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Jack Ma Talks About the Role of AI on the Future of Labor Market


Nowadays, Jack Ma, the billionaire founder of Alibaba, who has always endorsed China’s working culture has talked about the future of work which will change thanks to artificial intelligence.

“In the future, people may end up working only three days a week, with only four hours of work per day” Ma said at the World Artificial Intelligence Conference in Shanghai on Thursday, according to Bloomberg News. Ma has mentioned that with AI, humanity would get more free time to take part in activities other than work.

“The power of electricity is that we make people more time so that you can go to karaoke or dancing party in the evening. I think because of artificial intelligence, people will have more time enjoying being human beings,” he said, Bloomberg reported.

Ma also mentioned that it is necessary for new generations to get prepared and educated about AI in order to make changes in the labor market. Performing changes in Education can ensure “our kids can find a job, a job that only requires three days a week, four hours a day.”If we don’t change the education system we are in, we will all be in trouble,” he said.

What is the problem?

The problem with reforming the education in order to move with technological shifts is job losses for workers who have been replaced by tech. Specially this makes the situation difficult for women without a college degree.

Decades ago, they could work as administrative assistants and other clerical workers. According to Bureau of Labor Statistics, the fallout in clerical jobs is ongoing, and there will be a 5% decline in these workers through 2026.

This means that there will be a loss of almost 200,000 jobs, which are mostly filled by women. Such workers are not satisfied of these changes as they will be replaced by software and due to this issue they would be shifted to lower-paying professions.

Almost half of jobs are at risk

AI and other forms of automation technology have threatened many markets and workers.

“Nearly 40 percent of current U.S. jobs are in occupational categories that could shrink between now and 2030,” McKinsey researchers wrote in a recent report on the U.S. economy. “No community will be immune from automation-related displacement.”

As a result, Workers need to grow their skills to prevent from getting sidelined. Without steady jobs, the poorest workers may face many problems.

Source Link: https://www.cbsnews.com/news/billionaire-jack-ma-booster-of-12-hour-days-now-says-ai-will-allow-12-hour-weeks/

About the author

Reza Mousavi

Reza Mousavi

Reza is a freelance journalist and content writer with experience in Digital Media and Public Relations. He has 6 years of experience working with media, communication agencies and companies of all sizes and fields. He has written contents for several websites and had published pieces.

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