Generative artificial intelligence (AI) tools like ChatGPT are quickly gaining popularity and are being used across various industries to automate manual tasks. This has led to predictions of a major shift in the global job market, with as many as 300 million jobs in the US and Europe being threatened by AI, according to investment bank Goldman Sachs. The bank also stated that around two-thirds of jobs in the US could be partially automated through AI, and up to one in four tasks could be completely automated.
Certain roles that involve repetitive data entry, legal administration, mathematical skills, and healthcare jobs are expected to be impacted by AI adoption. The highest exposure to AI automation is in administrative positions and legal professions, while physically intensive areas like construction and maintenance are less likely to be affected.
As AI takes over more tasks in different fields, organizations will need to upskill or reskill their existing workforce. A report from ManpowerGroup revealed that around half of IT employers are already upskilling workers to address staffing challenges. The report also suggested that emerging technologies such as AI and virtual reality could be used to hire and train new employees.
Knowledge worker jobs are also at risk due to AI automation. Companies are now taking longer to hire knowledge workers, and workers in digital marketing, digital advertising, and digital sales are facing major disruptions. However, the displacement of workers from automation has historically been offset by new job creation.
Despite concerns about job loss, the combination of labor cost savings, new job creation, and higher productivity for non-displaced workers could lead to a productivity boom that boosts economic growth. Upwork&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPUtnRE9WYjF4M2p3QXBic0NhZGZFZUZsZ2lIbmlrZGtSVldGWXJTVEUxZUdsbldGQXpXVFZLVkU5SGR6MDk-8217;s survey of US business leaders found that 64% of C-suite executives plan to hire more professionals due to generative AI, contrary to the assumption that AI will replace millions of jobs. Remote-first enterprises are more likely to embrace AI, with 68% of full-time remote companies actively using AI tools.
However, there is a disconnect between leaders and their teams when it comes to AI adoption. While 73% of C-suite executives believe their company is actively using AI tools, only 53% of vice presidents, directors, and senior managers agree. This may be due to a lack of understanding and training around the technology.
Overall, the AI revolution is expected to bring about the &https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPUtnRE9WYjF4M2p3QXBic0NhZGZFZUZsZ2lIbmlrZGtSVldGWXJTVEUxZUdsbldGQXpXVFZLVkU5SGR6MDk-8220;AI age,&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPUtnRE9WYjF4M2p3QXBic0NhZGZFZUZsZ2lIbmlrZGtSVldGWXJTVEUxZUdsbldGQXpXVFZLVkU5SGR6MDk-8221; where workers will need to upskill themselves for the jobs that will be created through automation. With the demand for skills like AI/machine learning, cloud computing, cybersecurity, and product management projected to grow rapidly, it is crucial for businesses to prioritize upskilling and address the fear and uncertainty associated with AI adoption.