Answer is Yes and No.
All of us have been seeing many articles recently about the coming armageddon of job losses. Some have even predicted that almost 75-80% of all jobs will go away. Time for us to take step back and use our “natural intelligence” before falling for this chicken-little syndrome.
I was introduced to the fascinating world of AI by my professor MGV in my engineering days in 1990! By then, he had done his Phd in AI 🙂
So, just remember. AI is not new by any stretch of imagination. It’s been in the works for last 35-40 years.
Will it change the world? Yes for sure.
Will it kill all the jobs? No for sure.
Here is what will happen like all technology waves.
1/3 of the smarter people will find really exciting careers in next wave of technologies, be it in programming, digital-manufacturing, bio-engineering and so.
1/3 of the average skilled people will lose their high paying jobs and move to lower paying jobs. The salary cuts will be like 30%-50%. The transition for these people will happen but its tough.
The bottom 1/3 people (what I mean is people who refuse to learn, take additional courses in new areas, update their skills on a daily/weekly/monthly and annual basis AND people who are lazy to upgrade their knowledge), will have the toughest period. The brutal wave of job losses will hit this crowd. Remember in early 19th century US had half a million women telephone operators in AT&T alone!!
This has happened in various old-age industries…will continue again in ALL industries. The only difference this time, tsunami will start in our own IT industry.
Question is which group do you belong. The smart, the average or the dinosaur?
Jack Welch had told this ::“Change before you have to”