According to MIT, AI is not expected to replace human jobs as rapidly as some believe. Only 23% of wages for tasks related to vision can be economically automated using AI, according to researchers.
The data indicates that creating custom systems remains more expensive than using human labor for the majority of jobs. It would take many years for even inexpensive pre-trained models to fully replace human workers in low-wage, multi-task jobs. The speed of AI cost reductions and performance enhancements will heavily influence the level of disruption in job markets.
While the impact of AI on jobs is significant, acknowledging the constraints of automation rates might mitigate fears of extensive job displacement. Research shows that the transition in the job market could be more gradual than anticipated.
