Monday, April 03, 2017

Automation: Taking or Changing Jobs?

From the American Institute for Economic Research:

In March 2017, Treasury Secretary Steven Mnuchin made headlines by saying that the displacement of jobs by artificial intelligence was “not even on our radar screen … 50-100 more years” away.

This drew a host of shocked responses from those who point out that AI and automation have already eliminated millions of American jobs and may replace many more in the next 5 or 10 years, let alone 50–100. In fairness to the secretary, his comment responded directly to a question about artificial intelligence. In the broader discussion, he spoke about low-paying jobs being replaced by automation, which many of the critiques consider together with artificial intelligence.

The impact of automation is of unquestionable importance: One report released on the same day as Secretary Mnuchin’s comments suggested that 38 percent of U.S. jobs are at “high risk” of automation in the next 20 years.

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