Opinion | Why robots won’t be stealing your job or leaving you bankrupt

Artificial intelligence is not something to be feared, it’s the key to our future

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Robots from Shenzhen-based start-up Aelos Robotic perform with heightened dexterity at the Shanghai CES electronics show in early June. More than 50 companies showcased a new generation of robots – mostly to serve as companions in the home or butlers in shopping malls – at the show. Photo: AP

Published: 8:33pm, 1 Jul 2017Updated: 11:11pm, 1 Jul 2017

There are two growing concerns about artificial intelligence, or AI. One is that the application of AI will lead to mass unemployment, and the other concern is that the technology will lead to a serious deterioration in wealth distribution. In my view, both concerns are unnecessary.

The great majority of service jobs are nowhere near replaceable by technology. AlphaGo can beat the best human chess player, but a human hand is needed to place the “stones” on the Go board.

It will take at least three decades – or a whole generation – before robots can take over jobs such as house cleaning or airplane cabin service.

In a scenario where half of the current jobs are performed by AI by the year 2050, it could be expected that productivity and wages would have doubled, with the average annual income in the United States at a level of about US$100,000. People on higher incomes tend to spend more on education, health care and travel – and that in turn would generate additional demand for services which could create enough new jobs to absorb those that are replaced by AI.

Fong Ying, 85, follows the dance steps of a robot at the Gerontech and Innovation Expo in Hong Kong in June. Artificial intelligence empowers people but it will never replace them, according to the author. Photo: David Wong

Another fear is that greater use of AI will lead to worsening inequality because large companies can make bigger profits using AI and the improved efficiency it can bring.