Are you worried about artificial intelligence taking over your role at work?
Your fear of AI replacing jobs isn’t entirely unfounded as the World Economic Forum has estimated that this rapidly growing technology can replace nearly 85 million jobs by 2025. However, the same report also concluded that AI is likely to generate 97 million new jobs in a multitude of fields such as big data, machine learning, information security, and digital marketing.
So, if you’re wondering what jobs will AI replace and which ones are safe for now, we’ve got you covered.
What is the impact of AI on the job market?
In May 2023, nearly 4,000 people in the US lost their jobs due to artificial intelligence. This report once again ignited the debate about AI replacing jobs. However, many experts believe that the impact of AI on the job market is twofold. While it certainly has the potential to automate certain tasks and displace certain roles, it will also create new opportunities in different industries, especially those centered around AI development, implementation, and oversight.
According to the Future of Jobs Report 2023 by the World Economic Forum (WEF), the most in-demand skill over the next five years will include leadership, analytical thinking, empathy, active listening, and social influence. Moreover, it predicted a 40% increase in the number of AI and machine learning specialists by 2027, a 30-35% rise jump in the demand for data analysts, scientists, and big data specialists, along with a 31% hike in demand for the information security analyst roles. Put together, this would lead to the creation of nearly 2.6 million jobs.
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What jobs is AI most likely to replace?
Here are the five roles that AI is most likely to automate, as per the WEF report.
Bank tellers and related clerks
When it comes to artificial intelligence taking over jobs, bank tellers and related clerks are at the top of the list of declining jobs. This is primarily because AI has the ability to automate routine transactional tasks, such as cash handling and basic customer inquiries, which can lead to increased efficiency and cost savings for banks.
Postal service clerks
Artificial intelligence is likely to replace postal service clerks because technological advancements have made the sorting, processing, and delivery of mail and packages much more efficient. Going forward, the integration of AI in these processes can further streamline operations while ensuring accuracy and reducing associated costs.
Cashiers and ticket clerks
The widespread adoption of self-checkout systems and automated ticketing processes points towards the decline in jobs for cashiers and ticket clerks. There is no denying that AI-powered systems are well-equipped to handle payment transactions, barcode scanning, and ticket issuance. These functions not only reduce the need for human intervention but also improve efficiency in retail and transportation industries.
Data entry clerks
Data entry clerks are also susceptible to being replaced by artificial intelligence in the next five years as machine learning algorithms and optical character recognition technology are constantly evolving, reducing reliance on manual data entry. The automated systems also ensure quick and accurate data extraction, data input, and form processing, leading to faster processes.
Administrative and executive secretaries
The fifth spot on the list of declining jobs is occupied by administrative and executive secretaries, all thanks to the growing popularity of intelligent virtual assistants and natural language processing technology, such as ChatGPT. These AI-powered systems can handle appointment scheduling, document management, and basic correspondence with enhanced speed and accuracy, thus reducing the need for dedicated human support in administrative roles.
However, it’s also important to note that the impact of AI taking over jobs may vary depending on the level of automation adoption and the extent to which different institutions integrate AI into their processes.
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What jobs is AI not likely to replace?
These are the jobs that are expected to grow the fastest in the next five years.
AI machine learning specialists
The demand for AI machine learning specialists is projected to grow in the next five years, according to the 2023 report by the WEF. This is because organizations are increasingly seeking expertise in developing and implementing machine learning algorithms to drive innovation and optimize business processes.
It is also worth mentioning that AI and machine learning jobs have increased by almost 75% over the past years.
Sustainability specialists
The demand for sustainability specialists is also expected to grow substantially in the next five years as corporations are beginning to recognize the importance of integrating sustainability practices into their operations. To achieve their Sustainable Development Goals, companies would require professionals who can develop and implement sustainable strategies to address environmental and social challenges.
Business intelligence analysts
Business intelligence analysts are also expected to see significant growth in their roles as organizations across the world seek to leverage data-driven insights to make informed decisions and gain an edge over their competitors. This would lead to an increased demand for professionals who are skilled in analyzing complex data sets and extracting actionable insights.
Information security analysts
Owing to the growing importance of data security, information security analysts are also estimated to be in high demand in the coming years. Companies are expected to hire skilled individuals to protect sensitive information and mitigate cyber threats, as they strive to safeguard their data assets and maintain robust security measures.
According to the US Bureau of Labor Statistics, the employment rate for information security analysts is expected to grow 35% throughout 2031.
Fintech engineers
The fintech job market is booming. Therefore, it shouldn’t come as a surprise that the field of fintech engineering is projected to experience massive growth as financial institutions and technology companies are increasingly collaborating to develop innovative financial technologies. Organizations will require skilled engineers with expertise in both finance and technology to drive these advancements.
To conclude, AI is expected to automate jobs that lack critical thinking, nuanced communication, and human judgment. So, if your job requires social and emotional intelligence as well as creativity and innovation, you most likely don’t have to worry about AI replacing jobs – as long as you embrace the evolving technology and use AI-powered tools to augment your workflow.
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