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Artificial Intelligence and Employment: Issues and Challenges
Abstract
Technological progress in the form of information technology has helped industries immensely by operating efficiently and competitively. In the past decade, the pace of progress in information technology, especially in the area of artificial intelligence, has transformed the way these industries function. Today, almost every aspect of production and business activity is influenced by artificial intelligence. While such transformation has greatly benefited production activities, its impact on social constructs, especially employment, is a matter of debate. This chapter studied the potential impact of artificial intelligence on employment. Based upon the review of the research studies from across the globe, the study concludes that adoption of artificial intelligence will have a positive impact on economic growth, whereas its impact on employment to a great extent depends upon the technology absorption capacity of the economies and the government's ability to incorporate the existence of artificial intelligence while preparing policies meant to mitigate the concerns of society.
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