There are concerns in society and within corporates over the potential impact that AI solutions and technologies could have on employment rates, as these could replace manual labour. We want to put these concerns in context by pointing out that AI is just one technology out of many in the history of humanity that may cause major disruption when it is adopted.
Over the past 70 years, agriculture has seen its share of the US workforce fall from 25% to 4% primarily owing to technological advances, and yet the US economy is now at its lowest unemployment since 1969. This example shows that AI solutions and technologies might not have a detrimental effect on human employment after all. Find out in our latest Nordea On Your Mind report “AI – The dawn of the data age”.
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