Artificial Intelligence will not take away jobs: Expert
NEW DELHI: The Artificial Intelligence or AI will not take away employment but the nature of opportunities would change in tandem with the industry 4.0 revolution and that would require potentially-skilled human resources, according to an AI expert.
“AI is not going to take away jobs but the nature of the jobs will change as a part of industrial and technologyrevolution. In fact, more jobs are going to be created with AI that requires more capacity and potential workforce,” Eightfold co-founder and chief executive Ashutosh Garg told ETTelecom.
5G rollouts require a lot of reskilling of the current workforce, according to the top executive, and the company, he said, help organisations to find the right talent which can be reskilled easily and put them across the right roles, which is fundamental to reach to a $5 trillion economy, from the present $2.8 trillion by 2024.
As many as 25% part-time employees in the United States fear that AI would take their jobs within next 10 years while in the United Kingdom, 67% are worried that AI could enable machines to do human work, according to recent findings.
The manufacturing, retail, telemarketing, and data entry segments are most likely to shrink jobs due to AI expansion, according to a study sponsored by Genesys, while some analysts feel that AI is expected to create new hybrid roles in the manufacturing value chain.
The job roles, according to Garg, are likely to be replaced with individuals who have AI skills, and continuous upskilling to acquire advanced technology skills has become imperative in today’s landscape.
Eightfold, an AI-driven California-based talent acquisition company has recently raised $28 million to further strengthen its portfolio with machine learning capabilities to address hiring challenges.
“Today, with the help of AI, the profile data of billions of people is available, and it helps us to learn from everyone’s career experiences,” Garg said and added that the companies which are adopting AI into their core operations are growing faster comparatively.
The US-based firm is also in talks with some government agencies to address the unemployment issue through technological intervention.
AI has the potential to help companies acquire the right set of talent as well as for the individuals to get into a right job in which they are skilled, the top Eightfold executive said, adding that failing in quick hiring or retaining the right talent make the companies fall behind in all aspects.