Is The Artificial Intelligence Revolution Good or Bad?

Everyone is aware that the artificial intelligence revolution is right around the corner if it hasn’t already begun. Many workers see this as a sign of the death of many industries and there are enough experts that have muddied the waters with their own fears to make people believe that the artificial intelligence revolution will replace humanity. Believers in AI are true believers, while opponents tend to be staunch opponents. For those of us in the middle, who are just trying to make it by, we might not be paying that much attention to it. However, the AI revolution is on the way for many industries. We must ask as small business owners and entrepreneurs, is the artificial intelligence revolution a good or a bad thing? HJR Global did a dive into this topic to see if we really should be worried about the singularity and the rise of the machines.

Increasing Efficiency

AI is incredibly convenient for a lot of business owners corporations, which is why things tend to move toward an automated future. The artificial intelligence revolution is being adopted by those that see the efficiency benefits. Machines and internet protocols do not sleep, do not get tired, do not call in when they want to start their vacations early and most importantly, they don’t collect a wage. This is a huge red flag for workers and worker advocates because this threatens to make human workers more expensive and a less attractive option for employers. Yet, we have seen automation of work take over within the last 50 years without the massive industry disruption that people feared. The implementation of the Automatic Teller Machine or ATM by most major banks was a feared arrival of new tech that many bankers saw as a coming crisis. However, these machines have made more room for real problems to get solved and more connection with banking customers, while allowing customers who just need a quick withdrawal or deposit to do so without holding up the line. The artificial intelligence revolution will only serve to make many occupations more efficient, acting more as an augmentation for human workers, rather than a replacement.

Created Jobs In New Industries

The artificial intelligence revolution was once thought of as years and years away, but recent innovation has put the implementation of AI right at the edge of our doorstep. However, most businesses are not equipped to handle the jump to AI tech yet. There is still a large gap of understanding, which leaves a lot of room for new job creation, both in the implementation and training side, as well as maintenance. Research and development is needed on AI technologies and where they can best be implemented. Finally, production and manufacturing of these pieces of tech will create jobs in new fields, allowing workers to bring their expertise to the table to improve AI tech.

Emotional Intelligence

For workers that fear the artificial intelligence revolution, there is one thing to remember before allowing the anxiety to overcome: AI cannot feel or make decisions based upon emotion. This is a competitive advantage for human workers. AI is amazing for making the mundane, monotonous or inefficient tasks much more effective, but in matters where rationale and decision making based on emotional intelligence must be used, AI technology is nowhere as effective as a human. In fact, AI teach is more likely to make a devastating mistake based off of calculation rates rather than emotions. Workers will want to lean hard on what they can bring to the table emotionally to stay ahead of the artificial intelligence revolution.

Silver Lining

Automation may pose problems for millions of workers. Researchers predict that about 3-5% of workers may suffer displacement due to automation, but others predict that more than 36 million workers could be at least directly affected by AI. These numbers sound alarming, but many researchers also predict that AI will actually increase wages. Workers will need training to maintain the expansion during the artificial intelligence revolution. Those that are willing to recognize the turning tide of the future can cash in as workers. Furthermore, small business owners and entrepreneurs that are innovative may be able to ride the AI wave a little easier than massive companies. Implementing AI at the beginning of your journey could give you a competitive edge and you might find larger companies chasing your model, which will mean you’re doing something right.

At HJR Global, we want to see you succeed. We want to see small businesses adapt to these oncoming changes and make a lot of money at the forefront of the artificial intelligence revolution. We’re here to offer everything from simple advice to full scale planning and implementation with your team. Contact us today and let us help you get ahead of this coming AI boom.