In an age that is becoming increasingly defined by innovative new technology, it comes as no surprise that the Artificial Intelligence (AI) and robotics industry has revolutionised many of the ways we run our everyday lives. Whether for better or worse, this considerably large integration of AI and robotics into our daily routine has somewhat defined the age we live in.
Although a lot of these integrations and developments have improved upon efficiency and overall productivity of a person’s daily routine, there are some who are opposed to this increasing integration of them into our daily life. Those opposed to such AI and robotic innovations range from experts within the industry to ordinary members of the public, with some believing that such technology could be the downfall of humanity.
The two aspects, providing both benefits and potentially negative consequences that robotics and AI may bring for our future are the displacement of many jobs in ‘traditional’ sectors and the creation of many new jobs across many sectors and industries.
How AI is Growing in Israel
Israel is very much at the forefront of global research and development of AI and robotics technology in the 21st Century. Through 2018 alone, there were record levels of investment into the AI and Robotics sectors in the country, according to a recent report by Start-Up Nation Central.
The AI and Robotics industry in Israel between 2014 – 18 saw growth of 120%, developing not just the final products consumers see, but the technology and intelligence behind the scenes. Tech giant Intel have recently announced investment in Israel’s AI and Robotics sector of more than $10 billion, working with Technion Israel Institute of Technology in Haifa, Northern Israel, such is the draw to Israel when it comes to technological innovation in these fields.
So substantial is the growth in the AI industry, that in 2018, AI-related companies in Israel accounted for 17% of the total tech companies in the country, which, in a country whose backbone is tech, is incredibly impressive.
The Displacement of Jobs in the Future
A pessimistic, yet sadly inevitable prediction for the development of AI and robotics is that they will replace many peoples’ jobs, making them effectively redundant in their current roles.
This is likely to be the case as many AIs and robots will be able to perform a plethora of tasks at a much more efficient, productive and (in the long run) cheaper rate. Replacing human workers for AI also eliminates the chances of human error occurring; increasing safety throughout the industry and society overall according to research by the technology department of online casino Betway.
Robots in Travel
One example of how AI technology can be seen to replace human workers in the not-so-distant future is through taxis. Recently, Lyft have teamed up with Waymo to release a small batch of self-driving taxi cars in Phoenix, USA.
This technology, although only just emerging into the public sphere, has built-in technology that allows it to communicate with the road and traffic it encounters in ways that humans are fairly restricted from doing. This new technology has the potential to all but totally eradicate human taxi drivers, making the roads less prone to human error and therefore making strides in reducing fatalities and injuries associated with this.
Robotic Decision Making
Such is the power of AI, that in the UK alone, more and more industries are using AI and machine learning to help make decisions. Covering decisions for everything from second mortgages to insurance and more, machines are not only getting better at helping people formulate informed decisions, but more people than ever are putting their trust in machines. This means that the entire process of making important financial decisions and others is increasingly influenced by clever programming and machine learning.
Creation of New Jobs for the Future
Although the development of AI and robotics could very potentially see the displacement of many jobs, it is also more than likely to create new jobs from within the industry. It has been a well-established pattern throughout history that with revolutionary innovations comes not only the displacement of jobs, but also the creation of many new ones.
The potential creation of new jobs will therefore have a counterbalancing impact on unemployment rates, and could therefore lead to significant reductions in such rates.
Studies have found that whilst many jobs could in theory be performed with AI and robotic technology, it is only a small percentage of this number that can function completely autonomously. Therefore, many new jobs will surface involved in the maintenance and supervision of such technologies.
This potential benefit from such developments in the AI and robotics industry could therefore not only help to alleviate displacement rates for workers out there, but also offer up an exciting new range of innovative and stimulating jobs.