AI Series- Part II: The AI Revolution; Transforming Industries and Reshaping the Workforce

Artificial intelligence (AI) is a rapidly evolving field that has the potential to revolutionize many industries. One of the areas where AI is making a significant impact is in robotics. With the integration of AI and robotics, we are seeing more advanced machines capable of performing complex tasks. For example, Boston Dynamics has designed two popular AI robots, Atlas and Spot. Atlas can jog, jump, run, somersault, and even backflip while Spot is a commercial quadrupedal robot that automates inspection, sensing, and data collection in a variety of settings.

Computer vision is another subfield of AI that is helping machines to better understand the visual world. This technology has a wide range of applications, from facial recognition to autonomous vehicles. For example, Tesla cars track their surroundings with cameras to enable their advanced driver assistance system and autopilot.

Expert systems are another application of AI designed to mimic the decision-making abilities of a human expert. These systems are used to solve complex problems in domains such as medicine, finance, and engineering. For example, MYCIN was one of the earliest backward chaining expert systems that was designed to find the bacteria causing infections like bacteraemia and meningitis.

ChatGPT is an AI language model developed by OpenAI that uses deep learning to generate human-like text. It can be used for a variety of tasks such as answering questions or generating creative content.  Think of the average citizen always having a personal assistant by their side to immediately answer all their questions about any possible subject–health symptoms, agriculture, an exercise plan, a business plan, a review of your CV, creating a cover letter, ai does it all.

While there are many touted benefits of artificial intelligence, there are also concerns about the impact that AI may have on society. One such concern is a caution that the advancement of AI may lead to massive job displacement and raises ethical concerns such as potential bias or unfair decision-making. According to a report by Goldman Sachs economists, around 300 million jobs could be affected by generative AI globally. In the United States and Europe alone, approximately two-thirds of current jobs “are exposed to some degree of AI automation,” and up to a quarter of all work could be done by AI completely.

It should however be noted that while AI has the potential to automate many jobs, it is also poised to create new jobs and opportunities. According to a report by PwC, AI will lead to an estimated $15.7 trillion increase in global GDP by 2030. According to aibusiness.com, some 42 percent of the $15.7 trillion that PwC claims AI can pump into the global economy is expected to be generated by automated machinery in the workplace. And it is therefore likely that many of these jobs will be replaced as a result of the implementation of AI.  PwC, however, forecasts that far more jobs will then be created and while some jobs may be automated, new jobs will be created as a result of the larger and wealthier economy made possible by AI.

For example, AI will create jobs in areas such as AI research and development, data analysis, and the creation of new AI-powered products and services. Additionally, AI can also create jobs in industries that support the development and deployment of AI technology, such as IT infrastructure and support.  Furthermore, AI will also help to reskill and upskill workers for the jobs of the future. By embedding learning into everyday activities and matching employees with opportunities for training and development, AI will help to prepare workers for new roles in a changing job market.

Developing countries with small populations, such as Guyana, can greatly benefit from the advantages of automation and easy access to information provided by AI. This technology has the potential to level the playing field for those who lack access to education and opportunities. AI can revolutionize many aspects of life in Guyana, including infrastructure, healthcare, agriculture, and education. By providing insights into complex data and making accurate predictions, AI can also help Guyana make better decisions. If the country embraces this transformative technology, it will be well-positioned to create a brighter and more prosperous future for its citizens. The potential of AI is vast and the future looks bright for Guyana.