AI Will Create Jobs, Lots of Jobs
Technology revolutions have always created more high quality jobs.
Not less.
I believe the same will hold true in the AI revolution.
I’m confident of this because of how jobs are created.
Don’t believe me?
Let’s look together:
How Jobs are Created
Jobs are created by a demand for goods and services.
It doesn’t matter if you’re an entrepreneur or an employee….
Whether you work in the private, public, or non-profit sector…
Your job exists to satisfy demand for goods and/or services.
How more jobs are created
Demand for goods and services is not fixed.
As we earn money by satisfying the demand for goods and services, we generally:
- Purchase more products and services (create additional demand).
Or
- Invest our earnings to help produce more products and services.
In a market based economy this additional demand and investment creates more jobs.
Which creates additional demand for products and services, and investment.
Which creates more jobs.
Which creates additional demand and investment.
Which creates more jobs.
Which creates additional demand and investment.
Which creates more jobs.
Which creates…..…you got it….over and over again.
How Technology Creates More Jobs, Not Less
Look at the beautiful job creation flywheel drawing above.
Technology is a fuel that allows us to spin that flywheel…faster and faster.
As long as we don’t get in the way of it.
And we’re living proof of this.
Prior to the Industrial Revolution, most people worked in agriculture and related fields.
Feeding everyone took the majority of human labor.
Then, technology allowed 1 person with a tractor to do the work of dozens without a tractor.
This wasn’t a bad thing….
It was a great thing.
All the people who were previously needed to meet the demand for food, were now free to produce new products and services.
And produce them we did.
Can you imagine explaining to a farmer in the 1700’s how an x-ray machine works
Or what a cable repair technician does for a living?
This is someone who had never seen a lightbulb.
They’d think you were nuts.
How The AI Revolution Will Be Different
The Industrial Revolution primarily replaced humans doing manual labor.
AI will also replace humans doing cognitive work.
Because most knowledge work is digital, this transition will happen more quickly.
How The AI Revolution Will be the Same
Like all technological revolutions before it, AI will create more and better jobs.
This will remain true even if most of today’s jobs are replaced by AI.
Just like it was when most of yesteryear’s jobs were replaced during the Industrial Revolution.
What will the new jobs be?
Likely ones that are uniquely human.
I’d say more….but I don’t want people to think I’m nuts.
Thanks for reading.
Dave
