THE IMPACT OF ARTIFICIAL INTELLIGENCE (JOB LOSS) ON EMPLOYMENT

Technological development throughout the world specially in AI field suddenly create shocks waves of loosing job among middle skill workers.The number of low education workers such as shop worker, clerks, machine operators, assemblers are already loosing job in EU, USA and China. Darvas and Wolff reports that among the EU countries France, Germany, Italy, Spain, Sweden and the UK the managers, engineers, health professionals and the jobs which are non standard and difficult to replace by automations is growing in demands more jobs created for such professionals whereas the jobs for middle education workers is falling the core of the idea is that by the help of technological advancement and Automated workforce would replace the substantial human work force as because of the accuracy and non disruptive nature of the automated force the more and more money invested on such work force.

The Internet: The internet created the collaborative economy where any one small, medium or the big enterprise may participate in trade or exchange of durable goods the criteria always that who matched the supply and demand automations in shopping like ecommerce gets the boom surge in 22% while only in EU.The Alibaba, Aliexpress and Amazon are such ecommerce platforms. The new wave of automation and machine learning causes serious damages to job guarantees of middle education workers the enhanced programmable machines and trusted AI algorithms gaining extensive industrial productions and increase the concerns for job loss in labour market.McKinsey Global Institute estimate that AI will disrupt the society faster than 10% and may be upto the 300%

The industrial robots:

The industrial robot is defined as a machine which is of capable doing task efficiently, multipurpose, multitask and reprogrammable fixed at some location (International Federation of Robotics 2016) autonomous in nature and not require a human operator can be programmed to perform multiple tasks such as welding, painting, assembling, handling materials or packaging are classified as industrial robots.

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Figure 7.1 Robot density in China, EU and US. Source: Data from International Labor Organisation (2017), IFR (2016).

The excessive use of industrial robots in many developed nations significantly rising and we should keep in mind the AI is now dominating our intelligence of work in long run or short run these robots will vanish much of the low education work force.

Industrial robots are one of the AI technologies that forefront of the fourth industrial revolution connected with collaborative internet economy guarantees desired durable goods at exact time a step forward in increasing the efficiency gains of supply and demand.

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Digital Nomad

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