This Is Why AI Won’t Take Your Job Anytime Soon

By: Anneken Tappe · January 25, 2024 · Reading Time: 2 minutes

Financial Reality

Are you worried AI will take your job? You’re not alone in that.

And there are big names adding fuel to the fire: The International Monetary Fund expects 40% of jobs globally could be affected by AI. Goldman Sachs (GS) has meanwhile predicted AI could flat-out replace the equivalent of 300 million jobs.

For as much as people enjoy ChatGPT, these numbers sound scary. But a new study from the Massachusetts Institute of Technology shows AI probably isn’t coming for your job anytime soon — not because jobs can’t be automated, but because it simply doesn’t make financial sense to do so.

A Sigh of Relief

Of the jobs that could be replaced by AI, less than a quarter would be cost-effective to automate, according to MIT’s Computer Science and Artificial Intelligence Lab.

Today’s AI tools are powerful enough to take on human tasks like visual checks, but in many cases a human worker remains much cheaper given the cost to train and run a machine.

That’s right, at the end this is coming down to money, not ability. And presently, it makes no financial sense to replace us all with AI.

Similarly, AI use in manufacturing requires human supervision, changing but not eliminating the jobs needed for a functional factory floor. The research suggests AI will not upend the U.S. work landscape, at least not in the short term. Instead, companies are more likely to adapt to the technology gradually.

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