The aim was to address anxieties about AI and provide a comprehensive analysis of the feasibility of automating tasks using computer vision.
Key Findings
The study revealed that only 23% of worker compensation exposed to AI computer vision would be cost-effective for firms to automate.
This limitation is attributed to the substantial upfront costs associated with implementing AI systems. Even with a rapid annual decrease in AI development costs by 20%, the researchers argue that it would still take decades for computer vision tasks to become economically efficient for firms.
Global Perspectives on AI
International Monetary Fund chief Kristalina Georgieva has warned in a recent blog post that approximately 40% of global employment has AI exposure. And up to 60% of jobs in advanced economies are at risk.
While acknowledging the potential for AI to exacerbate existing inequalities, she emphasizes the urgent need for policymakers to act swiftly to mitigate these effects.
Labor Market Dynamics
Contrary to the perception of a sudden upheaval, the MIT researchers anticipate a more gradual impact of AI on the labor market.
