Generative AI is a new invention of this decade that shows how everything can be changed and has redefined the ways we used to work. It’s through the use of different types of AI patterns and tools that companies are redefining job roles as it has revolutionized some of the core industries.
For example, a person who used to work at transcription in Australia or at another place then they can take the help of Gen AI to decode the meaning, and through that, one can make some promising work that will be more developed and nuanced for themselves.
However, Gen AI brings multiple opportunities and threats for people in the world of the workplace as it can compute things much faster. It raises concerns for human sustainability, and therefore, it’s important to do a cost-benefit analysis of Gen AI.
Understanding the Threats
The first aspect of Gen AI is that it can create job loss, and the notion of this has been there since the start of this century and is a major issue alongside the technological progress that is happening each year. Here, we will discuss the main three factors that need to be discussed and need to be talked about.
The Chance for Job Loss
As per the study of McKinsey Global, one can find that almost 10% of the jobs in the US economy in the near term can go to AI. The other study shows that there will be occupational migration where people with a specific skillset need to learn a separate one to get hired and stay relevant in the industry.
The Role of Bias and Discrimination
The next problem for an AI is that it has its intelligence, but it’s dependent on the core data it got fed, which is used to train the AI model. One of the problems with AI is that if the fed data is wrong, then the AI can discriminate and make wrong judgments. For example, if an AI is asked to show the face of a woman, it always shows a young woman with clear skin, while a man is allowed to have wrinkles. These minute details can make an AI model a biased tool to be trusted.
Terror of Deepfakes and Disinformations
Deepfakes are clear forms that can distort the face of the person and, therefore, can ruin the reputation of the person.
Opportunities Evolved from Gen AI
However, there are several opportunities the Gen AI can provide and one can take advantage of it.
Reducing the Workload and Increase in Productivity
The first prospect of Gen AI is that it helps the workforce to increase productivity and is beneficial for the staff to reduce their workload. For example, in professional transcription services, it is the AI that can help the transcriptionist find the meaning of acronyms in each field and elaborate on some key areas of the audio files.
Improvement in the Hiring Process
The next is the hiring process improvement, and a company can benefit from it by using a Gen AI tool to understand the proficiency of a person.
These are some of the threats and opportunities of AI one can take note of and prepare for their career.