Friday, December 10, 2021

The AI digitalization of employment and our future

The digitalization of all sectors of the global economy is on the way. As far as governments around the world invest on digital infrastructure and reskilling the workforce, artificial life is going to be inevitable. However, funding levels in terms of public or private investments are still very low.

   By 2030, products and services will be interconnected, and technology driven. Artificial intelligence (AI) and robotics will become the main core of most manufacturing processes and business models. At the same time though, despite the fact that AI is a game changer for the competitiveness, the European Union does not have a single AI ecosystem that can compare with Silicon Valley, Boston, Toronto, Tel Aviv, Seoul, Germany, Singapore, Malaysia, or China.

2021 AI index: Top 20 countries
Rank Country Indexed Score
1United States100.00
2Singapore67.22
3Switzerland67.14
4Netherlands66.20
5Japan64.22
6South Korea64.11
7Sweden64.05
8Finland63.09
9Germany62.82
10Ireland62.77
11United Kingdom62.05
12France59.33
13Israel57.58
14Denmark57.55
15Austria55.67
16Canada55.27
17Malaysia55.27
18Czech Republic53.32
19Australia50.92
20China50.82

Source: Global Data

   Furthermore, data analytics as a system is already essential for many data-driven products and services today, but much more effort must be associated with its development. Also, we must cope with AI overregulation which has great impact on innovation and the competitiveness of companies.

   Using AI to acquire biometric data, by analyzing fingerprints and typing cadence, or using voice and facial recognition, can be highly appropriate and beneficial for the individual as well as the general public, as European Union’s authorities stated. But how we can identify the level of privacy that can be still exist in the future?

   In fact, we cannot ensure that we will be alone in the future. In terms of technology, it is already everywhere on the streets, workplaces, and our home. It is impossible to live without technological applications, while it is impossible to use technology without the need to input of personal information.

   Hopefully, AI may replace some mundane, labor-intensive, or dangerous tasks, while it will create new, higher value-added employment. On the other hand, our income availability will become even more technology dependable, which means that we must cope with a robotic environment in which we are becoming less important for most of production systems.

Δρ. Κωνσταντίνος Μάντζαρης, Dr. Konstantinos Mantzaris, Economistmk

Published at     
Sign-up to Economistmk© Newsletter.

Bold font phrases are clickable links.
Thanks for reading! Have a Creative Day!
This post has no comments yet.

0 comments: