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JSPES, Vol. 46, No. 3-4 (Fall-Winter 2021)
pp. 244-267

Is Artificial Intelligence Leading to a Jobless Future?

Gianluca P. M. Virgilio
Manuel Ernesto Paz López
Universidad Nacional de Tumbes, Tumbes, Peru

Continued advances in Artificial Intelligence are causing worries among white-collars and managers as recent innovations suggest that the future does not guarantee cognitive jobs will remain in human’s hands for long. New technologies are taking over more and more cognitive tasks that until recently were assumed to be immune from automation. For the first time in history humans are facing a challenge from entities that behave more ‘intelligently’ than they do. The classic Aggregate Demand/ Aggregate Supply function fails to explain the consequences of the heavy introduction of Artificial Intelligence into the manufacturing and service industries. This paper demonstrates how human employment is increasingly at risk in modern economic systems.