Artificial Intelligence's Impact on Employment: Challenges, Potential Consumers, and Policy Responses Through Automation and Workforce Rehabilitating

Abstract

Abstract: The employment market has undergone an enormous shift as a result of the rapid progress of artificial intelligence (AI). This transformation presents both significant challenges and opportunities. This paper examines the ways in which AI-driven automation is transforming a variety of industries, resulting in employment displacement in sectors that rely on routine tasks and the creation of new roles in technology, data management, and AI maintenance. Addressing the growing disparities between those who benefit from AI and those who are left behind, as well as managing large-scale employment displacement, are the primary challenges. This is particularly true for low-skilled workers. AI, however, also offers chances to boost creativity, productivity, and the creation of highly skilled jobs in cutting-edge industries. In order to alleviate adverse consequences, this investigation underscores the necessity of proactive measures, such as educational reform, reskilling and upskilling programs, and collaboration among educational institutions, governments, and industries. By prioritizing these strategies, the employment market can adjust to the transformative potential of AI, thereby fostering economic development and inclusive job creation by balancing the reduction of traditional roles with the emergence of new opportunities.