As I wrote in my previous blog, I am often approached by young people asking me if artificial intelligence will take jobs away from humans. It is a complex question, as the answer may be Yes and No.

Let us start with Yes. Undoubtedly, AI will help automate many tasks, especially repetitive ones. Automation may replace human workers in certain sectors such as manufacturing, transportation, customer service, etc. While some workers will find alternative employment, others, especially those who lack specialized skills, may struggle to transition into new roles, There may be a situation where the high-skilled workers with expertise attained through AI will enjoy an increased demand and higher wages, but for the low-skilled workers in industries susceptible to automation the reduced employment opportunities and lower wages will pose an issue for society. That is why we must start investing in retraining and reskilling programs.

Let's look from the other side since unemployment and underemployment are still persistent challenges to impoverished communities. We could use AI solutions to create jobs, develop skills, and train entrepreneurs, especially in areas that are not so well connected. We could use digital channels to offer facilities available only in urban areas until yesterday.

AI can play a pivotal role in reducing this gap by creating new job opportunities and enhancing skills. We could use AI-powered platforms to provide vocational training, equipping individuals with in-demand skills for emerging job markets. By tapping upskilling and reskilling programs, seeking training in emerging technologies, and picking up skills that are in demand, our young generation can get exposed to various emerging areas of employment. This route can help connect individuals with organizations that value their talents, regardless of socioeconomic background.

As for finding the right employment opportunities, AI-based algorithms can match job seekers with suitable opportunities, reducing the barriers to employment. AI-powered platforms can match job seekers with suitable positions, considering their skills, interests, and geographical location.

Even in areas where we use AI-enabled automation, there could be positive outcomes if optimized manufacturing processes and enhanced productivity creates new job prospects. After all, repetitive tasks are not the only activities where employment can be generated.

By fostering entrepreneurship, AI may empower individuals to start businesses and become self-reliant. As mentioned in my earlier blogs, we could exploit several initiatives for this. These initiatives will also address unemployment and pave the way for sustainable economic growth and poverty reduction.

Ultimately it is quite likely that by offering the underprivileged better employment prospects, AI may be instrumental in breaking this cycle of poverty and promoting economic growth.