Technological developments have been the center of focus when it comes to the future trend of jobs and the global economy. As technology advances, there is a high likelihood of an increased automation rate of systems and processes, which means that human labor is on the verge of being replaced and considered irrelevant. Other prominent concerns in this area include cybersecurity risks and, thus, implications for government and social security systems. Investors aim to cut costs and ensure that their profit-making goals are met, which means that they will be more likely to lean towards optimal production and the employment of AI. Given that the technology is efficient and reliable, there will be a possible higher unemployment rate. At the same time, the rich will have a chance of making more money and thus profits, thus widening the gap between the rich and the poor. Cybersecurity vulnerabilities will also be another significant issue, particularly considering that there might be hacking of systems and thus access to vital organizational or clients’ data. There will also be a potential strain on government and social security systems, and this challenge must be addressed through strategic technological planning. The fears of AI’s impact on jobs and the economy are reduced employment rate, cybersecurity vulnerabilities, and the potential adverse effects on government and social security systems; addressing these challenges will be crucial to benefiting from the technology while mitigating its adverse effects.
Job Displacement Concerns
Various industries can be impacted differently by introducing AI systems into their operations. For instance, if the management opts for automation of systems in the industrial and manufacturing sectors, installing it will be expensive. Still, in the long run, such a decision will become economical as the level of efficiency due to machine automation and the use of Siri and robocalls will be high, and the companies will not be incurring costs associated with employee management. The unemployment rate will be increased, which means that the government’s ability to address significant issues such as job security and unemployment or poverty levels will be compromised. Even so, those who become technologically savvy will have a chance to take new positions in various sectors, as the automated systems need to be programmed and continually checked to ensure they are running optimally (Wilkinson & Barry, 2020). AI will render some people unemployed while also creating jobs that can be taken by those willing to move with the current trend. A similar approach will have to impact the education sector, as it will be necessary to produce graduates tailored to meet the technology-based jobs, and this applies to the need for a higher level of innovativeness and creativity. When graduates can meet the market demand for the available technology-based jobs, it becomes possible for them to focus on better decision-making initiatives and affirm their influence in the employment industry.
Cybersecurity Risks
AI systems have been associated with higher efficiency and make managers avoid addressing human errors (Ansari et al., 2022). However, some key challenges can impact organizational performance and risk some enterprises from lawsuits due to data breaches. Among the primary issues is the possibility of malicious use and hacking of AI technologies. If the system is hacked, the company can fail to meet its maturing obligations, and in some cases, firms can be closed for making massive losses (Tao et al., 2021). A notable example is a medical facility that has automated its systems. In such a case, a hacking incident or a data breach can render the whole system ineffective, which means that the medical staff cannot access the needed information for clinical decision-making. Thus, the quality of care will be compromised.
Impact on Government and Social Security Systems
The government will have to feel the impact of AI, particularly in terms of revenue generation, in various ways. The increased unemployment rate will initially imply losing revenue associated with taxable employment. In the long run, it will benefit from an increment in taxable corporate profits. However, the critical problem for this initiative is having to spend more on providing social services to address the challenges that the poor face (Henman, 2020). Due to the changing economic landscape, the government will be compelled to change its policies to address the challenges that the poor face and how to stimulate employment. Once these measures are implemented, it will be possible to address the adverse effects of AI, particularly assuming that they are predictable.
Conclusion
The invention of AI has some advantages and critical issues that need to be addressed, but it is necessary to note that the technology is disruptive to the current systems. For instance, it will likely shake the job market as job seekers will be compelled to become technologically savvy. As more organizations and individuals, including the government, continue to depend on AI, they must be aware of the potential cybersecurity challenges they can face. Also, the potential issue of unemployment will compel the government to consider critical social policy programs that can increase the safety net for the citizens. There is a need for continued research and collaboration to address emerging challenges in the AI era.
References
Ansari, M. F., Dash, B., Sharma, P., & Yathiraju, N. (2022). The Impact and Limitations of Artificial Intelligence in Cybersecurity: A Literature Review. IJARCCE, 11(9). https://doi.org/10.17148/ijarcce.2022.11912
Henman, P. (2020). Improving public services using artificial intelligence: possibilities, pitfalls, governance. Asia Pacific Journal of Public Administration, 42(4), 1–13. https://doi.org/10.1080/23276665.2020.1816188
Tao, F., Akhtar, M., & Jiayuan, Z. (2021). The future of Artificial Intelligence in Cybersecurity: A Comprehensive Survey. EAI Endorsed Transactions on Creative Technologies, 8(28), 170285. https://doi.org/10.4108/eai.7-7-2021.170285
Wilkinson, A., & Barry, M. P. (2020). Future of work and employment. Cheltenham, UK Edward Elgar Publishing.
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