In the past decades we have seen the advancement of technology. A topic whether AI( Artificial Intelligence) will replace human worker or not has discussed through out the time. However, as for now even though there are new technologies but we can see that Robots are not completely take over the world yet.
Still, there are many worker that lost their job because of the modern technologies. A report from the Marketwatch shows that “…roughly 36 million Americans hold jobs with “high exposure” to automation — meaning at least 70 percent of their tasks could soon be performed by machines using current technology. Among those most likely to be affected are cooks, waiters and others in food services; short-haul truck drivers; and clerical office workers.” Robot are invented to make people live in more convinient life however, the more convinient it is the more it’s impact human, especially, the low income and unskill worker.
In economic, most of the time when there is an improvement in technologies, basically, the Marginal product of labor(the increase in amount of output from an addition unit of labor) will increase which also increase the labor demand. Since there are new technology firm will need more worker to use those technologies. But in this case, the technologies is a type of “labor-saving”, so instead it decreases Marginal product of labor which make labor demand shift to the left.
In the contrary, if we look at another perspective even robots are the labor-saving type but it still can create more job for human through working at the robot factories and so on. As long as people is qualify and work hard then they still gain beneficial from the modern technologies. AI have a positive impact on the labor market, it leads to economic growth decrease price and also increase demand.
Now if we consider again whether AI will replace human worker or not, we can analyze that it won’t happen. Why? Even AI are more productive or effective than human but human is still the one who invented them. Furthermore, Robot doesn’t has the emotional intelligence, or the unique expertise. As long as the world can weight balance between Robots and human worker, then having both human and robots in work place will bring more accomplishment and achievement.
Young Economist 