Niño Becerra reveals if Artificial Intelligence endangers jobs

Niño Becerra reveals if Artificial Intelligence endangers jobs

2023-06-08 00:50:35

Thursday, June 8, 2023, 00:50

The great wave of Artificial Intelligence (AI) is revolutionizing the economy by leaps and bounds. With the promise of greater efficiency in countless productive tasks, but also the threat of turning the labor market around. Economists around the world discuss whether these employment effects will be more positive than negative, or vice versa.

Santiago Nino Calf has his opinion on the matter and has recently expressed it in a Twitter thread. “Surely you have read several articles (they are usually summaries of conferences or round tables) in which the objective is to allay fears that AI is going to eliminate jobs,” begins the Ramón Llull University professor.

In this regard, he adds, “there are two lines of argument.” The first is whether “there will be job cuts but new jobs will emerge (now nobody knows what they will be like or what they will do) that will compensate for the cuts.”

A second reflection is that no job will disappear, “what will happen is that the current ones will become much more efficient because a person will be able to generate much more activity because the routine will be entrusted to the AI.”

As for the first line of argument, for Niño Becerra it raises “an automatic question: and these new jobs, can’t they be filled by AI?”

Regarding the second, “and what will people whose job consists of performing routine tasks do? Other than that, what prevents AI from becoming more sophisticated and doing more and more valuable tasks?

Conflicting visions of Artificial Intelligence

Other experts, such as those at Deutsche Bank Research, believe that unemployment fluctuates “in response to business cycles, not waves of technology.” So, they predict, artificial intelligence will create more jobs than it will destroy.

However, last May it contributed to the loss of almost 4,000 jobs in the United States, according to a report by an outplacement company, due to the speed with which this technology is capable of performing advanced organizational tasks.

For Niño Becerra, the entire debate that arose around AI and the labor market reminds him of “what was said, in the early 80s, with the massive relocation of manufacturing lines to the so-called emerging economies.”

At that time, “it was said that people who were left without work would take up tasks of greater value. And the reality is that in the USA, for example, the average real wage is at the level it was in the 1970s».

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