The cacophony surrounding AI, can very well amount to nothing but empty sounds. A new report claims that AI taking over employment and the world could work very much against it. Illustrious names like Stephen Hawking and Elon Musk have openly announced how AI will change the world and render a large portion of our working population redundant and ready to rebel.
This media could all, regress AI research, due to the negative press and the scare factor attached to its heralding arrival, bringing the entire technological machinery moving today at a complete halt. But this study states that the reality is far from what is being projected through news and reports.
Earlier estimates and predictions of AI have failed to produce anticipated results. In 2013, researchers estimated that, in the following ten to 20 years, 47% of jobs in the US could be automated. The last six years show an opposite trend. AI has created more aided job opportunities with the state of unemployment not enjoying the downtime so sharply predicted. AI is not even making advanced economies more productive. Evidence shows that even global superstar firms, including firms who are among the top investors in AI and whose business models depends on it such as Google, Facebook and Amazon, have not become more productive. This contradicts claims that AI will inevitably enhance productivity.
There may be 4 reasons, according to this report, that AI is not doing what everyone promised it will already be underway performing. First, AI innovation is becoming harder every day. The movement of AI through any country’s economy is not as rapid as been forecasted. Third, the slow growth of consumer demand in most Western countries makes it unprofitable for most businesses to invest in AI. Fourth, AI is essentially not really being developed for general application.
Due to the unwelcome panic, people are predicting a post-apocalyptic, AI future, like dreadfully exhibited through movies on machine age. This may have a negative effect on its research making it go through a lull period.