Artificial intelligence (AI) is not cost-effective for replacing the majority of jobs, according to a study by the Massachusetts Institute of Technology (MIT). The study modelled the cost attractiveness of automating various tasks in the US and found that only 23% of workers could be effectively supplanted. The researchers highlighted the significant upfront costs of AI systems as a barrier to automation. The study, funded by the MIT-IBM Watson AI Lab, also found that only 3% of visually-assisted tasks can be automated cost-effectively today, although this could rise to 40% by 2030. The researchers cautioned against the rapid rollout of AI and emphasised the need to carefully balance its potential with the negative impact on jobs.
