Artificial intelligence (AI) is poised to revolutionize modern economies, leading to significant changes in the nature of jobs and employment. While concerns about job displacement and unemployment due to AI are prevalent, historical evidence suggests that AI will create more jobs than it kills. The ‘lump-of-labour’ fallacy, which assumes a fixed quantity of work, has been debunked by past technological revolutions. AI is expected to follow a similar pattern, contributing to higher employment through increased productivity and the creation of new demand. This article explores the potential impact of AI on job creation, the role of innovation, and the economic challenges posed by AI. It also discusses policy prescriptions to ease the effects of job dislocation and the need for educational innovation to adapt to the AI transition.
Read the full story: TechCentral
Will AI create more jobs than it kills?
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