Artificial Intelligence and Its Implications for Income Distribution and Unemployment
Artificial Intelligence and Its Implications for Income Distribution and Unemployment
When war occurs in the global community, it is likely that economic issues are something that people would rather not deal with. In recent years, especially since the pandemic and war, unemployment has been on the rise and continues rising as we approach 2022. Unemployment in March 2022 was recorded to be ~5.1%, a slight decrease from 5.2% the month prior.\Will artificial intelligence reduce unemployment, or increase it? This issue of interest is more relevant than ever before, as AI has been used in the workplace for a number of years. While the use of AI has often been limited to small set of tasks such as call centers or computer games, there are a growing number of cases where it’s replacing jobs based on capabilities rather than specific expertise.
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