AI Technology: Pros and Cons as Shared by Experts | Coinspeaker

AI Technology: Pros and Cons as Shared by Experts

UTC by Mayowa Adebajo · 3 min read
AI Technology: Pros and Cons as Shared by Experts
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Some tech giants such as Netflix, Meta, and Amazon may now be offering around $900,000 for workers to develop AI models.

Recently, many have had a thing or two to say about artificial intelligence (AI) technology whose immense benefits have been seen by all and sundry. However, it appears that the trending technology also comes with a fair share of risks. So, while economists and HR experts are optimistic about the future of the AI job market, an air of scepticism still surrounds its potential success.

In line with this, a CNBC report has detailed the leanings of some experts on the subject.

The Good and Ugly Side of AI Technology

For what it’s worth, the first notable introduction of AI to the public was ChatGPT some two years ago. That was on November 30, 2022. The news was immediately greeted with enthusiasm as workers contemplated how the technology was about to change their fortunes for good. With the effectiveness and productivity expected of OpenAI‘s chatbot, workers could not wait for the opportunities to begin unfolding.

As soon as the dust began to settle, however, some began to express anxiety over the safety of their day-to-day jobs. While these fears remain, experts believe that AI could end up creating more jobs than it eventually takes. According to the World Economic Forum, AI is projected to replace around 85 million jobs by 2025. However, it is also expected to create another 97 million roles over the same period.

This prediction is in line with the ongoing AI boom that has seen job postings that mention AI or generative AI on LinkedIn more than double worldwide. Similarly, AI-related gigs on the freelancing platform Upwork also surged by over 1000% in Q2 2023 compared to the previous year.

Additionally, some tech giants such as Netflix, Meta, and Amazon may now be offering around $900,000 for workers to develop AI models.

Expert Takes

Chief economist at ZipRecruiter Julia Pollak has weighed in on the AI matter. Pollak admits that AI-related recruitments are currently trending, but was quick to point out that companies are merely experimenting with it for now. She wrote:

“A lot of companies still don’t seem to know how best to harness these tools in their businesses and are still hiring people who can help them figure it out and decide if they should make a long-term investment in AI talent.”

Echoing Pollak’s argument is Trey Causey, head of responsible AI at Indeed. Causey believes that companies remain hesitant about plunging head-on into AI technology. He says everyone is cautious, while keenly observing their competition as to how they use it or if it serves them well.

Overall, it appears that many experts agree that AI jobs may not offer job security – its major downside. That is because it is yet evolving and not fully professionalized to have role bands, clear career paths and title progressions.

So, it might be advisable that people working in AI be prepared to switch jobs, and even industries.

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