I’ve been thinking about the potential disruptions AI could introduce in the workforce. Many of us tend to avoid this discussion, but the fact that millions of employees around the globe may lose jobs to this disruptive technology is a topic that commands everyone’s attention. Here is what researchers say and what it means for you.
The Dual Effect on Companies
By now, we all know that companies are equally not immune to AI’s effects. Innovation-oriented employers risk incurring significant expenditures on AI deployment and integration.
Complicated situations await companies that do not want to evolve with AI. While their peers who embrace the transition will enjoy revenue growth, cost savings, and improved efficiency, technophobia will suffer weak competitive advantages and operational inefficiencies.
GenAI Tools and Global Job Impact
Today, I came across some interesting findings. A recent investigation by Goldman Sachs notes that GenAI tools like Copilot, ChatGPT, and Gemini will potentially affect 300 million full-time jobs globally.
“AI is expected to replace 2.4 million US jobs by 2030, with an additional 12 million occupational shifts,” a McKinsey study finds.
The World Economic Forum estimates that AI integration may render 85 million employees jobless by 2025.
There is no mincing of words. Recent technological developments have demonstrated the potential of AI to enhance productivity and efficiency in various industries.
Experts argue that a complete replacement of human jobs by new AI innovations is unlikely. Some see AI as a potential enhancer that may change the nature of certain job roles, but I would argue that professionals within “at-risk-professions” should be concerned.
As we’ve seen in the past three years, AI has come into the scene with massive impacts. Some employees have been shown the exit; others have seen a pay rise as GenAI tops the list of highest-paid tech skills.
Adaptation and Upskilling
In general, no one is sure of the future of the workplace. Professionals in highly automatable jobs like web development, data entry, translation work, transcription, and graphic design will have to adapt. Upskilling will be the only way to remain relevant in the evolving job market.
How valuable and resilient are you?
In short, the tech world is entering a highly tremendous time. Amidst the tech transition, you must assess yourself career-wise to understand your true value and professional resilience.
- What value do you bring to your employer?
- What is the one task that will possibly halt if you resign today?
- How hard is it for an AI-powered machine to replace you?
- What are your competitive advantages over modern technologies that can handle your current job? What are you bringing to the table that AI may not?
- What are your adaptability strategies in the face of technological shifts?
