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Last Updated on July 22, 2024 by Dhanvanthri
–>Last Updated on July 22, 2024
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My story
Is AI an existential threat to human jobs? This is a larger question…but I can speak for myself…. Using AI, We built a text classification and extraction system called IEA – Intelligent Email Advisory for big clients like Mondelez(dairy milk, oreo), Verizon, etc. That would, as name suggests, helps in reading the client emails, especially emails about accout recievables with invoice pdf attachment. This resulted in huge productivity gain, like reducing 25 full-time employees to 10. We literally took their jobs.
ChatGPT enters the game and totally disrupts the market. By 2022, LLMs like ChatGPT establish themselves as leaders in the text-analytics market. So, in 2022, this AI, specifially LLMs, took my job.
Disruption in the market
With ChatBots, we see it is already disrupting the customer service space across sectors. But, counterintuitively, it is also taking over white collor jobs based on creativity like graphic designer, copy writer etc.
Political problem
It is going to be a political problem leading to unemployment and underemployment with economy being more and more gig economy and ofcourse, it will only create more inequality because simple AI might be cheap but LLMs are not. They spend millions of dollars to train one AI. Whether we stregthen our welfare system by taxing the rich or taxing the AI productivity or going with other option – UBI supportd by Elon Musk, Zuckerberg. I think either of these will end being the solution.
If UBI is only namesake and can’t cover the cost of living, it is of no good. I think that is what ruling class wants. You can see that Gruha Laxmi is UBI, but other 4 guarantees on the lines of welfare schemes. But, I think stregthening the welfare system is the solution – healthcare, education, infrastructure, vocational training, and public housing, whether it is through PPP or full funded by Govt.
