The Impact of AI on Jobs: Experts Weigh In
In recent discussions with CNBC-TV18, Cred CEO Kunal Shah made a bold statement, suggesting that around 90 percent of people's jobs are at risk due to the rapid advancement of artificial intelligence (AI). While some may hold a more optimistic view that AI will merely enhance human capabilities in the workplace, Shah believes otherwise.
Shah emphasized that many people are not fully aware of the risks posed by AI. He expressed confidence that within the next decade, a substantial portion of the current job market may become obsolete. "We are not realizing the risk of AI. I can tell you with confidence that 90 percent of people who have jobs right now may not have their jobs relevant 10 years from now," Shah asserted.
One common counterargument to these concerns is the idea of upskilling – individuals acquiring new skills to stay relevant in the job market. However, Shah is skeptical of this approach. He believes that upskilling rapidly enough to keep pace with AI advancements will be an enormous challenge for most people. He added, "The time to upskill is going to be a real challenge. Unless you are a very curious compounding person, everybody's job is at risk."
Kunal Shah is not alone in expressing these concerns. Sam Altman, CEO of OpenAI, which developed ChatGPT, has also discussed the potential impact of AI on jobs. Altman suggests that AI will not only be a supplement to human labor but could replace certain jobs entirely. He cautioned against the belief that AI advancements will only bring positive outcomes for humanity.
Altman also hinted at the power and capabilities of AI technology, revealing that OpenAI could have created something even more powerful than ChatGPT. However, he expressed concerns about the public's readiness for such an advancement, describing the potential shock and "unpleasant" consequences it might bring.
As we move forward into an increasingly AI-driven world, these perspectives from industry leaders serve as a reminder of the ongoing debate about the role of AI in the job market and its potential impact on the workforce. The future of work may indeed be shaped by how effectively individuals, businesses, and policymakers adapt to these technological changes.
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