Artificial Intelligence (AI) will create half a million more jobs than it eliminates according to analyst Gartner.
By 2020, AI bots and other smart technologies will replace 1.8 million jobs. Yet the opportunities around AI will also require a significant injection of resource, creating an additional 2.3 million jobs.
2020 will be a pivotal year, marking the tipping point when job loses caused by AI will be surpassed by job creation. This is because while it will reduce the need for unskilled human labour, AI will create more ways to deliver business transformation.
“Many significant innovations in the past have been associated with a transition period of temporary job loss, followed by recovery, then business transformation and AI will likely follow this route,” said Svetlana Sicular, research vice president at Gartner. Sventlana explains that while AI will help remove reliance on low and mid-level positions, it will create more opportunities for highly skilled positions and a new raft of entry-level jobs.
While sectors such as manufacturing will be hardest hit and see the most job loses, other areas such as healthcare and the public sector will require more people as a result of AI.
Svetlana says that AI is being portrayed as a massive threat to labour markets in part because it is not fully understood. ”Unfortunately, most calamitous warnings of job losses confuse AI with automation — that overshadows the greatest AI benefit — AI augmentation — a combination of human and artificial intelligence, where both complement each other.”