Will AI and Automation Impact on Jobs? Exploring Future Changes, Opportunities, and Challenges

Artificial Intelligence (AI) and automation are changing the way we work. But how will they impact jobs? This week, we dive deep into this hot topic to understand what the future holds for workers around the world.

Job Displacement: Jobs at Risk

AI might replace many jobs soon. A report by Goldman Sachs says that AI could take over 300 million full-time jobs worldwide. That’s about 9.1% of all jobs globally, according to Exploding Topics.

By 2030, around 375 million workers, or 14% of the global workforce, might need to change their careers because of AI. In places like the United States and Europe, two-thirds of jobs could be affected by AI. About a quarter of these jobs might be done entirely by machines, as reported by Nexford University.

Current Impact: What’s Happening Now

AI is already changing jobs today. In 2024, 14% of workers have lost their jobs because of AI and automation. In May 2023 alone, there were 3,900 job losses in the United States linked to AI, making up 5% of all job losses that month (SEO AI Blog, Exploding Topics).

Since the year 2000, automation has caused 1.7 million manufacturing jobs to disappear. In the U.S., 23.5% of companies have used ChatGPT to replace workers, according to Exploding Topics.

Job Creation and Growth: New Opportunities

Even though some jobs are lost, AI also creates new ones. The World Economic Forum says that by 2025, AI might create 97 million new jobs in 26 countries, even if 85 million jobs are displaced (World Economic Forum).

By 2030, AI could boost the global GDP by 26%, adding about $15.7 trillion to the economy (World Economic Forum). A study by PwC suggests that while automation may cause job losses now, new jobs will be created in the long run, balancing things out (World Economic Forum).

Sector-Specific Impacts: Where Changes Are Happening

Different sectors feel the impact of AI in various ways. The tech sector saw a huge number of layoffs in 2023, with 136,831 job losses, the biggest since 2001 (SEO AI Blog). In manufacturing, two million workers might lose their jobs to automated tools by 2025 (Exploding Topics).

Jobs that involve writing have decreased by 30.37%, and jobs in software, app, and web development have gone down by 20.62%, showing a big drop in demand (Harvard Business Review).

Demographic and Geographic Variations: Who Is Affected

Not everyone is worried the same way about AI taking their jobs. Workers aged 18-24 are 129% more likely to worry about AI making their jobs obsolete compared to those over 65 (Exploding Topics). In advanced economies, 60% of jobs are at risk of being replaced by AI, while in low-income countries, this number is 26% (Exploding Topics).

Women might face a bigger impact from AI job changes than men, according to Content Detector.

Future Outlook: What Lies Ahead

Looking ahead, AI will touch 80% of the U.S. workforce, affecting at least 10% of their tasks (Content Detector). One in four CEOs expects that generative AI will cause job cuts of 5% or more in 2024 (Exploding Topics).

The jobs of the future will need a mix of technical skills, creativity, and adaptability to work well with AI and automation (Innopharma Education).

Preparing for the Change: Upskilling and Reskilling

While there are concerns about AI taking jobs, many experts believe that AI will ultimately lead to job growth and economic benefits. However, this change will need a lot of investment in upskilling and reskilling the workforce. Workers will need to learn new skills to keep up with the changing job market (World Economic Forum, Innopharma Education).

Conclusion: Embracing the Future

AI and automation are set to change the job landscape dramatically. While some jobs will disappear, new ones will emerge, and the economy could grow significantly. The key to navigating this change is to invest in education and training, helping workers adapt to new roles and technologies. By doing so, we can ensure that AI and automation lead to a better, more prosperous future for everyone.