"Has any of this led to the predicted dystopia? Consider this: in 1991, the global unemployment rate was 5.1%. After three decades of technological revolution and exponential AI growth, the global unemployment rate in 2024 was 4.89%. If you believed only the headlines that followed every technological breakthrough of the past 35 years, you'd assume half the world would be unemployed by now."
"The labor market is being driven in this direction by four powerful forces. ● AI automation: Almost 60% of firms (nearly 85% of large firms) implemented automation over the last 12 months. ● Economic pressures: For companies to stay competitive, they are looking for efficiency in every aspect of their operation. The use of AI is the surest and fastest way to achieve measurable increases in efficiency."
An estimated 92 million jobs may be eliminated due to AI by 2030, while about 170 million new roles are projected, yielding a net gain of 78 million jobs. Disruption and displacement are inevitable, but historical trends show major technological revolutions did not produce sustained mass unemployment; global unemployment moved from 5.1% in 1991 to 4.89% in 2024. AI adoption is accelerating unevenly across sectors, driven by AI automation, economic pressures for efficiency, and green transitions. Nearly 60% of firms, and about 85% of large firms, implemented automation in the last 12 months.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]