Introduction Artificial Intelligence (AI) is revolutionizing the economy and transformation of labour markets. Being the powerful technology, AI enables automation of not only routine tasks but cognitive work too, affecting employment processes across virtually all industries. Hence, this research paper aims to examine two-sided effects of the use of AI in business practices – both benefits and risks related to it. Drawing on the secondary sources, including scholarly journals and international reports on global development, this paper analyzes trends and changes related to employment patterns in industries due to automation and the rise of artificial intelligence technology. It is revealed that AI is capable of replacing labour as well as generating new forms of employment, requiring sophisticated knowledge, advanced digital skills, and other competencies at an unprecedented level. Moreover, this paper underlines the heterogeneous impact of AI on skill level, geography, and other aspects of employment as well as identifies groups which may suffer from adverse consequences.In turn, the paper considers measures that can be used to help individuals adjust to working in an environment where the role of AI increases significantly. These include government-led efforts to educate workers, initiatives to provide training developed by private organizations, as well as restructuring of education. The focus is made on the importance of smart responses to the process to make sure that it brings benefits to everyone. In summary, this paper argues that effects of artificial intelligence on labour markets are not predetermined and depend on societal reaction to them.
Kumar et al. (Thu,) studied this question.