AI Benefits and Risks For Jobs: New Delhi. While Artificial Intelligence is exciting people, it is also scaring people that it will eat up jobs. Many experts are saying that due to AI there will be no need for humans. But now a new report is giving a different prediction. It is saying that AI is going to create a flood of jobs.
What is the matter?
Actually, the World Economic Forum has released its report about future jobs. A quick conclusion to be drawn from the report is that 40 percent of companies are planning to cut headcount due to AI automation. But a comprehensive analysis of the report suggests something else.
different picture
Tech website Ars Technica’s detailed analysis of the report has revealed that AI can create 170 million new jobs globally. Since 92 million jobs may also be eliminated by AI, there will be a net increase of 78 million jobs by 2030.
The World Economic Forum has written in the report that half of the employers are planning to change their business in response to AI. According to the report, two-thirds of employers are planning to hire talent with specialized AI skills, while 40 percent are expecting to reduce their workforce where AI could lead to automation.
The forum conducted a survey for the report in which data was collected from 1,000 companies. These thousand companies are the ones that employ 14 million employees globally.
The new report points to specific skills that will dominate jobs by 2030. Companies ranked AI and big data expertise, network and cybersecurity, and technical literacy as the three most in-demand skill sets. The Forum has identified AI as the biggest potential job creator among new technologies. 86 percent of companies expect AI to transform their operations by 2030.
declining jobs
The Forum’s report has identified categories of jobs that are facing decline. Among these, Postal Service clerks, executive secretaries and payroll workers top the list. For the first time, graphic designer and legal secretary are among the fastest declining positions. The report says this is because the potential of generative AI in creative and administrative tasks is increasing.
the other side of the picture
Despite workforce reductions, the forum hopes that human-machine collaboration in the workplace will take tasks to a different level as AI takes over. The report shows that 77 percent of firms surveyed will launch retraining programs to help existing employees collaborate with AI systems between 2025 and 2030.
Nearly 70 percent of firms are planning to hire experts who can design AI tools, while 62 percent of firms are looking for employees skilled in working with these AI systems.
Why is this report
The findings come as the World Economic Forum prepares for its annual meeting in Davos later this month. AI will be the main topic of discussion at the meeting.WEF conducts its employment analysis every two years to help policy makers, business leaders and employers make decisions about recruitment trends.