Communications of the ACM
Humans Are Still Cheaper Than AI in Most Jobs, MIT Study Finds
The labor savings from automating some tasks would be far less than the cost of developing, deploying, and maintaining a computer vision system, researchers found.
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AI can't replace the majority of jobs right now in cost-effective ways, according to an MIT study that sought to address fears about AI replacing humans.
Researchers at MIT FutureTech found that only 23% of workers being paid for vision tasks could be effectively replaced by AI. 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 industries like retail and warehousing, and is also feasible in the health-care context, the paper says.
But only 3% of such tasks can be automated cost-effectively today. That could rise to 40% by 2030 if data costs fall and accuracy improves. "Our findings suggest that AI job displacement will be substantial, but also gradual," the researchers say.
From Bloomberg
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