85m jobs will go by AI and, Robotics and automation according to the ‘World Economic Forum’. *
300m will go predicated by Goldman Sacks.**4
97m jobs will be created according to Accenture.
Between those predictions lies the true but which jobs are most at risk? With impacts not being even on societies.
It will affect the young more than middle-aged workers, higher up the ladder up on their profession ladders.
Communities most at risk from disruption will need support from businesses and governments.
In 2025, analytical thinking, creativity and flexibility are among the top skills needed; with data and artificial intelligence, content creation and cloud computing the top emerging professions.
The most competitive businesses will be those that choose to reskill and upskill current employees.
The same will go for countries.
Job losses cause by AI and automation are expected to have a significant impact on jobs in the UK, as they will likely lead to both job displacement and the creation of new job opportunities. The exact nature and extent of this impact will depend on various factors, including the pace of technological advancement, the adoption of AI and automation in different sectors, and the ability of the workforce to adapt and acquire new skills. Here are some potential impacts:
Job displacement: AI and automation technologies have the potential to automate repetitive and routine tasks across various industries, such as manufacturing, transportation, and customer service. This could lead to job losses for certain roles, particularly those that involve manual labor or repetitive processes.
Job transformation: While some jobs may be eliminated, others may undergo transformation. AI and automation can enhance productivity and efficiency by automating certain tasks, allowing workers to focus on more complex and creative aspects of their jobs. For example, AI-powered tools can assist professionals in data analysis, decision-making, and customer service.
Skill requirements: As AI and automation advance, there will be an increased demand for skills related to managing and developing these technologies. Jobs in areas such as data analysis, machine learning, software development, and robotics are likely to see growth. Workers will need to acquire new skills to remain employable and to take advantage of emerging opportunities.
New job creation: While automation may lead to job displacement, it can also create new job roles and industries. For instance, the development, maintenance, and oversight of AI systems will require skilled professionals. Additionally, there may be an increased demand for jobs that involve creativity, critical thinking, and human interaction, as these areas are difficult to automate.
Economic impact: AI and automation have the potential to drive economic growth and improve productivity. By streamlining processes, reducing errors, and enabling new innovations, these technologies can lead to greater efficiency and competitiveness in industries. However, there may be short-term disruptions and transitional challenges as the workforce adapts to the changes.
To mitigate the potential negative impacts and ensure a smooth transition, it is crucial for governments, businesses, and educational institutions to collaborate. Investments in reskilling and upskilling programs, creating flexible labour markets, and fostering an environment that encourages entrepreneurship and innovation can help individuals and the economy adapt to the changing job landscape.
It will open up new avenues for growth, human ingenuity and development that we have not thought of as yet so no need to be pessimistic but be agile to embrace business and social transformation.
Zulf Choudhary
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