AI and the Future of Jobs
AI and Job Markets
Most pressing for the general population is what impact, if any, AI will have to them personally. As this book has shown in different areas, applications of AI are geared towards improving the overall quality of life of humans. This means more time-saving measures and more efficient operations from task automation. However, the automation of tasks will also cause considerable changes in the job market.
For example, in the transportation industry, with the improvements in vehicles' ability to navigate road networks, human drivers are set to suffer job losses. The same situation can be found in the call center job market. As chatbots and other related technologies continue to improve and offer dynamic interactions with customers, human customer care representatives may soon find jobs difficult to come by. Changes will happen in the jobmarket. But how should these changes be viewed? The previous industrial revolutions help provide context as we know that while job losses resulted from automation, many more jobs were created.
Therefore, the more ideal way to look at the changes that will happen in the job market is to view it as a transition rather than elimination. It is estimated that within the next decade, there will be a shortage of at least 250,000 data scientists.
It is unlikely that AI will take over entire industries or even occupations. However, there are aspects of an occupation that may be automated. Data from McKinsey states that 60% of current jobs have up to 30% of their tasks automatable. Overall, the expectation is that 1/3 of the current jobs will be displaced by AI over the next decade.
The World Economic Forum projects that even though 75 million jobs will be displaced, an estimated 133 million new jobs will also be created.
Affected individuals would need to upskill to equip themselves to be better able to interact with the adopted AI solutions. People in the labor force will also need to keep track of changes within their industries to be prepared to take advantage of the jobs that will be created.
What Jobs AI Will Replace
The result of automation will be job losses in professions where most tasks are automated. Some of the people whose jobs are under the most threat include:
2. Book-keeping clerks
6. Financial analysts
7. Customer service assistants
8. Manual laborers
9. Retail salespeople
11. Market research analysts
12. Computer support specialists
14. Benefits managers
16. Construction workers
17. Security guards
20. Data entry clerks
What Jobs AI Won’t Replace
Some jobs are more likely than others to survive the automation of tasks that AI is set to cause. Some of them include:
1. Creative jobs (e.g., novelists, poets)
2. Strategy jobs (e.g., diplomats)
3. Empathetic jobs (e.g., teachers, psychiatrist/psychologist)
4. “Unknown jobs” (e.g., new jobs that will be created by AI)
The Most In-Demand Future Jobs
In the ever-evolving world of work, these jobs are set to be the most in-demand:
1. Machine learning developers
2. Data scientist
3. Data engineers
4. Machine learning engineers
5. Virtual reality architects
6. Data brokers
7. AI human collaboration specialists
8. Registered nurses and care givers
9. Applications software developers
10. General and operations managers
11. Financial managers
12. Management analysts
13. Physicians and surgeons
14. Marketing specialists
15. Computer and information systems managers
16. Elementary school teachers
17. Postsecondary health specialties teachers
18. Physical therapists