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Friday, June 21, 2024

AI is already taking jobs, with companies likely to replace workers

Key Takeaways:

  • A survey conducted by ResumeBuilder.com in February 2023 revealed that one in four companies in the United States had already replaced employees with ChatGPT.
  • Studies suggest that AI will lead to job displacement in certain sectors, with roles such as bank tellers, cashiers, clerks, secretaries, and accounting professionals being the most at risk.
  • The World Economic Forum’s Future of Jobs Report 2023 estimates a net decrease of 14 million jobs across 45 economies but also predicts the creation of 69 million new jobs.

Advancement of AI

In recent years, the advancement of artificial intelligence has created excitement and concern about its potential impact on jobs.

The International Monetary Fund (IMF) predicts that nearly 40 percent of global employment is exposed to AI, with advanced economies facing greater risks and opportunities compared to emerging markets and developing economies. In advanced economies, approximately 60 percent of jobs may be impacted by AI, with half of these jobs potentially benefiting from AI integration through enhanced productivity, while the other half may experience reduced labor demand, lower wages, and even job displacement.

The impact of AI on specific industries and job roles is also becoming increasingly apparent. A survey conducted by ResumeBuilder.com in February 2023 revealed that one in four companies in the United States had already replaced employees with ChatGPT. The survey found that 49 percent of companies were using ChatGPT for various tasks, including writing code (66 percent), creating content (58 percent), providing customer support (57 percent), and summarizing meetings or documents (52 percent).

The World Economic Forum’s Future of Jobs Report 2023 estimates that across 45 economies, covering 673 million workers, 69 million new jobs are expected to be created, while 83 million jobs may be eliminated, resulting in a net decrease of 14 million jobs, or 2 percent of current employment. The jobs most at risk of being replaced by AI include bank tellers, cashiers, clerks, secretaries, and accounting professionals.

AI Isn’t the end of work

However, it is important to recognize that AI is not just a job-displacing force. The technology also has the potential to create new opportunities and enhance productivity in various sectors. The Future of Jobs Report 2023 shows that the green transition and increasing consumer awareness of sustainability issues will generate new roles, such as renewable energy engineers, solar energy installation and systems engineers, sustainability specialists, and environmental protection professionals. These roles are expected to grow by approximately one million jobs in the coming years.

The report identifies education and agriculture as significant areas of job growth, driven by demographics and the application of new technologies.

Many jobs are expected to be impacted by AI. Here’s a compiled list of all of them:

Jobs expected to be impacted by AI:

  1. Bank tellers
  2. Cashiers
  3. Clerks
  4. Secretaries
  5. Accounting professionals
  6. Data entry clerks
  7. Customer service representatives
  8. Telemarketers
  9. Proofreaders and editors
  10. Translators
  11. Bookkeepers
  12. Paralegal and legal assistants
  13. Retail salespersons
  14. Taxi and ride-hailing drivers
  15. Warehouse workers

Jobs expected to grow:

  1. Renewable energy engineers
  2. Solar energy installation and systems engineers
  3. Sustainability specialists
  4. Environmental protection professionals
  5. Data scientists and analysts
  6. AI and machine learning specialists
  7. Robotics engineers
  8. Cybersecurity experts
  9. Digital marketing specialists
  10. Software developers
  11. Cloud computing professionals
  12. Healthcare professionals (e.g., nurses, physicians, and medical technicians)
  13. Mental health professionals
  14. Educators and trainers (especially in STEM fields)
  15. Green construction and retrofitting specialists
  16. Agricultural technologists
  17. Supply chain and logistics experts
  18. Social media managers
  19. Virtual and augmented reality developers
  20. Blockchain developers

Employers also have an important role to play in the AI-driven future of work. By investing in reskilling programs, companies can help their employees adapt to the changing job market.

Continuous learning and the ability to work alongside AI systems will be essential for success in the job market. Online learning platforms and rapid certification programs can provide accessible and equitable opportunities for workers to acquire the necessary skills.

Publisher and editor of LJLNews. I am a Stock Market enthusiast, with an interest for politics. I hope you enjoy reading the articles! Contact me at: Lazaruslucas@ljlnews.com

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