How AI and Robots Are Reshaping the workforce

Image: https://www.freemalaysiatoday.com/category/leisure/2024/05/16/this-humanoid-robot-could-be-yours-for-just-us16000/

When you think of robots, do you picture Sci-Fi movies or R2D2 from Star Wars? What if I told you these robots could soon take over your job? Across the country, warehouses are filling with humanoid robots—machines designed to resemble and interact like humans while performing similar tasks. Alongside artificial intelligence, this technology is projected to displace up to 300 million jobs globally by 2030.

By 2027, an estimated 23% of current jobs will undergo significant changes. “We should have humanoid robots in private homes helping with laundry, vacuuming, and dishes—at least in beta testing. By 2040, there could be as many as 10 billion robots across all sectors of the economy, with their labor costing as little as $10 a day,” says Peter Diamandis, an engineer, physician, and entrepreneur. He predicts that robots will soon integrate into industries ranging from healthcare to entertainment.

AI and robotics are reshaping the economy by increasing efficiency, driving innovation, and changing workforce demands. While the full impact remains uncertain, the timeline for these shifts is unpredictable. Currently, only 5% of U.S. businesses rely on AI for production, with its use concentrated in younger, larger companies. However, there’s a silver lining—technological advancements are expected to create 69 million new jobs in the coming years, according to the World Economic Forum.

The economic impact could go either way. Displaced workers may turn to government support programs, increasing mandatory spending, but if AI-driven productivity boosts economic earnings, it could offset these costs.

Companies like J.P. Morgan are already adapting. The firm recently introduced its AI platform, LLM Suite, with 200,000 employees having access to the tool—about half of whom use it actively. The platform, powered by generative AI from OpenAI and others, is utilized across various departments, from call centers answering customer inquiries to back-office operations.

While AI and robotics will undoubtedly disrupt industries, they also present new opportunities. The challenge lies in balancing innovation with workforce adaptation, ensuring that technological progress benefits society as a whole.

Sources:

https://www.cbo.gov/publication/61147#:~:text=How%20Might%20Artificial%20Intelligence%20Affect,might%20occur%20is%20very%20uncertain.

https://www.forbes.com/sites/johnkoetsier/2025/01/25/humanoid-robots-here-are-the-16-leading-manufacturers/

https://litslink.com/blog/how-many-jobs-will-ai-take-over-the-statistics#:~:text=300%20million%20jobs%20could%20be,by%20AI%20(Goldman%20Sachs).

https://www.wsj.com/tech/ai/jpmorgan-chase-artificial-intelligence-banking-939b1b32

https://en.wikipedia.org/wiki/Humanoid_robot#:~:text=Humanoid%20robots%2C%20which%20are%20designed%20to%20resemble,creating%20confusion%20about%20their%20rights%20or%20treatment.