Advances in Economics, Management and Political Sciences
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Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
Series Vol. 57 , 05 January 2024
Open
Access | Article
Analysis of the Effect of Artificial Intelligence on the Labor Market in the United States
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Abstract
Artificial intelligence(AI) is facing rapid development, which presents both opportunities and risks. The Unities States, the world’s largest economy and a leading technological power, has witnessed significant advancements in AI. As an integral part of automated production, AI drives economic productivity, but it alters the demands and structure of the United States labor market. Increasing joblessness and a decrease in the number of people actively participating in the workforce imply that AI holds the capability to substitute human employment, thereby highlighting the importance of individuals adapting to changing labor demands. Research indicates that individuals with lower educational attainment and limited cultural proficiency face a greater likelihood of being replaced by artificial intelligence (AI). However, the evolving labor market demands a greater emphasis on AI-related skills. The potential of AI to foster the development of the United States labor market is evident, as it holds the capacity to drive further innovation and growth in the American economy. This research paper takes IBM, who officially announced the use of AI as a replacement for human labor, as a case study to examine the influence of AI on the labor market in the United States., exploring the opportunities and risks brought by AI development.
Keywords
artificial intelligence, labor market, unemployment
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
- ISBN (Print)
- 978-1-83558-205-3
- ISBN (Online)
- 978-1-83558-206-0
- Published Date
- 05 January 2024
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/57/20230538
- Copyright
- 05 January 2024
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited