‘We have found that around 15 percent of the global workforce, or about 400 million workers, could be displaced by automation in the period 2016–2030.’
— McKinsey Global Institute
The proliferation of artificial intelligence is a worrying trend for many, with individuals fearing an end to their livelihoods.
To others, it is seen as a tool to complement human labour raising productivity levels and facilitating repetitive work.
Are those fears warranted and will machines take our jobs? Quite likely in the future, but that is something that remains to be seen.
‘The theory and development of computer systems able to perform tasks normally requiring human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages.’
— Oxford Dictionary
Artificial intelligence is being cultivated in various industries. For instance, Netflix uses an AI algorithm to personalise recommendations to its members.
Concerns that artificial intelligence is rapidly developing are justified with AI systems reaching millions of users as of 2023.
How is AI affecting employment prospects?
‘Digitisation, automation and generative AI are having a profound impact on labour markets across developed economies, with low-skilled jobs or those involving repetitive tasks at greater risk of being replaced by AI.’
— Australian Financial Review
According to Goldman Sachs, when looking at the share of industry employment that is exposed to automation by AI, office and administrative support roles lead the pack with a 46% rate of exposure followed by legal at 44% etc. Yet, the problem lies in that it is also affecting higher skilled roles such as engineering, and as identified just before, legal — which were once regarded as high-earning and respectful professions.
Equally likely, is that machines could displace about 85 million jobs by 2025 as identified by a World Economic Forum report titled: ‘The Future of Jobs Report 2020’…