Artificial intelligence is currently too costly to replace human jobs, study finds

Research claims that only 23% of worker wages can be cost-effectively replaced by artificial intelligence.

Artificial intelligence (AI) probably won’t replace your job just yet. A new study from the Massachusetts Institute of Technology (MIT) finds that the cost of replacing human workers with artificial intelligence may still be high for businesses. The study explores the practicality of replacing human labor with artificial intelligence in jobs in the United States that use computer vision, a type of artificial intelligence that derives information from images and videos. They found that most of the time, it was cheaper for companies to continue using human workers to complete certain tasks than using artificial intelligence.

“Our research into automating computer vision systems with artificial intelligence does lead to some encouraging news about job replacement, which suggests that many The tasks will not become economically attractive for automation for years or even decades,” the laboratory (CSAIL) told CNBC Success.

according to study, only 23% of worker wages can be cost-effectively replaced by artificial intelligence. The researchers say that in some cases, human workers are still more economical because AI-assisted visual recognition technology is expensive to install and operate. They also predict that even if costs fall by 20% annually, it will still take decades for computer vision tasks to bring financial efficiencies to companies.

“We found that due to the high upfront cost of AI systems, only 23% of employee compensation ‘exposure’ to AI computer vision would be cost-effective for businesses to automate,” the study said.

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The MIT researchers noted that previous predictions and studies were significantly vague about the timeline and extent of automation “because they did not directly consider the technical feasibility or economic feasibility of AI systems, but instead used similarity measures. Because the mission and AI capabilities indicate the level of exposure.”

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However, they also say AI could disrupt the job market—both now and in the future. “Even in the short term, there will be workers who will lose their jobs or have their responsibilities changed because of AI,” said Neil Thompson. CNBC did it.

Thompson said it could become cheaper to develop AI systems in the future, potentially speeding up the rate at which companies choose to use them. However, he said it could take many years before those costs come down to a level where companies can widely deploy these AI systems.

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