What is the impact of the development of applications and information systems based on artificial intelligence technology on labor markets in specific industries and sectors of the economy?

Since the release of an intelligent chatbot built on the ChatGPT language model on the Internet in November 2021, the scale of ongoing discussions on the topic of the impact of the development of artificial intelligence technology on labor markets has increased again. Each successive technological revolution has largely generated changes in labor markets. The increase in the scale of automation of manufacturing processes carried out as part of business operations was motivated by the reduction of operational personnel costs resulting from hired personnel. Automation of manufacturing processes, including processes of production and offering services, may also have reduced the level of personnel operational risk. As a result, companies, firms and, in recent years, financial institutions and public entities, through the implementation of ICT, Internet and Industry 4.0/5.0 technologies in various business processes, are improving the efficiency of business processes and increasing the economic profitability of these processes. In each of the previous four technological revolutions, in spite of changing technical solutions and emerging new technologies, analogous processes of using these new technological advances to increase the scale of automation of economic processes worked. In the era of the current fourth or fifth technological revolution, in which a special role is played by the development of generative artificial intelligence technology, applications of this technology in the development of robotics, building autonomous robots, increasing the scale of cooperation between humans and highly intelligent androids is also making a new appearance and another stage of increasing the scale of automation of manufacturing processes. However, what from the point of view of entrepreneurs thanks to the applied new technologies, the achieved automation of production processes is an increase in the efficiency of manufacturing processes, increasing the scale of economic profitability, etc., is, on the other hand, generating serious effects on labor markets, including, among other things, a reduction in employment in certain jobs. The largest scale of applied automation of economic processes and, at the same time, the largest scale of employment reduction was and is generated for those jobs that are characterized by a high level of repetition of certain activities. The activities carried out by employees that are characterized by a high level of repetitiveness were usually the first ones that could be and have been replaced by technology in a relatively simple way. this is also the case today in the era of the fifth technological revolution, in which highly advanced intelligent information systems and autonomous androids equipped with generative artificial intelligence technologies contribute to the reduction of employment in companies and enterprises where humans are replaced by such technology. A particular manifestation of these trends are the group layoffs announced starting in 2022 of employees, including IT specialists in technology companies that the aforementioned advanced technologies of Industry 4.0/5.0 are also creating, developing and implementing into their economic processes carried out in the aforementioned technology companies. Recently, there have been a lot of different kinds of predictive analysis results in the media suggesting which occupations and professions previously performed by people are most at risk of increasing unemployment in the future due to the development of business applications of generative artificial intelligence technologies. In the first months of ChatGPT's release, the Internet was dominated by a number of publications suggesting that a significant portion of jobs in many industries will be replaced by AI technology over the next few decades. Then, after another few months of the development of applications of intelligent chatbots, but also the revelation of many controversies and risks associated with it such as the development of cybercrime and disinformation on the Internet, this dominant opinion began to change in the direction of slightly less pessimistic. these less pessimistic opinions suggest that the technology of generative artificial intelligence does not necessarily deprive the majority of employees in companies and enterprises of their jobs only the majority of employees will be forced to use these new tools, applications, information systems equipped with AI technology as part of their work. Besides, the scale of the impact of new technologies on labor markets will probably not be the same across industries and sectors of the economy.

I described the key issues of opportunities and threats to the development of artificial intelligence technology in my article below:

OPPORTUNITIES AND THREATS TO THE DEVELOPMENT OF ARTIFICIAL INTELLIGENCE APPLICATIONS AND THE NEED FOR NORMATIVE REGULATION OF THIS DEVELOPMENT

Article OPPORTUNITIES AND THREATS TO THE DEVELOPMENT OF ARTIFICIAL I...

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What is the impact of the development of applications and information systems based on artificial intelligence technology on labor markets in specific industries and sectors of the economy?

What is the impact of the development of applications of artificial intelligence technology on labor markets in specific industries and sectors of the economy?

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best regards,

Dariusz Prokopowicz

The above text is entirely my own work written by me on the basis of my research.

In writing this text, I did not use other sources or automatic text generation systems.

Copyright by Dariusz Prokopowicz