AI-Powered Automation: Impacts on Workforce Dynamics and Economic Growth

Abstract

AI-powered automation is rapidly transforming workforce dynamics and economic growth by introducing advanced technologies that can perform tasks previously handled by humans. This shift is reshaping labor markets, potentially displacing some jobs while creating new opportunities in tech-driven sectors. The efficiency and productivity gains from automation are expected to drive economic growth, as businesses leverage AI to streamline operations and innovate. However, the transition also poses challenges, such as the need for deskilling workers and addressing potential disparities in job distribution. Overall, the impact of AI-powered automation is a double-edged sword, offering significant benefits while necessitating careful management of its effects on employment and economic equity.