Have you stopped to imagine how AI will potentially affect the jobs market in the future?
Artificial intelligence could replace the equivalent of 300 million full-time jobs, a report by investment bank Goldman Sachs says. It could replace a quarter of work tasks in the US and Europe but may also mean new jobs and a productivity boom. And it could eventually increase the total annual value of goods and services produced globally by 7%. The report also predicts two-thirds of jobs in the U.S. and Europe “are exposed to some degree of AI automation,” and around a quarter of all jobs could be performed by AI entirely.
Researchers from the University of Pennsylvania and OpenAI found some educated white-collar workers earning up to $80,000 a year are the most likely to be affected by workforce automation.
Forbes also says that According to an MIT and Boston University report, AI will replace as many as two million manufacturing workers by 2025.
A study by the McKinsey Global Institute reports that by 2030, at least 14% of employees globally could need to change their careers due to digitization, robotics, and AI advancements
While some jobs may become obsolete, others will be transformed, and new job roles may emerge. PAY CLOSE ATTENTION IF YOU ARE CURRENTLY INVOLVED IN ANY OF THESE AREAS THAT ARE LIKELY TO BE AFFECTED BY AI:
Transportation and logistics: Autonomous vehicles, from self-driving cars to drones, will change the landscape of transportation and logistics, impacting jobs like truck drivers, taxi drivers, and delivery personnel.
Retail and customer service: AI-powered chatbots, virtual assistants, and automated systems will continue to improve, leading to a decline in demand for customer service representatives, cashiers, and sales associates.
Banking and finance: AI can analyse large amounts of financial data, detect fraud, and make investment decisions, which may lead to job disruptions in areas like loan processing, financial advisory, and risk management.
Healthcare: AI's ability to analyse medical images, diagnose diseases, and recommend treatments may impact jobs like radiologists, pathologists, nurses, and even some general practitioners. However, it is more likely to augment human expertise rather than replace it entirely.
Agriculture: AI-powered drones, robots, and precision agriculture tools will increase efficiency in farming and reduce the need for manual labor in tasks like planting, harvesting, and monitoring crops.
Human resources: AI can help automate resume screening, candidate assessments, and even conduct preliminary interviews, potentially reducing the demand for human recruiters.
Education: AI-powered adaptive learning platforms, virtual tutors, and grading systems can transform the education landscape, impacting roles like teachers, tutors, and administrators.
Journalism and content creation: AI-generated content for news articles, social media, and advertising may affect jobs in journalism, copywriting, and content creation.
Legal and law enforcement: AI can assist in tasks like legal document analysis, contract review, and case prediction, impacting jobs in the legal profession. It can also help with facial recognition and crime prediction, changing the landscape of law enforcement.
So there's no better time to pivot your skills and turn the threat to your advantage.
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