Study Finds AI Unlikely to Replace Most Jobs Over Next Decades Due to Higher Costs Than Human Workers
• MIT study looked at if AI was cost-effective for 1,000 visually assisted tasks across 800 occupations
• Found only 23% of worker wages could be cost-effectively replaced by AI computer vision
• Upfront costs of installing & maintaining AI systems often higher than human labor
• Example In bakery, AI quality control is 6% of work - more expensive than human inspector
• Researchers Fears of AI taking jobs are overblown; will take decades before financially efficient even with dropping tech costs