International Research Journal of Education and Technology

Artificial intelligence (AI) and automation are transforming the economy and offer substantial benefits and risks for businesses across the globe. In this article, the authors have done a bit of literature review on the supposed influence of employment and wages via AI and sought to highlight issues concerning job disruption, job destruction, and new skills from the employed force and job market place brought about by AI. AI is revolutionizing industries including manufacturing, finance, healthcare, and retail, augmenting productivity and efficiency while displacing jobs for low and middle-skilled workers. We see labor markets becoming more and more polarized, with growing precarity for low-skilled workers and increased benefit for high-skilled workers. At the same time, the gig economy makes job security and benefits more challenging which strengthens the need for big and large-scale reskilling programs and education system reforms. This would be a positive step, helping society cope with the downsides AI will bring to the job market and working to ensure technological progression works for the betterment of humanity as a whole.

Keywords: Artificial Intelligence (AI) • Automation • Labor Market Disruption • Job Displacement • Workforce Reskilling • Industry Transformation