AI might still be too expensive to fully replace human workers just yet, a new Massachusetts Institute of Technology study stated.
According to the study published on Jan. 18, human labor remains the "more economically-attractive" option for many companies in the industry.
At least 23% of jobs "exposed" to the AI vision would be considered as cost-effective for replacement, much lower than the predictions from the International Monetary Fund.
The IMF previously stated that at least 40% of the jobs worldwide are "exposed" to the AI future, 60% for first-world countries like the US.
The MIT study stated that it would "still take decades" for AI to become the viable option on other jobs even if the cost of development decreases by 20% each year.
The study, however, did not state what specific jobs are sure to be impacted by the AI vision.
Also Read: AI Revolution to Worsen Job Inequality, IMF Says
AI Anxiety: People Fears of AI Takeover Soon
Talks of AI replacing workers have rapidly grown over the past year as advancements in the technology continue.
Reports of layoffs and slow job growth in the IT industry only served to intensify the AI anxiety as more people fear losing their position to machines.
Leading AI figures have also touted the technology as the future of the economy, a promise that did not go well for many people.
It did not help ease worries after 4,700 CEOS across 105 countries agreed that job cuts caused by the AI revolution could jump up to 5% this year.
MIT noted the "societal acceptability of AI" as still the main factor in deciding how much the technology will indeed be implemented.
MIT's study expects the AI integration into the job market will be "more gradual than abrupt" contrary to people's fears.
Related Article: IT Jobs Suffer Slow Growth Amid AI Boom in 2023
The World's Future with AI
The industry's response to the growing reluctance towards AI was among the topics discussed during the recently closed World Economic Forum in Switzerland.
One of the main points raised is to move beyond the mentality that AI will solve everything as touted by many companies but rather a tool that will help human workers.
The WEF has previously called on regulating AI use and application due to the emerging risks posed by the technology.
