AI-Driven Job Displacement and Economic Impacts: Ethics and Strategies for Implementation

Author(s): M. Ramarajan (Department of Management Studies, Erode Sengunthar Engineering College (Autonomous), Erode, India), A. Dinesh (Department of Communication, Siva Sivani Institute of Management, Hyderabad, India), Chitra Muthuraman (School of Entrepreneurship, Rishihood University, Sonipat, India), J. Rajini (Department of English, Kongu Engineering College, Erode, India), Taruna Anand (Department of Humanities and Social Sciences, Graphic Era University (Deemed), Dehradun, India)and B. Segar (Kaneruo Lakshmaiah Education Foundation, India)
Copyright: 2024
Pages: 23
EISBN13: 9798369373057

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Abstract

This chapter discusses the ethical implications of AI-driven technologies, particularly job displacement and economic impact. It emphasizes the need for transparency in AI algorithms and decision-making processes to foster trust and accountability. The paper also advocates for proactive measures like reskilling and upskilling programs to empower workers for future jobs and mitigate adverse effects on employment and economic stability. The paper emphasizes the significance of stakeholder engagement and inclusive decision-making in aligning AI deployment with societal values. It also discusses the role of government policies in preventing discrimination and promoting equal opportunities. The paper also highlights the need for ongoing monitoring and evaluation to assess the ethical implications of AI-driven job displacement. By prioritizing ethical principles, organizations can navigate AI's transformative potential while minimizing socio-economic impacts.

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AI-Driven Job Displacement and Economic Impacts: Ethics and Strategies for Implementation

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