Braiant Mejia 

Kim Wozencraft

Composition-160

3/10/2024

AI Development: AI Development Will Improve Jobs

  Artificial intelligence (AI) advances have been tremendous within healthcare, education, and other fields. However, some worry that when AI develops and becomes more powerful, it may eventually replace human labor and force people out of business. To evaluate how AI can impact work and industry, it is critical to understand its advantages and disadvantages. The potential impact of artificial intelligence on the world in the next few years is becoming increasingly clear to us as we learn more about it. AI will benefit the financial industry and education by enhancing studies and research and opening up new positions for people looking to master AI.

Over the past several years, the internet has helped us become more advanced by improving our day-to-day lives. In the article “Robots at Work Where Do We Fit?” Alan S. Brown states, “Five years ago, Arthur coined the phrase “the second economy” to describe a system in which Internet-enabled computers execute business processes once handled by people. Twenty years ago, for example, when we wanted to travel, we called travel agents, who would ask where and when we wanted to go, query some proprietary databases (or even paper catalogs), talk us through our options, and book reservations.” ( Brown) The internet has made things more accessible and more manageable; for example, people can handle their money and bank information with the press of a button instead of having to get up and go to the bank; people do not have to worry about stores closing because they can shop online and have items delivered to them using the internet. These are a few examples of how the internet has made life easier. As AI improves, it can help in ways that are more than just behind the screen, like the internet, where people are limited to things like wifi strength and access to a computer or any device. AI opens the door to new possibilities.

With AI growing worldwide, it will likely open up new opportunities for people who choose to profit from AI itself. The article “Artificial Intelligence: Advancing the Workforce of the Future” by Steven R. Gonzales states, “Skills in AI are highly sought after and give students a competitive edge when entering the job market. According to Kimberly Doyle at Infosec Resources, which tracks trends in security education, cyber threats, and career development, more than 50,000 job openings are currently posted on Indeed for ‘artificial intelligence'” (Gonzales ). One of the businesses with the most significant growth is artificial intelligence (AI), which offers a wide range of career options in sectors like technology, healthcare, finance, gaming, and more. Students proficient in AI are in great demand and can work as data scientists, machine learning engineers, researchers, developers, ethicists, or researchers in AI. Learning AI gives students valuable skills, encourages creativity and critical thinking, and positions them for various jobs in the quickly changing technological sector.

AI has a place in finance because it makes prediction more accurate, decision-making speedier, and risk management better through sophisticated data analysis and algorithmic procedures, all of which increase the profitability and efficiency of financial operations. The article “The New Investor” by Tom C.W. Lin states, “Over the last quarter century, computerization and artificial intelligence have revolutionized finance, and they continue to fundamentally transform finance from an industry dominated by humans to one in which humans and machines share dominance.56 Modern Finance Cyborg Finance is the key player, part human, and part machine” (Lin). Computerization and artificial intelligence developments have transformed The banking industry over the last 25 years. Finance is no longer a human-only industry; it functions as a symbiotic environment where humans and machines play essential roles. Modern finance, also known as “Cyborg finance,” is where market players use machine-driven analysis and human judgment to make decisions, combining human experience with technological skills.

Some argue that artificial intelligence can be harmful and negatively impact society. Many AI will remove jobs and leave them without any source of income. The article “Can Artificial Intelligence Boost Employment in Service Industries?” by Gu Ting-Ting, et al. states, “although they could also be negative, such as resulting in employment polarization,” leading to income inequality. In addition, some studies claimed that the impact of AI on employment is heterogeneous, affected by the characteristics and attributes of time and space, industry, and the effects on different regions and industries are different; thus, the research often analyzes a particular sector and region” (Gu Ting-Ting, et al.). The text demonstrates how AI could have a negative effect. Even though AI has some possible complications, none of these problems will occur when appropriately used. Gu Ting-Ting et al. state, “Nevertheless, during the global COVID-19 pandemic, AI is rapidly applied to various service industry fields, such as the medical field, where doctors use AI to conduct contactless COVID-19 detection. In the catering industry, hotels use intelligent robots to provide non contact services such as reception and delivery. In education, schools use AI to execute online teaching. The government uses AI in public health to monitor and track various epidemic information. The broad AI application has directly affected the employment of the service industry” ( Gu Ting-Ting et al). Even though AI can have a downside, it can also have a revolutionary impact if used adequately.

In summary, the financial and educational sectors benefit significantly from incorporating AI. Artificial intelligence (AI) enhances research and study capacities, enabling experts to explore intricate financial models and pedagogical approaches more deeply, promoting creativity and effectiveness. Furthermore, AI’s ability to open up new career paths for people with AI skills benefits the workforce. It opens avenues for ongoing education and expertise in this quickly developing subject. Adopting AI has the potential to completely transform the way we think about finance and education and move us closer to a future of more opportunity, insight, and efficiency.

 

 

 

Works Cited:

Brown, Alan S. “Robots at Work Where Do We Fit?” Mechanical Engineering, vol. 138, no. 4, Apr. 2016, pp. 32–37. EBSCOhost, https://doi.org/10.1115/1.2016-Apr-1.

Gonzales, Steven R. “Artificial Intelligence: Advancing the Workforce of the Future.” Diverse: Issues in Higher Education, vol. 39, no. 8, July 2022, p. 28. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&db=a9h&AN=157758579&site=ehost-live.

Lin, Tom C. W. “The New Investor.” UCLA Law Review, vol. 60, no. 3, Feb. 2013, pp. 678–735. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&db=a9h&AN=85971878&site=ehost-live.

Ma Di. “Will AI Take Our Jobs?” China Today, vol. 72, no. 7, July 2023, pp. 48–49. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&db=a9h&AN=164425046&site=ehost-live.

Miele, Frank. “Human v. Artificial Intelligence.” Skeptic, vol. 29, no. 1, Jan. 2024, pp. 36–41. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&db=a9h&AN=175510879&site=ehost-live.

Ting-Ting Gu, et al. “Can Artificial Intelligence Boost Employment in Service Industries? Empirical Analysis Based on China.” Applied Artificial Intelligence, vol. 36, no. 1, Dec. 2022, pp. 1–18. EBSCOhost, https://doi.org/10.1080/08839514.2022.2080336.

 

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