The potential of Artificial Intelligence (AI) to improve productivity and profits of companies in the near future is becoming more evident. This has raised concerns among American workers, especially since, historically, productivity gains have rarely translated into higher wages for workers. It is thus unsurprising that many are anxious about the impact of AI returning tech-driven economic inequality to the fore.
To investigate how the “AI-boom” could ultimately play out, experts have reported both pessimistic and optimistic predictions. On the one hand, it has been acknowledged that existing tasks could be automated, leading to the need for fewer human resources and consequently, job losses. Arvind Krishna, CEO of IBM, recently suggested that 30% of the company’s non-customer-facing roles, equaling roughly 7,800 jobs, could be replaced by AI in the next five years. Similarly, BT Group, a British telecoms giant, has advised that up to 10,000 jobs could soon be replaced by AI-based technologies. Though on the positive side, AI could also create numerous new jobs – potentially causing a major overhaul in terms of the prevailing roles.
In terms of reaping the profits that AI could drive, the American people need to have access to available jobs. This can be further aided by workers preparing themselves for the AI revolution. To do this, experts suggest that employees need to become familiar with the new technology and figure out how they can use it to their job’s advantage. With the proper understanding and utilization of AI, it is possible for workers to still receive a salary bump while also shaping a future for workers everywhere.
Specifically in the case of the article, the company and person mentioned is OpenAI and Sam Altman, respectively. OpenAI is an American artificial intelligence research laboratory that focuses on developing and acquiring AI-based tools and technologies. It was founded in 2015 with the goal of promoting safety, collaboration and trust amongst AI-based technologies. Additionally, OpenAI is most notably responsible for ChatGPT, an AI-based technology that could stimulate businesses’ productivity by increasing their efficiency. Sam Altman, a renowned computer scientist, is the CEO of OpenAI and co-founder of the renowned Y-Combinator company. He is an AI and machine learning expert who has invested in several successful AI-based firms.
