Market disruption will continue to accelerate as AI spreads and its possibilities and impacts are better understood and employed. Already, with what AI can do, there are troubled times and growing pains to come as life and work are disrupted. The disruption will impact many people. How will the economy change and involve? It is too soon to tell but the possibilities could be frightening.
Today,
- IBM announced that it will replace 7,800 jogs with AI over time and will pause hiring in certain positions.
- Chegg shares dipped by half due to losing market share to ChatGPT. Chegg helps students write and do homework.
We are at the beginning of the turmoil
Jobs will be replaced.
Jobs will be created for those savvy enough to leverage and guide AI to do the tasks that needed done, these are NEW jobs. AI will make people and companies more efficient. Companies will need to infuse AI into their business and process models, and they will need help.
Job losses will accelerate in specific categories. Just one example is writing, editing or creating content in many forms. AI can do that, already, very good with text and increasing capabilities in audio and video. What happens with half of writers and editors lose their jobs?
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