AI will lead the race in the fastest growing jobs over the next five years, according to a World Economic Forum study. Here are some careers to consider.
Artificial intelligence (AI) roles will be the fastest-growing jobs in the next five years, according to new research.
Interest in AI has exploded in recent months with the release of tools like ChatGPT and Midjourney, raising concerns about how this new technological revolution will affect the world of work.
Economists and job experts are trying to predict which jobs are most at risk and what kinds of new jobs will be created. Future work style report On Monday, we’ll detail which jobs will grow the fastest over the next five years and which will decline the fastest.
Unsurprisingly, AI and machine learning specialists were among the fastest growing jobs. They were followed by sustainability specialists, business intelligence analysts, and information security analysts.
By contrast, clerks working in banks and other similar environments are set to run out of jobs the fastest, according to the report.
Postal clerks, cashiers and data entry clerks are also fast disappearing jobs.
14 million jobs
WEF’s Future of Jobs report is based on survey data covering the world’s largest employers’ forecasts for the next five years. The survey included 803 companies employing more than 11.3 million workers across 27 industries and 45 economies in all regions of the world.
It details how employers expect 69 million new jobs to be created and 83 million to be scrapped. This equates to his 2% reduction in current employment, or his 14 million jobs. The report attributed the decline to economic challenges such as high inflation, slowing economic growth and supply shortages.
Data entry workers have the highest absolute number of unemployed, with 8 million expected to lose their jobs within five years, followed by administrative secretaries, executive secretaries, accountants, bookkeepers and patrols. Clerks follow. These three occupations together account for more than half of the expected job losses, notes the Future of Jobs 2023 report.
On the one hand, increased adoption of technology and increased digitization will lead to the greatest disruption to the labor market, which will be positive for job creation. More than three-quarters of his surveyed companies plan to adopt big data, cloud computing and AI technologies over the next five years.
But technological innovation is also responsible for much of the expected unemployment. Online banking has been spotted as a service that is increasingly leading to bank branch closures, and bank tellers are expected to drop by 40% over the next five years.
Automation, sensor technology, and online services are also reducing the need for postal service clerks, cashiers, ticket office clerks, and data entry workers. All of these occupations are expected to decline by more than a third.
“By 2023, labor market transformation driven by technological breakthroughs such as the advent of the age of generative artificial intelligence (AI) will be driven by economic and geopolitical turmoil and social and environmental pressures. Exacerbated by rising tides, the report’s foreword mentions the World Economic Forum.
“After the past three years of widespread instability across the world of work, the outlook provided in this report is that workers, businesses, governments, educators and civil society are better prepared to cope with disruptions and opportunities. We hope to contribute to an ambitious multi-stakeholder agenda to prepare: come and empower them to navigate these social, environmental and technological transitions.”
Here are the 10 fastest growing and fastest declining jobs, according to a WEF survey.
fastest growing jobs
10. Digital transformation specialist
9. Agricultural equipment operator
8. Electrician
7. Robot Engineer
6. Data analysts and engineers
5. Fintech Engineer
4. Information Security Analyst
3. Business Intelligence Analyst
2. Sustainability Specialist
1. AI and machine learning specialists
rapidly declining jobs
10. Door-to-door salespersons, etc.
9. Statistics, Finance and Insurance Clerks
8. Legislators and Officials
7. Accounting, Bookkeeping, Payroll
6. Document Recorder and Stock Keeper
5. Secretary and Executive Director
4. Data Entry Clerk
3. Cashiers and Ticket Clerks
2. Postal worker
1. Bank employees, etc.
Sustainability jobs are on the rise
As the world tries to fight climate change, global efforts to decarbonize industry will significantly increase sustainability jobs in the near future, says the report.
Nearly 30 million jobs could be created by the end of 2020 in the areas of clean energy, efficiency and low-emission technologies.
But the question arises as to how all these new workers acquire the necessary skills. Employers surveyed estimate that about 44% of worker skills will be lost in the next five years, with cognitive skills such as complex problem-solving being considered the most important.
Six out of 10 workers will need training for this upskilling by 2027, yet only half of workers currently have access to adequate training opportunities.
One of the key skills many companies want to teach their employees is how to work with AI, and nearly 75% of companies expect to adopt AI. Half of respondents expect AI to create more jobs, and 25% expect it to result in job losses.
