Serious disruptions could be underway in the jobs market from an explosion in artificial intelligence, and human intelligence needs to intervene and temper this to balance technology needs with that of society, International Monetary Fund Deputy Managing Director Gita Gopinath said Monday
WASHINGTON (Pakistan Point News / Sputnik - 05th June, 2023) Serious disruptions could be underway in the jobs market from an explosion in artificial intelligence, and human intelligence needs to intervene and temper this to balance technology needs with that of society, International Monetary Fund Deputy Managing Director Gita Gopinath said Monday.
"It is by no means guaranteed that AI will benefit humans, or that the gains of the winners will be sufficient to compensate the losers," Gopinath said in a speech at an event to celebrate industrial innovation. "It's quite possible that AI might simply replace human jobs without creating new, more productive work for humans to move into. As we confront the power and perils of the artificial hand, we need to summon every ounce of our empathy and ingenuity�the very things that make human intelligence so special."
Gopinath said AI could affect occupations and industries differently than previous waves of automation.
"Recent empirical studies suggest AI could reduce job-market polarization, by putting downward pressure on wages of high-paying jobs," she said. "Some studies suggest that AI adoption could flatten the hierarchical structures of firms, increasing the number of workers in junior positions and decreasing the number in middle management and senior roles. The number of jobs affected could be sweeping�some researchers estimate that two-thirds of U.S. occupations could be vulnerable to some form of automation."
Gopinathb said sound, smart regulations that ensure AI is harnessed for the benefit of society are thus required.� "One of the challenges is the extent to which humans may come to depend on the judgment of AI systems. They rely on existing data, and hence may replicate the embedded bias in that data. Some models have shown a tendency to confidently defend false information�a phenomenon known as AI 'hallucination.' If we cede control to AI in areas such as medicine and critical infrastructure, the risks could be severe and even existential."
