The Impact of Artificial Intelligence on the Labor Market

Abstract

In addition to industrial robots, machine learning, and generative artificial intelligence (AI), AI technology has advanced rapidly over the past ten years, infiltrating several industries, including manufacturing, services, finance, healthcare, and education. The rise in productivity has had a significant impact on the labor market. Through writing reviews and event studies, this post systematically examines the multiple effects of AI on general jobs, employment composition, and skill requirements, while recommending parliamentary and business strategies. According to studies, AI's impact on employment reveals complex characteristics of both movement and design. Low-skilled staff have the most serious issues, whilst the need for highly trained and multidisciplinary skills has dramatically increased. Instantly, local developmental disparities, inadequate retraining, and skill gaps have become significant issues that require immediate resolution. In order to accomplish an equitable transition and lasting expansion of the labor market in the framework of the AI boom, this study ultimately makes policy ideas at three levels: government, enterprise, and worker.