I work at ValueFirst Digital Media Private Ltd. I am a Product Marketer in the Surbo Team. Surbo is Chatbot Generator Platform owned by Value First. ...

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I work at ValueFirst Digital Media Private Ltd. I am a Product Marketer in the Surbo Team. Surbo is Chatbot Generator Platform owned by Value First.

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Swedish study talks up benefits of artificial intelligence

By satyamkapoor |Email | Mar 27, 2018 | 8577 Views

A study has been conducted by Sweden's prestigious Stockholm School of Economics (SSE), that tries to assess the likely impact of artificial intelligence, robotics and machine learning on the lives of people and it should calm people who are becoming nervous about the impact of these technologies.

The study concluded that the introduction of these technologies will be a gradual affair, and the long term potential impact for the society at large is job creation and not job losses. The study tells that the potential to automate non-routine tasks is going to be most likely limited. The major factor, SSE investigated was the long term impact of these upcoming technologies in the area of labor replacement.

A researcher from the group that conducted the study said that the technology advancement will not likely create mass unemployment. In fact, what we will see is a more intense collaboration between machines and humans and this will lead to change of focus of human labor. The study also assessed the influence of these technologies on the Swedish economy. They concluded that although change will take place in all major industries, but it will not lead to mass displacement of employees from their working roles or positions.

The Swedish government sees benefits in the ever-changing nature of jobs and the rise of technology driven workplaces. It is true that more routine tasks will be replaced by machines, but in future humans will work more closely with machines rather than be replaced by them.

The study identified certain sectors most likely to replace their human workers with machines such as manufacturing, high-steel retailing, wholesale trade and transportation. They also found that the major challenges to automation still remain unsolved. Computers may be better at fast-tracking tasks like information retrieval however they lack the sophistication of human creativity. Machines lack emotional and social capabilities. This gap may reduce in future with advances in technology. However, at the current rate of technological progress this gap could take 20 to 30 years to fill.

Ultimately, the SSE's report suggests a positive future for mankind where humans will collaborate with machines. It also points out the underlying benefits of implementing automation such as reduced payroll costs that will happen by replacing human labor

Source: HOB