[Image of AI industry, Credit to Pixabay]

The World Economic Forum’s Future of Jobs Report estimates that by 2025, 97 million new jobs will be created, while 85 million jobs will be displaced by Artificial Intelligence, generating both concerns and hopes among employees in the coming years.

Over the recent years, Artificial Intelligence has profoundly impacted many sectors, driven by technological advancements in machine learning techniques, more affordable data storage, and improved computing capabilities.

The healthcare sector, for example, has reaped significant benefits from AI advancements.

Developments such as virtual healthcare services have enabled patients who are unable to attend in-person appointments to schedule consultations digitally, mutually benefiting both patients and doctors.

Furthermore, the technology has allowed professionals to leverage AI, specifically machine learning, to build early detection algorithms and models that analyze medical images and records to predict diseases earlier.

Manufacturing is another sector that has witnessed an increase in productivity attributed to the effective use of AI from skilled workers.

Specifically, a study conducted by a multidisciplinary team of researchers found that a worker’s performance increases by 40%, when AI is used within its capabilities, highlighting AI’s potential to effectively handle routine tasks, allowing workers to concentrate on more complex issues.

However, the rapid improvements in AI technology poses a significant threat of job displacement, an inevitable challenge for many workers.

As stated by TeamStage, a tally of 1.7 million manufacturing jobs have been lost due to automation, and the trend is expected to intensify: by 2030, more than 20 million manufacturing jobs may be replaced by robots.

The ongoing decline in menial jobs involving repetitive tasks and minimal skill requirement is expected to continue, posing a challenge regarding job security for many workers.

But it is not only the basic jobs at risk: experts predict that as AI development advances, even jobs requiring higher skill levels may be at risk of replacement.

Therefore, it seems to be crucial for both current and future workers to understand the trend and adapt accordingly, equipping themselves with skills to stay competitive in the rapidly changing job market, likely being more related to AI.

For instance, the rapid integration of AI into various industries has led to a surge demand for AI-specific jobs: AI specialist roles have witnessed a 74% annual increase in job listings, as stated by LinkedIn’s 2020 Emerging Job Report.

Their salary appears to align with the demand: on average, AI engineers may expect to earn between $100,000 and $150,000 per year.

Recognizing the shift, schools are now offering AI courses teaching AI-specific skills and practical applications, enabling students to prepare for the future job market.

The biggest benefit of this is the flexible and diverse career opportunities, opening doors to a wide range of career paths; as more and more sectors of the job market integrate AI, the versatility of these skills will become increasingly valuable, and it is the individuals equipped with these that may openly explore new fields as the demand surges.

Ultimately, the rise of AI is set to transform the job market, driving both job displacement and the creation of new roles. This transformation necessitates t workers to develop the ability to navigate and adapt to this evolving landscape.