AI will cause ‘major labor market disruption’: World Economic Forum

Applications of AI


AI could take their jobs. Getty

The global labor market is poised for a turbulent new era as technologies such as artificial intelligence accelerate the decline of paperwork while increasing demand for technology and cybersecurity professionals.

According to a report released by the World Economic Forum in Geneva, almost all jobs will be replaced in the next five years as a result of AI, digitization and other economic developments such as the transition to green energy and the reshoring of supply chains. 1/4 change. Monday.

While the study expects AI to bring about “substantial labor market disruption,” big data analytics, management technology and cybersecurity will be the top drivers of job growth, so most technologies will ultimately impact will be positive over the next five years.

The emergence of AI applications like ChatGPT, which use machines to simulate human reasoning and problem-solving, will have a particularly noticeable impact by replacing and automating many roles, including reasoning, communication, and coordination. the report said.

Nearly 75% of surveyed companies say they expect to adopt AI technology in the next five years. This is projected to result in the loss of up to 26 million jobs in recordkeeping and administrative jobs such as cashiers, ticket clerks, data entry and accounting. The WEF study looked at more than 800 of his companies, which collectively employ 11.3 million workers in 45 economies around the world.

For now, AI remains a lesser threat to the workforce outlook than other macroeconomic factors such as slowing economic growth, supply shortages and inflation, the report said. Opportunities for job creation are likely to come from investments that facilitate a shift to the environment of business, broader application of ESG standards and a broader reorientation of global supply chains, it said.



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