The Impact of Artificial Intelligence on Unemployment and Future Work

Abstract

The rapid development of artificial intelligence should also affect the world market. Unemployment is ex- pected to increase as artificial intelligence can perform tasks performed by humans in many different sectors. The eight- year study (2010-2017) investigates the impact of artificial intelligence (AI) on unemployment in 26 developed and devel- oping countries. More precisely, this study uses data analysis techniques to investigate how the use of artificial intelligence technology affects unemployment in 26 different sectors. The results of a data study compiling World Bank and OECD data show a positive relationship between advances in artificial intelligence and unemployment. The advancement of artificial intelligence is determined by patent information. Due to the differences in artificial intelligence development between the countries studied, artificial intelligence development has been shown to have a positive impact on the unemployment rate in the studied countries. Additionally, compared to younger workers, older workers with higher education may have less impact on employment due to improved skills. Finally, re- search and development (R&D) spending varies widely across countries, making it difficult to aggregate. Therefore, this study does not show the relationship between the share of R&D expenditures in GDP and how artificial intelligence affects unemployment. One of the most talked about topics in the public today is intelligence. Many people associate this with changes in the economy, especially changes in the economy that are generally expected to cause high unemployment. As artificial intelligence becomes more widespread, the public tends to predict which professions will become obsolete and eventually disappear. The healthcare sector is one of the most challenged sectors outside of production due to various medi- cal treatment studies. There are other scientists who disagree with this bad proposition. They argue that the emergence of artificial intelligence will create new jobs, just like all previous economic revolutions. Keywords-- Artificial Intelligence, Unemployment, Future Work, Impact, Automation, Job Displacement, Skills Gap, Job Creation, Manufacturing, Retail, Healthcare, Reskilling, Upskilling, Policy, Regulation, Mitigation Strategies, Labor Market, Education, Training, and Economic Impact.