A VC Perspective – How Valid Is the Threat in the job market

We are living in an era of advanced technology that is changing the future rapidly. Who would have ever thought of a self-driving car or robot with human features, but here it coexists with humans.

Artificial intelligence is the technology that brought about this great revolution. Video games, personal assistants, smart cars, smartphones, chatbots, and many other uses can have a major impact on our lives.

With AI, digital computers can recognize the environment, perform tasks, and use the environment to perform actions that maximize the likelihood of success.

It not only provides our lives with results tailored to our needs, but also performs tasks using human characteristics such as inference, discovery of meaning, generalization, ability to learn from experience. By that, he is trying to replace human intelligence. It is attractive.

The influence of artificial intelligence

The scope of AI is a contentious topic as machines increasingly lead to suggestions of “whatever AI has not been done yet”. Speech recognition, strategic game systems, autonomous vehicles, military simulations, interpretation of complex data such as images and videos are all examples of AI effects.

Looking at the progress of the AI ​​so far, we have continued to discuss the impact of AI on our future and what it really means for humanity. Experts also discuss the impact of AI on the labor market and whether it should be welcomed or feared.

As a technology entrepreneur and investor, I hear and become part of many of these discussions and discussions about the benefits and risks of AI that affect our lives. Let’s take a closer look to see if they are really effective.

You may have heard of the theory that “The Rise of Robots” is thought to complete nearly half of the labor market in the world’s industry.

Experts say that if automation is not well planned and addressed in general, it can undoubtedly lead to disaster and affect 60% to 70% of current work.

They are either left behind or eliminated altogether.

According to a World Bank survey, automation is threatening 69% of the Indian labor market, while China is threatening 77%.

The concern that AI will replace endless tasks may be justified to some extent, but it is not completely true. I think it is not only the threat posed by AI, but also the creation of more work by incorporating technology.

Technology leaders are convinced that the emergence of new technologies such as artificial intelligence and automation will be a new driver of work. This era of digitization and automation creates new career options for IT professionals.

According to the report, “Changing Work Options through Automation,” the new job roles that dominate the IT job market are in the digital domain, such as big data, the Internet of Things (IoT), cloud computing, and cybersecurity.

These trends put work at risk, but the good news is that there are many new job opportunities in areas such as cybersecurity, cloud, big data, machine learning, and AI.

Clearly, it’s time to change careers to make sure IT professionals are on the ground. Other industries have begun to look from an optimistic point of view. AI and automation embrace the fact that increasing demand for products in the short term, generating more profits and paying higher wages can save significant costs.

The bottom line is

Remember that if automation doesn’t remove most jobs, other jobs will be created. We may not all be pessimistic about the changes that AI will bring, but we need to be prepared to recover from the short-term adjustments that the economy may face.

Of course, it is pre-defined that some jobs are outdated by AI, but it cannot be hidden from the overall picture of the potential benefits that AI brings, and those for work that overlook a new set of activities.

Re-educate the way of the economy. This technology will give new meaning to our business and life. I look forward to seeing how this technology will evolve in the coming years.

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