THE FUTURE OF WORK: ECONOMIC IMPLICATIONS OF AUTOMATION AND AI

Abstract

The rapid advancement of automation and artificial intelligence (AI) technologies is profoundly reshaping the future of work, with significant economic implications. These technologies are driving efficiency, productivity, and innovation across industries but simultaneously introducing challenges related to workforce displacement, skill gaps, and inequality. The integration of AI into traditional and emerging sectors is redefining job roles, necessitating a shift toward human-AI collaboration. While automation streamlines routine tasks, AI empowers decision-making processes, enhancing organizational agility. However, this transformation raises concerns about equitable job creation, income distribution, and the need for reskilling and upskilling the workforce. Policymakers, businesses, and educational institutions must address these challenges to ensure a balanced and inclusive transition. This paper explores the multifaceted impacts of automation and AI on labor markets, highlighting potential opportunities, risks, and strategies to foster a sustainable and adaptable future of work.