AI will eliminate jobs, humans won’t be able to compete with intelligent computers

Many people worry that the number of jobs that will be lost in the future months (or maybe even weeks) will grow as generative AI tools like ChatGPT and Bard become more commonplace.

The CEOs of several internet companies have promised that users will need to adjust and that the most recent AI tools may be an enabler. Nithin Kamath, CEO of online investment platform Zerodha, claims that despite widespread layoffs, his organization would not “fire anyone” simply because they “implemented a new piece of technology that makes an earlier job redundant.”

The CEO of Zerodha, however, is still wary of technology and believes that governments all over the world would erect some barriers to prevent it from replacing all human occupations.

In a series of tweets, Kamath discussed AI in relation to Zerodha. He asserts that people are experiencing “AI/job loss anxiety” as a result of the increasing use of ChatGPT, Bing, and Bard. Although the CEO of Zerodha claims that AI won’t affect his employees, he expresses concern that emerging technologies “can disrupt society and take away jobs.”

He thinks that the current economic and capitalistic systems would quickly accept AI, which would increase inequality and reduce human agency. This is due to the fact that many large corporations are motivated by the opinions of shareholders rather than stakeholders (workers, customers, and vendors).

“Many businesses will probably fire workers and blame AI for it. Companies will increase their profits and increase shareholder wealth as a result, exacerbating wealth disparity. This isn’t what humanity wants to happen, he continues.

The CEO of Zerodha argues that governments should step in and implement AI rules and restrictions. Sam Altman, CEO of OpenAI, has made a comment along these lines numerous times. His company is in charge of ChatGPT development.