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INTRODUCTION:
Christina Dimatati, Head of HR, Chubb
Will artificial intelligence (AI) prove to be more significant in the history of humanity than the discovery of fire and electricity? This question, posed by the CEO of a major multinational company, highlights the role AI will play in shaping our future.
Humans have survived and witnessed remarkable intellectual and technological progress, making us the only species to have achieved such feats. However, concerns arise as automation and robotics threaten to take over human professions. Is AI the silent murderer of human jobs?
HISTORICAL PRECEDENTS:
Throughout history, experts have expressed concerns about the disappearance of human professions and skills:
1. The Luddites: In the 19th century, weavers in England protested against new machines that threatened their livelihoods.
2. Visionary Writers: From Aldous Huxley to Isaac Asimov, writers and philosophers have explored a future society where technology replaces human work.
3. The Automation Anxiety Era: In the 1960s and 1970s, influential analysts like Jeremy Rifkin and Alvin Toffler warned about job losses due to technological advancements.
PARADOX OF AUTOMATION:
Interestingly, despite the introduction of automation, job positions have increased in many industries. For instance, the banking sector saw a doubling of job positions since the introduction of ATMs. This paradox challenges the narrative that automation will lead to widespread unemployment.
INDUSTRIAL REVOLUTIONS:
From the first industrial revolution to the present, inventions were designed to replace human labor and improve productivity. The second revolution brought automation and electrification, causing job losses during the transition from agrarian to industrial economies. Similarly, the advent of the tractor significantly reduced the need for manual agricultural labor. The humble tractor, which replaced human manual labor, may be responsible for the loss of more jobs than any other machine from the beginning of history to the present, as over 70% of people were engaged in agricultural production until then. And what’s paradoxical is that while it was 70% then, today it is 2% of people who are involved in agricultural production, and surely this is not because we eat less today
Why is the fourth and fifth industrial revolution different, and what are the challenges?
THE FIFTH INDUSTRIAL REVOLUTION:
We are now on the cusp of the fifth industrial revolution, characterized by :
1. rapid digitization,
2. automation, and
3. robotics.
While certain jobs will be replaced by Artificial Narrow Intelligence, the subsequent phase of Artificial General Intelligence will further impact white-collar jobs.
The loss and creation of jobs from robotics is a fact that cannot be denied: robots will inevitably replace human workers in repetitive, monotonous, and painful work environments. Often, these are job positions that companies already struggle to fill. A recent article in The Washington Post analyzes how a manufacturing company in Wisconsin used cobots for automation as they were struggling to fill 132 open job positions.
CHALLENGES AND THE HUMAN FOCUS:
Robots will undoubtedly replace humans in repetitive and monotonous tasks, but they also create new job opportunities. The key lies in focusing on the unique abilities and skills that define our humanity. The Industry 5.0 revolution aims to bring our attention back to human-centric work.
So, what is happening with this paradox? Why are positions ultimately not decreasing? What does this mean for the future of work, and what challenges does automation and robotics pose in the fifth industrial revolution?
The answer turns our attention in a different direction, one that is indeed different. The next wave of the industrial revolution, Industry 5.0, will focus our attention back on humanity.
CONCLUSION:
As the world undergoes another wave of industrial revolution, the future of work appears complex yet promising. We must embrace the paradox of automation while recognizing that human skills and adaptability remain indispensable. By understanding the challenges and harnessing the potential of technology, we can ensure a thriving future for both humans and AI in the workforce.
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