A new report by the Executive Office of the President, released on December 20, 2016, addresses the potential future benefits and challenges of Artificial Intelligence (AI).
While lauding AI technology for opening up progress in many areas including healthcare, education, and energy, and pointing to its potential for wealth creation, the report raised some concerns about effects on some jobs. It stated,
AI-driven automation will continue to create wealth and expand the American economy in the coming years, but, while many will benefit, that growth will not be costless and will be accompanied by changes in the skills that workers need to succeed in the economy, and structural changes in the economy. Aggressive policy action will be needed to help Americans who aredisadvantaged by these changes and to ensure that the enormous benefits of AI and automation are developed by and available to all.
According to the report, AI will continue the effects on the labor market of computerization and innovations in communications. Estimates of the scale of jobs that may be threatened over the next 10 to 20 years vary widely, from 9 to 47 percent.
The report stated that higher wages for many workers will be a likely outcome – along with more leisure hours due to the increased productivity afforded by AI technology. It also outlined three strategies for policy responses to the promise of AI: 1. Invest and develop in AI for its benefits. 2. Educate and train Americans for the jobs of the future. 3. Aid and empower workers for the technological transition in order to ensure growth.
Read the whole 55-page report here.