Artificial Intelligence is not the tech that's far in the future. It is in your hands, now!
Smart devices have made our lives easier. Smart security systems, voice recognition apps, smart assistants, Google's predictive searches are all everyday examples of Artificial Intelligence at work. It learns from experience, solve problems, and makes decisions for us.
Is AI a bane or boon? The recent survey conducted by TechnoMetrica for Investor's Business Daily revealed the American public's sentiments on the topic of AI. While most welcome it, a significant section of the population is worried about the impact AI will have on their livelihoods and beyond.
As beneficiaries of the smart revolution, almost half are in favor of it.
- 48% of Americans believe that overall, AI is good for the economy and humanity
- Though only a small minority (16%) agree strongly with the above sentiment
- The young are ardent fans, with 60% of the 18-24 age group in favor of it
But, not all is rosy with this picture. Lack of transparency of input data and vulnerability to cyberattacks, among other issues, point to the shaky ground AI stands on. There are fundamental concerns regarding data privacy and security. In the hands of the unscrupulous, AI can do as much, or indeed more harm, than good.
People are well aware of the perils.
- 64% of Americans feel that the government should regulate AI use more strictly than it is doing at present
- 66% expressed concern about the increasing use of AI the world over
It is not just data security and ethics alone that is worrying most people. Though industry experts don't see AI as a job-killer, automation is likely to displace certain job sectors. As per a report in Forbes magazine, in 2019, according to Oxford Economics, 'up to 20 million manufacturing jobs worldwide will be lost to robots by 2030.'
Our numbers show that job loss related to AI is a pressing concern for many.
- 39% of survey respondents feared AI would likely replace their job
- 50% of those in the age group of18-24 and 53% of those in the 25-44 age bracket believed they would be made redundant
Given the current employment scenario, these numbers are worrying.
- 57% of those who participated in the survey belonged to 'job sensitive' households, meaning either one member is looking for employment or is concerned about a possible future job loss
- 43% of households have one or more persons already unemployed and seeking employment
- 38% expressed concern that they or a member of their household might be laid off in the next 12 months. 52% of urban households fell in this category.
On the flip side, experts say that AI is likely to generate a substantial number of jobs, just not in the conventional employment sectors. To benefit from the new opportunities, the workforce must engage in proactive learning, update core skills, and adapt to the work environment created by this relatively new technology.
About the survey
TechnoMetrica surveyed 1,261 adults from January 27 to January 29. The IBD/TIPP poll was conducted online using TechnoMetrica’s network of online panels to provide the sample.