AI’s Impact on the Workforce: Jobs Lost and Created

AI's impact on the workforce may lead to job loss in some sectors and foster workforce transformation

The world is fast changing due to artificial intelligence (AI), and this is also true for the workforce. Many different businesses now employ AI to automate jobs, and this trend will only grow in the next years. As machines grow increasingly capable of performing the tasks currently performed by people, some experts predict that the use of AI will result in significant job losses. Others contend that because AI gives businesses and industries new opportunities, it will create jobs. The truth is that depending on the business and the automated functions, AI's impact on the workforce will be complex and unique. But there's no denying that AI brings workforce transformation. According to a Goldman Sachs analysis, if generative AI lives up to its hype, up to 300 million jobs might be lost or diminished in the US and Europe. However, this same paper also notes that AI may lead to the creation of new jobs.

 Jobs Generated by AI

AI may result in job losses in some industries but also provide new opportunities in others. These new jobs will require different skills than those required for the mechanized jobs. Examples of new jobs that artificial intelligence (AI) could produce include AI developers, AI instructors, researchers in AI, Product managers for AI, and automated sales personnel. These are but a few instances, and in the years to come, it's possible that the list of new employment that AI could generate will expand.

Jobs Lost by AI

Numerous occupations run the risk of becoming automated by AI. These include ordinary, repetitive jobs that don't call for much originality or critical thought. The following are some instances of jobs that could be automated: clerks who enter data, personnel that provide customer service, drivers of trucks, factory employees, and retail employees. These are but a few instances, and in the years to come the number of occupations that could be automated by AI is sure to expand.

While there is certainly cause for concern regarding job losses due to AI, many experts also point to the potential for new jobs and opportunities, particularly in the areas of AI development and implementation. As AI continues to evolve, it will be important for individuals, companies, and governments to adapt and find ways to leverage its potential benefits while also mitigating any negative impacts on the workforce.

In conclusion, depending on its use and regulation, AI has the potential to revolutionize the world of work in both positive and harmful ways. It's critical to understand the opportunities and hazards that AI presents for various industries and occupations and to get ready for the changes that are about to occur.