There's been a lot of discussion about AI of late, and a lot of controversy. One of the biggest points of contention is that it is going to be the cause of job losses. Possibly thousands, or even millions of jobs. As of right now, AI has already resulted in some job displacements. The vast majority of these losses have been entry-level and routine task jobs. Meaning, of course, younger workers, aged 20-25 have seen significant drops in employment opportunities. Oddly, older workers in the same sectors have not experienced the same drops. Interesting, huh? Layoffs across such industries as tech, media, and customer support that have been linked to AI adoption predict more workforce pressures ahead.
However, as of today, broad, mass unemployment from AI adoption hasn't happened yet. Central bank data suggests that AI adoption hasn't significantly increased overall unemployment so far and is more associated with re-training than layoffs. Studies find no evidence of large-scale job loss overall and unemployment rates remain relatively low in economies aggressively adopting AI.
So, why exactly, so far, is the impact 'mixed'? AI doesn't always eliminate jobs outright, it often transforms jobs by automating parts of the work, changing what people do rather than making them obsolete. Analyses estimate that AI and automation create new roles, as in AI development, maintenance, oversight, and complementary fields that outnumber direct AI-related cuts, though they may require higher skills or retraining.
Workers in routine, repetitive, or entry-level positions are most at risk today, while roles requiring complex human judgment, creativity, care, and interpersonal skills are more resistant, and these roles may even grow.
Economists and business leaders disagree on the scale and timing of future job losses. Some forecast modest job losses in the next decade with a significant need for worker retraining. Leaders in the technology field have explicitly warned that AI could automate a large share of white collar jobs within a short time frame, which could pressure employment if adaptation lags. International organizations (like the IMF) highlight that many jobs will be transformed or enhanced by AI, not simply eliminated.
To sum things up, it's fair to say that AI has already contributed to job losses and reshaping of roles in certain sectors. But it has not caused a widespread collapse of employment overall. Many displaced workers are moving into different jobs or retraining, and new AI related job opportunities are emerging at the same time. We are experiencing more of a 'transition phase' than something more serious and disruptive.
Now that we have discussed AI from a broad perspective, let's talk about it from a more personal viewpoint. For students, when given an assignment to write an essay, or discuss the fine points of a book, or 'give your views' on what message the author was trying to get across, it's too easy, too inviting, too irresistible to not ask an AI app to do this for you. It can be done in a matter of seconds. And the answer will be credible, perhaps even impressive. Professors, teachers, often pressed for time and underpaid will be more than willing to assume that the student has read the essay, or book and given the assignment due diligence and written what they think. If that's the case then they have indeed learned something. Like how to understand and interpret what they have read. Undoubtedly, a very critical skill required for success in life. If they have copy/pasted what ChatGPT, Claude, or Gemini told them, what have they learned? That's a rhetorical question, of course. Nada, zip, zilch, zero. AI wasn't intended for that purpose, but it's pretty safe to assume that it is often used for such.
There are endless articles of literature and science and the arts that expand our view of the world and help us to understand it. But if we lack the basic ability to read and understand and interpret, then the work of the great thinkers before us is lost. The works of Michelangelo and Leonardo daVinci have fascinated humans for centuries. But for those curious enough to ask why, why their work is so fascinating, who was Michelangelo and daVinci, what were their lives like, where did they come from? Yes, those answers can be found (quickly) through an AI app. But nothing on any AI app can give you the insight that can be gained through reading a book on Michelangelo or Leonardo daVinci. A book where an author has taken the time to research their lives and interpret all the knowledge he has learned from his research. We can all look at the frescos on the Sistine Chapel ceiling, St. Peter's Basilica dome, the Mona Lisa, and appreciate them. Without knowing a thing about who created them. But once you have taken the time to read about them, who they were, what happened in their lives that made them the artists they became, then you can truly appreciate their magnificent work. Fascination becomes real. Michelangelo and Leonardo daVinci didn't have AI. They didn't need it even if it were available to them. They were creative thinkers...