75% of companies are looking to adopt AI software in the next 5 years. And it does not discriminate. From shipping logistics, to marketing and medicine, AI is projected to rattle the whole world.
With this comes serious concerns about job displacement. Unfortunately, it is inevitable that AI has the potential to replace the work of many millions of people. However, it is not all doom and gloom. Although the majority of jobs are thought to be in some way impacted by AI utilization by 2030, there are some comforting predictions and safety nets you should be aware about.
In this article, we will discuss:
- The rise of AI in the workplace
- The top 10 AI replace jobs statistics
- The overall impact of AI on the job market
- Which industries are projected to change the most
- Careers at risk from AI
- Jobs AI cannot do (yet)
- Careers created by AI
- AI and the economy
- How businesses are betting on AI
- What people think about their jobs and AI
- The future of work in the age of AI
Let’s get into it
The Rise of AI in the Workplace
AI has taken the world by storm. It is arguably one of the most influential developments of the 21st century. Whilst artificial intelligence and machine learning have been around for decades, it has taken off in the past couple of years, and is quickly being introduced in many workforces around the world.
AI is already present in various industries- and is beginning to be applied to many mechanical tasks that do not involve critical thinking, empathy or complex problem-solving. Common uses of AI include pattern recognition and machine learning. What this means is that jobs such as fraud detection, chatbots and advertisements are becoming reliant, and replaced by AI software.
AI is rapidly changing the nature of human work. With pattern recognition, and automated systems becoming increasingly reliant on AI software, these jobs are being lost. However, we are still reliant on people for problem-solving, empathetic approaches and creative outputs.
Whilst AI has been, and will continue to, shift the workforce balance, it also provides opportunities to people. The nature of people’s work is likely to shift from monotonous tasks, to fostering problem-solving skills, creative output and jobs that are focused on emotional intelligence, rather than completion of repetitive tasks are on the rise.
Top 10 AI Replacing Jobs Statistic (Editor’s Picks)
- According to a survey of finance chiefs, more than half (61%) of large US firms plan to use AI within the next year to automate tasks previously done by employees
- By 2030, AI is predicted to be worth US$ 1,811,747.3 million
- 69% of CEOs anticipate that generative AI will require most of their workforce to develop new skills, according to PwC’s 2024 Global CEO Survey
- 50% of current work is technically automatable using technology we have now
- 83% of companies reported that using AI in their business strategies is a top priority
- 52% of employed respondents are worried AI will replace their jobs.
- 77% of companies are either using or exploring the use of AI.
- 77% are concerned that AI will cause job loss in the next year
- Healthcare and automotive industries are expected to see the most impact from AI use
- Larger enterprise companies are 2x more likely to use AI than smaller businesses
The Big Picture: Overall Impact
It is no secret that AI has had a huge impact on the job market, and is projected to continue rising.
However, it’s not all doom and gloom.
The job market will undeniably shift. Some roles will become 100% dependent on AI, resulting in significant job displacement.
However, with new technology comes new opportunities. Many job opportunities are actually projected to be created, thanks to AI.
The majority of companies are exploring, or are already utilizing AI to help automate tasks, reduce overhead costs and make their companies run more efficiently.
Because of AI, there will likely be a shift away from humans completing more automated tasks to ones that require higher level problem-solving, emotional intelligence and creativity that AI cannot complete.
It is thought that around 300 million full-time jobs will be fully automated by 2030 globally. However, jobs in technology, education and other sectors are predicted to grow substantially due to AI deployment.
According to the World Economic Forum 75 million jobs will be displaced. However, 133 million new roles will be created in their place.
Which Industries Will AI Change the Most?
AI has, and is predicted to continue to impact virtually all industries.
Your bank account will likely be, if it is not already, monitored by an AI powered fraud detection software. And if you message a page and ask for a refund, it is likely an AI powered Chatbot is answering. And to top it off, in the future, your medication will likely have been discovered by AI software that runs through almost every known chemical in its database to find biological benefits in the human body.
Whilst all are predicted to be impacted, some industries are likely to change more than others. Manufacturing, finance and customer service roles are predicted to see the most change by 2030, with mass use of AI systems, for example.
Notably, it is predicted that larger enterprises will be most influenced by the rise of AI software, compared to smaller businesses.
Careers at Risk from AI
Some roles, most of which involve repetitive tasks, are more at risk of being replaced, or in need of significant modification due to AI.
Roles most at risk of full automation include:
- Secretarial roles
- Bank tellers
- Data entry clerks
- Customer service representatives
- Cashiers
- Telemarketers
- Market research analyst
- Ticket clerks
- Payroll clerks
It is important to note that whilst these roles may become more scarce due to AI automation, the shifting roles will create other opportunities within the sector that involve less routine work.
Jobs AI Can’t (Yet) Do
Although AI is a great tool that is being used to streamline repetitive tasks, there are numerous jobs that AI cannot do.
Jobs that require a ‘human touch’ such as soft skills, advanced problem-solving and flexible thinking cannot be done by AI. Jobs in education, most healthcare work and arts are largely immune to AI replacement for example.
Some jobs, that are projected to see growth, instead of decline in the age of AI include:
- Jobs in the Education industry, which are expected to grow at around 10% during the 2023–2027 period.
- Advanced equipment operation, such as agricultural equipment operators, which are expected to see an increase of 30% in the next few years
- Healthcare work where empathy is a requirement for care nurses, doctors, counselors
- Creative professions such as writers, musicians and poets where AI has not developed far enough to create convincing pieces that convey the same emotion that humans do
- Skilled trades such as building, plumber and electricians
- Mediators, managers and business leaders
Skills that are considered ‘core skills’ by employers reflect the primarily human skills that AI has yet to develop. These include: analytical thinking, creative thinking, resilience, flexibility and agility, motivation and self-awareness; as well as curiosity and lifelong learning.
Careers Created By AI
Whilst there is a significant shift in many industries due to the utilization of AI software, one of the great benefits of machine learning tools is the generation of new jobs. It is thought 133 million new roles will be created thanks to AI utilization.
According to research, there is a projected rise in many careers, including:
- Work in higher education
- Agriculture professionals
- E-commerce specialists
- AI and Machine Learning specialists,
- Data analysts
- Data security
“AI will augment human capabilities, free workers from mundane tasks, and create new job opportunities, but it will not replace the human workforce.”
AI and the Economy: Boom or Bust?
Whilst there is a shift in the job market – away from some career types and towards others, the whole economy is meant to benefit from the utilization of AI software.
According to Goldman Sachs (2023), there is a predicted 7% increase in global GDP, equivalent to $7 trillion, and a 1.5% per annum increase in US productivity growth over a 10-year period.
Whilst other studies from the McKinsey Global Institute (2023) predict that generative AI could offer a boost as large as $17.1 to $25.6 trillion to the global economy.
In saying that, highly skilled jobs, particularly those in technology are being favored.
Sadly, lower skilled labor jobs are more at risk of automation from AI, and pose greater financial risk to these people. This has the potential to increase social inequality and pay gaps between skilled and unskilled labor work.
How Businesses Are Betting on AI
Businesses are beginning to invest serious resources into shifting towards using AI systems to automate tasks in order to become more efficient, minimize errors and shift resources to other tasks. Businesses are becoming more reliant on AI systems where AI can complete tasks faster, more accurately, and cheaper than humans are able to.
Some of these tasks include logistical planning such as planning traffic routes in order to optimize postage, whilst other examples include relying on data analytics in the market to target advertisement, for example.
What People Think About AI and Their Jobs
AI has taken over the world by storm, especially since the release of ChatGPT in November 2022. Within 2 months of its launch, it is estimated that the platform attracted 100 million monthly users, breaking world records. With this came many fears about what it would mean for people’s jobs and their career prospects.
This fear is not unwarranted. The World Economic Forum estimates that 75 million jobs will be displaced, as a result of AI utilization. In China for example, it is estimated that over 50% of all current workplace tasks will be performed by machines.
So it comes as no surprise that 77% of people are concerned that AI will cause job loss in the next year.
However, there are two things to note.
One, that many people are seriously resistant to the shift towards AI in spheres such as healthcare. For example 60% of people would feel uncomfortable with their doctor using AI to diagnose. These roles are likely safe from automatisation, even if theoretically possible.
The second thing to remember is that AI is creating more jobs than it is projected to be lost. The important thing is that these jobs will require upskilling to use AI, and work within its means.
The Future of Work in the Age of AI
Whilst the future is uncertain, it should be exciting, not scary.
AI is predicted to create more jobs than it causes displacement. However, the work that is created requires new skills and experience.
Unsurprisingly, one of the new skills required is knowledge in how to utilize AI systems, as well as how to interpret and work within the limits of AI software. From now until 2027, AI and big data skills are ranked the number one priority for companies with over 50,000 employees, for example.
Reskilling and AI training is becoming one of the most in demand skills moving towards the job market in 2030. Not only is it in demand, it’s almost an expected skill, as AI is impacting almost every job in the market. In order to keep up with the changing roles, it is important to learn AI software skills.
If you’re someone who thinks about the future, who has worked hard to get where you are, it is important to maintain your skill set as relevant in the job market. AI training is one of the most beneficial ways to upskill, and keep your CV and skills up to date.
With 77% of companies either using, or exploring the use of AI in business, it is more important than ever to stay ahead of the curb to ensure you, and your loved one’s future.
Finn founded Learnopoly to provide unbiased, in-depth online course reviews, helping learners make informed choices. With a decade in financial services, he developed strategic partnerships and business development expertise. After a frustrating experience with a biased course review, Finn was inspired to create a trusted learning resource.