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The Implications of Artificial Intelligence

The Organization for Economic Cooperation and Development (OECD) has pointed to significant concerns surrounding the current and future impacts of artificial intelligence, especially in terms of jobs. It emphasized that technology will affect almost all service sectors and professions.

The OECD considered that artificial intelligence will undoubtedly have notable repercussions on the job market, but so far, it primarily affects job quality more than employment rates.

In its “Employment Outlook 2023,” the organization highlighted the considerable doubts surrounding the current and future effects of artificial intelligence, particularly on jobs. It noted that technology will impact almost all service sectors and professions, and the pace of its development is unprecedented.

The organization stated that there is little evidence of significant negative consequences of artificial intelligence on employment, asserting that the “potential negative effects” may take time to appear, saying, “So far, published studies show that artificial intelligence primarily affects job quality.”

The study also mentioned that employees and employers have stated that artificial intelligence could reduce arduous and dangerous tasks, increase worker motivation, and enhance their physical safety. However, it is not without risks, and the study remarked, “Automating simple tasks through artificial intelligence seems to have sometimes led to a more sustainable work pace.”

The OECD considered that “social work and dialogue have a crucial role” in addressing the risks of artificial intelligence, especially through legislation or “encouraging employers to provide training” and also by “supporting workers and companies in transitioning to artificial intelligence.”

On the other hand, regarding labor markets, the study observed that since 2022, a strong recovery has been registered following the recession caused by the COVID pandemic, while inflation has reached unprecedented levels in many countries for decades. However, employment rates have remained stable, and unemployment has reached its lowest level in several decades.

Furthermore, real wages are declining in the majority of OECD countries, leading to a loss of purchasing power, which poses a problem for middle-income families.

-Ayman Al-Tamimi

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