Artificial Intelligence Fuels Fear of Job Loss

The increasing use of artificial intelligence (AI) in the workplace has many people fearing for their jobs.

While the economy expects positive effects from AI, the population is much less optimistic. This is the result of a study by credit insurance company Allianz Trade, which surveyed more than 6,000 people in Europe – including around 1,170 from Austria. Accordingly, almost half of the respondents (46%) expressed concerns that AI will reduce the number of jobs available. Only a third assume that it will create more jobs.

Overall, more than a third (36%) of survey respondents expressed concern about potential risks from AI. Only 21% identified opportunities for change brought about by AI.

Worry about imbalance

More important than the scary effects on the workplace are concerns about increasing inequality. 51% of those surveyed expect that as AI becomes more widespread, learners will become increasingly smarter and the rest will be left behind.

Just under a fifth of respondents (21%) were optimistic about the benefits of AI for their economies, according to the study, which, in addition to Austria, also included people from Germany, Spain, Italy, Poland and France. (APA)