Redesigning The Labor Market With Artificial Intelligence

Abstract

The paper in this thesis examines the two-bladed impact of Artificial Intelligence (AI) on the global labor market, highlighting the opportunities and challenges brought about by it. AI is transforming business by simplifying operations, making processes more efficient, and driving innovation, contributing to greater productivity and new job roles in data science, machine learning, and AI ethics. On the other hand, AI poses massive challenges, including job losses, economic inequalities, and ethical concerns related to privacy and algorithmic bias. The rapid rate of AI integration requires workers to transform by new skills, and businesses and policymakers must come together to pursue good policies that address workforce reskilling, ethically using AI, and common prosperity. The article suggests a pragmatic approach to tapping the power of AI without bypassing the perils with proactive policymaking, corporate responsibility, and international cooperation to generate an equitable and resilient workforce.