Sunday, February 14, 2016

AI robots will put millions of jobs at risk

 Can the global economy adapt to greater than 50 percent unemployment?...

Advances in artificial intelligence (AI) will soon lead to robots that are capable of nearly everything humans do, threatening tens of millions of jobs in the coming 30 years, experts warned Saturday.
"We are approaching a time when machines will be able to outperform humans at almost any task," said Moshe Vardi, director of the Institute for Information Technology at Rice University in Texas.

"I believe that society needs to confront this question before it is upon us: If machines are capable of doing almost any work humans can do, what will humans do?" he asked at a panel discussion on artificial intelligence at the annual meeting of the American Association for the Advancement of Science.

Vardi said there will always be a need for human work, but robot replacements could drastically change the landscape, with no profession safe, and men and women equally affected.

"Can the global economy adapt to greater than 50 percent unemployment?" he asked.

Automation and robotization have already revolutionized industry over the last 40 years, raising productivity but cutting down on employment. Job creation in manufacturing reached its peak in the US in 1980 and has been on the decline ever since, accompanied by stagnating wages, said Vardi.

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