The week's developments on automation & the workplace, explained | 30.08.24

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Why AI won't lead to a world without work

Worried AI is going to steal your job? Despite fears of widespread job losses, recent research suggests AI could actually enhance productivity and create new opportunities — though the transition may be bumpy.

 By the CogX R&I team

August 30, 2024 

Igor Omilaev/Unsplash

The rise of AI technology has sparked widespread anxiety about the future of work, with some already predicting it will make human labour obsolete. But a new report from the Boston Consulting Group argues that AI — much like previous tech revolutions — will likely create more jobs than it destroys.

A catalyst for economic growth?

• Deflationary Impact: AI's efficiency gains can lead to lower production costs, resulting in reduced prices for goods and services.

• Job Creation: Historically, technological advancements have often created new jobs and industries that offset initial automation-related losses. Experts anticipate that AI technology will follow a similar pattern.

• Productivity and Wealth: AI can significantly enhance productivity across various industries, leading to increased economic output and reshaping how we work.

  
  

Not quite a job apocalypse: While AI will undoubtedly cause disruptions in specific sectors, economists argue that predictions of mass technological unemployment have repeatedly proven false. A perfect example is the US economy, which added 120 million jobs over the past year, despite all the relentless technological progress.

But AI is not like most other technologies: While an AI-driven world won't be without work, it will certainly ‘work’ differently, say the authors of the research. The challenge lies, according to the experts, in managing the "microeconomic pain" of these big economic transformations, rather than preparing for an unlikely future that might never come.

Now read the rest of the CogX Newsletter

Top Stories

🤖 Yes, AI burnout is already happening at work: Overwhelmed by the pressure to upskill and adapt to new AI tools, workers are increasingly feeling stressed and anxious. To prevent this, companies must introduce AI gradually, communicate openly with employees, and prioritise their well-being, experts say.

🙅🏻‍♀️ The science of saying no: Four researchers embarked on a year-long experiment to learn the art of saying ‘no’ at work. They discovered that tracking your work, rejecting it firmly, and setting boundaries can make it easier to decline requests without regret.

AI Tutorial

How to plan the perfect vacation using Gemini AI

• Access Google's Gemini AI and make sure you have enabled the Flights and Hotel extensions found on the settings page.

• Start by telling Gemini your specific trip details and hotel preferences

• Ask Gemini to find and compare flights within your budget

• Book flights through the provided Google Flights links

• Finally, plan your itinerary using Gemini's Maps extension

AI & Automation

🤖 What makes work meaningful in the age of AI? While the answer to this question might very well be dependent on who you ask, there's no denying that many jobs today are perceived as “pointless”. Now, recent advancements in AI are poised to automate millions of these so-called "bullsh*t jobs" — but is this a cause for celebration or concern?

👨🏻‍💻 Struggling to generate enough leads? Salesforce's new AI agents are here to help. The Einstein SDR Agent and Einstein Sales Coach Agent can automate lead qualification, provide real-time coaching, and help you close deals faster than ever.

🤔 NVIDIA employees reportedly work until 2 AM? Working long hours consistently is a recipe for burnout. At NVIDIA, however, this seems to be the norm. Employees often find themselves at their desks until the hours of the morning, but can't leave because the AI chipmaker uses "golden handcuffs" and lavish pay to keep them on the grind.

🤖 The world’s call centre capital is gripped by AI fear: As AI chatbots and digital assistants rapidly transform call centres, the struggles of 1.7 million Filipino workers could offer a stark preview of the challenges facing office staff worldwide

Productivity Boosters

Check out this week's top AI tools to supercharge your productivity

	Grug Notes is a minimalist, AI-enhanced text-based note-taking app that simplifies information organisation and retrieval.   Key Features: Minimalist text-based interface AI-powered note organisation Semantic search capabilities
	Mokkup.ai is a cloud-based wireframing tool that simplifies the creation of high-fidelity dashboard mockups for data visualisation and presentation.   Key Features: Cloud-based dashboard wireframing tool 100+ pre-designed dashboard templates Customizable design elements
	Legaliser is an AI-powered legal assistant that streamlines contract management with intelligent summaries and compliance checks.   Key Features: AI-driven contract summaries Automated compliance assessment Targeted suggestions for contract improvement

In case you missed it

Senior AI prompt engineer Jacob Rangel reflects on how AI stole his job - and why he thinks that was a good thing:

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