Artificial intelligence (AI) has become an increasingly important aspect of modern technology, enabling machines to perform tasks that were once thought to be performed only by humans. However, this development raises an important question: How will AI affect the workplace?
It's only natural that workers fear job loss and displacement due to technological advancement. Undoubtedly, highly repetitive tasks that rely on specific instructions are more susceptible to being replaced by machines. On the other hand, tasks that require adaptability and flexibility are more difficult for technology to handle. Jobs that rely on interpersonal skills, such as the work of a customer service representative, are also largely off-limits to AI.
It's also worth remembering that massive shifts have occurred before, such as with the proliferation of computers or advanced machinery in factories. These changes have made some jobs obsolete, but the creation of new jobs resulting from the ability to create and deliver new types of goods and services has far outpaced the number of jobs displaced.
It is also important to note that AI technology and the corresponding products based on it are still limited in some respects. While AI can synthesize existing knowledge with a specific goal in mind, it is still far from human-like intelligence. The ability to create knowledge from scratch or based on empirical evidence is currently beyond its reach.
Inventions such as the steam engine made life easier for people and were a major reason for the increase in prosperity at the time. They were also initially viewed with great skepticism.
To successfully integrate AI into today's working world, companies must create framework conditions for the responsible and controlled use of AI technology. Especially in the financial services sector, accuracy and precision are required and must be carefully considered in any AI deployment.
For the foreseeable future, the maxim is that humans should harness the machine instead of fearing it.
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