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What would be the likely impact of Artificial Intelligence and Automation?

The Artificial Intelligence (AI) Wave is expected to nullify entire job pools where human resources are considered to be cheap labor and lacking functional critical skills. The most common example used is that of fast food chains replacing the service staff with automation that can be controlled by a central AI. The AI would be able to observe consumer patterns and handle resource management better than humans, but may not be able to include human care in service. This is more visible in developed economies than in emerging economies. More functions that are expected to face attrition are telemarketing, advertising, and market research. Yes, there would be some functions where human supervisors are required, but they would now supervise man plus machine. Proponents of AI always state that the job losses from one sector will always be compensated by new jobs created elsewhere. While this is partially true in some cases, it must be noted that job creation is usually in a domain that requires skills of much higher order. There is at least a 5-10 years of education/training gap to make that transition. Hence to maintain social equilibrium during these 5-10 years, we need Social Sector schemes to help support people to make the transition.

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