A recent study from researchers at the Massachusetts Institute of Technology (MIT) suggests that concerns about AI replacing human workers in the near future are premature, as humans are still more cost-effective, cheaper and lower-paid. The study, “Beyond AI Exposure,” funded by the MIT-IBM Watson AI Lab, examines the practical implementation of AI in various industries, particularly in tasks requiring computer vision (sensing and analyzing) skills. Even with a significant 50% annual decrease in AI costs, the study estimates that it would not be until 2026 that AI could begin to economically replace human workers in vision tasks.
Furthermore, AI’s reliance on statistical and symbolic reasoning, compared to the broader range of human intelligence, means that it would take “decades” for AI to become economically viable in replacing human workers in computer vision tasks. While AI automation could significantly benefit sectors such as banking, marketing, healthcare, legal, retail, and transportation, AI likely will have only a small impact on most other sectors, which is somewhat reassuring for the future of human jobs. This suggests that we can expect several more decades of job security before AI has a substantial impact, potentially ending human job employment.
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