Abstract
In recent years, Artificial Intelligence (AI) has made significant progress in non-routine, cognitive tasks. The May 2023 CfM-CEPR survey asked the members of its European panel to predict the impact of AI on global economic growth and unemployment rates in high-income countries over the upcoming decade. Most respondents believe that AI is likely to boost global growth to 4-6% per annum. It is also stated that AI is unlikely to affect employment rates in high-income countries, with the remainder split between predicting an increase and a decrease in unemployment rates. From farming and education to healthcare and the military, AI is poised to make sweeping changes to the workplace. This paper makes an attempt to answer the question: can it have a positive impact, or are we in for a darker future? This study presents AI implementation into the labor progress model and predicts its possible influence. The suggested model is highly adaptive and will be useful both for practical and academic purposes.
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