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Is AI Taking Over the Economy?

Tue, 25 April, 2023

The recent launch of applications like ChatGPT has triggered quite a lot of turbulence among many and especially those working in the creative sectors, like writers, painters and artists.

Back in 2019, a report by the World Economic Forum had found that AI and automation could displace 75 million jobs by 2022 but, at the same time, it would be creating 133 million new jobs. The report also found that the jobs most at risk of automation were those that involved routine tasks such as data entry, administrative support, and manufacturing. Now, nearly half way through 2023, we are already in fear that the creative sectors are also at risk. But is this fear valid?

Overall, while AI and automation can provide many benefits and efficiencies, they cannot replicate the unique skills and abilities that humans bring to the table. It is important to recognise the strengths and limitations of both humans and machines, and work towards developing a collaborative relationship between the two. This is the work that the Up-Skill project aims to deliver. Professor of Innovation Management in the Mälardalen University of Sweden Chris Ivory gives some insights on this triggering topic in a video that was recently released by the project consortium:

To find out more about this exciting project, please visit the dedicated website HERE and follow our LinkedIn channel HERE.

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