Humans Still Cheaper Than AI in Vast Majority of Jobs, MIT Finds

AI can't replace the majority of jobs right now in cost-effective ways, the Massachusetts Institute of Technology found in a study that sought to address fears about AI replacing humans in a swath of industries. From a report: In one of the first in-depth probes of the viability of AI displacing labor, researchers modeled the cost attractiveness of automating various tasks in the US, concentrating on jobs where computer vision was employed -- for instance, teachers and property appraisers. They found only 23% of workers, measured in terms of dollar wages, could be effectively supplanted. In other cases, because AI-assisted visual recognition is expensive to install and operate, humans did the job more economically. [...] The cost-benefit ratio of computer vision is most favorable in segments like retail, transportation and warehousing, all areas where Walmart and Amazon are prominent. It's also feasible in the health-care context, MIT's paper said. A more aggressive AI rollout, especially via AI-as-a-service subscription offerings, could scale up other uses and make them more viable, the authors said.

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