New Delhi,Updated: May 2, 2023 11:47 (IST)
By Divyansi Sharma: The world is undergoing a technological transformation due to the popularity of AI chatbots such as OpenAI’s ChatGPT, Microsoft’s new Bing and Google’s Bard. What seemed impossible a year ago is now suddenly possible and people are finding new ways to take advantage of emerging technologies. Whether you’re composing music, writing poetry, or writing essays, ChatGPT excels in many ways. Also, with the popularity of AI chatbots, a new career option called prompt his engineering is becoming popular.
But rapid engineering isn’t the only occupation of the future. According to a study by the World Economic Forum (WEF), he is expected to create 69 million jobs worldwide in the next five years. However, the study also estimates that about 83 million jobs will be cut by 2027.
WEF survey surveyed 803 companies
The WEF surveyed a total of 803 companies with a combined workforce of over 11.3 million people. These companies represent 27 industrial clusters and come from 45 different economies across different regions of the world.
“Almost a quarter (23%) of employment is expected to change (globally) through a growth of 10.2% and a decline of 12.3% over the next five years,” the WEF said in its study.
Indian Job Market Scenario
The Indian job market is expected to grow by 22%. And the senior roles he belongs to AI, machine learning and data fields. The survey also added that the majority of Indian companies (61%) believe that widespread implementation of ESG standards will lead to increased employment. This was followed by adoption of new technologies (59%) and improved digital access (55%). The report identifies AI and machine learning experts, as well as data analysts and scientists, as key roles to drive industry transformation in India over the next five years.
AI Brings Growth and Loss
Additionally, 75% of the companies surveyed are expected to implement AI in their operations. 50% of these companies expect job growth, while 25% expect job loss as a result of AI’s algorithmic replacement. The report also identified the education and agriculture sectors as the biggest drivers of job growth.
Employment is expected to increase by 10% in the education sector, creating 3 million new jobs, while agriculture is expected to increase by 15-30%, creating an additional 4 million jobs. It is predicted that
