that one more advanced tool released called “Selenium” which is more demanding now a days so every company is using the same so there is no manual testing jobs now a days.
If you guys are interested in this topic, the most interesting review/discussion of such reports I have read so far was in the book “AI Superpowers” by Kai-Fu Lee. Chapter 6 discusses many of these studies and the overall picture that he finds believable. That chapter is actually available as a free excerpt online (here). Things will probably not play out as expected by anyone, but I agree with the author that the “Everything will be fine” rethoric is very probably wrong.
Scanning the economic horizon, artificial intelligence promises to produce wealth on a scale never before seen in human history—something that should be a cause for celebration. But if left to its own devices, AI will also produce a global distribution of wealth that is not just more unequal but hopelessly so. AI-poor countries will find themselves unable to get a grip on the ladder of economic development, relegated to permanent subservient status. AI-rich countries will amass great wealth but also witness the widespread monopolization of the economy and a bifurcated labor market divided into economic castes.
Make no mistake: this is not just the normal churn of capitalism’s creative destruction, a process that has previously always helped lead to a new equilibrium of more jobs, higher wages, and a better quality of life for all. The free market is supposed to be self-correcting, but these self-correcting mechanisms break down in an economy driven by artificial intelligence. Low-cost labor provides no edge over machines, and data-driven monopolies are forever self-reinforcing.These forces are combining to create a unique historical phenomenon, one that will shake the foundations of our labor markets, economies, and societies. Even if the most dire predictions of jobs losses don’t fully materialize, the social impact of wrenching inequality could be just as traumatic.