Artificial intelligence is transforming the job market. According to a report by investment bank, Goldman Sachs, artificial intelligence (AI) could replace the equivalent of 300 million full-time jobs. It could replace a quarter of work tasks in the US and Europe but may also bring in new job opportunities and an unprecedented productivity boom.
As AI will soon bulldoze and change the employment dynamics, let’s explore the jobs that AI might replace.
|Jobs likely to be impacted by AI||Jobs less likely to be impacted by AI|
|Data entry clerks||Doctors and nurses|
|Assembly line workers||Teachers|
|Customer service representatives||Scientists and researchers|
|Receptionists||Writers and authors|
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Data Entry Clerks
Data entry clerks are responsible for inputting data into computer systems. The advent of machine learning algorithms has enabled AI tools such as OCR (Optical Character Recognition) to recognize and digitize text from images or scanned documents. This capability reduces the need for human intervention. Grand View Research predicts that the increasing use of AI-based automation tools will cause the data entry outsourcing market to decline by 2.6% annually from 2020 to 2027.
Telemarketing involves making unsolicited phone calls to promote a product or service. AI-powered chatbots are increasingly being used to handle customer service inquiries, reducing the need for human telemarketers. The automation potential for telemarketing jobs is high. According to a report by PwC, up to 90% of telemarketing jobs are potentially automatable using current technology.
AI-powered chatbots and automated kiosks can now handle routine banking tasks such as deposits, withdrawals, and transfers. It, can thus, reduce the need for human bank tellers. A report by MarketsandMarkets predicts that the global market for interactive kiosks in banking will increase from $1.8 billion in 2020 to $2.6 billion by 2025. The market for chatbots in banking will grow from $703 million in 2020 to $2.8 billion by 2024.
Expedia and Booking.com, AI-powered travel booking platforms, now offer personalized recommendations and itineraries. It, thus, reduces the need for human travel agents. A 2020 report by McKinsey & Company estimated that up to 60% of travel agency jobs could be automated by 2025. AI-powered travel booking platforms can provide personalized recommendations and itineraries based on customer preferences and past behavior. This can reduce the need for human travel agents to manually research and create custom itineraries. In some cases, AI-powered chatbots can handle customer inquiries and bookings without the need for human intervention. This can lead to cost savings for travel companies, as well as faster response times for customers.
AI algorithms can now analyze vast amounts of data to determine insurance premiums and assess risk. It, thus, reduces the need for human underwriters. A 2021 report by Accenture estimated that up to 25% of jobs in the insurance industry could be automated by 2025. Moreover, AI algorithms can analyze vast amounts of data to determine insurance premiums. It can also assess risk more accurately and efficiently than human underwriters. Some insurance companies are already using AI-powered underwriting tools. For example, Aviva uses an AI algorithm called “Ask it Never” that can analyze customer data to determine the risk of insuring a particular person or property. AI is expected to automate many underwriting tasks. However, some experts believe that human underwriters will still have a role to play in complex cases where a more nuanced analysis is needed.
AI-powered accounting software such as QuickBooks and Xero can now automate bookkeeping and other routine accounting tasks. It, thus, reduces the need for human accountants. It is estimated that AI can perform up to 50% of the activities currently performed by accountants.
Assembly Line Workers
AI-powered robots can now perform routine manufacturing tasks such as welding, painting, and assembly. It, thus, reduces the need for human assembly line workers. Around 800 million jobs worldwide could be automated by 2030. This will include many manufacturing jobs such as assembly line workers.
Customer Service Representatives
AI-powered chatbots and voice assistants can now handle customer service inquiries and provide personalized recommendations. It, thus, can reduce the need for human customer service representatives. According to a study by Juniper Research, the use of chatbots in customer service is expected to save companies $11 billion annually by 2023.
AI-powered diagnostic tools are being developed to help healthcare professionals quickly and accurately diagnose medical conditions. Moreover, these tools can analyze large amounts of patient data and provide recommendations for treatment. A study published in Nature in 2018 found that an AI-powered system was able to diagnose certain medical conditions as accurately as human doctors. The system used deep learning algorithms to analyze medical images and patient data. AI-powered systems can also help doctors to identify patterns and predict potential health issues in patients. For example, a system developed by researchers at Stanford University was able to predict whether a patient would develop Alzheimer’s disease up to six years in advance.
Legal research and document review
AI-powered legal research tools are being developed to help lawyers quickly find relevant case law and other legal information. Moreover, AI-powered document review software can help reduce the time and cost of reviewing legal documents. A study published in the Vanderbilt Law Review in 2017 found that an AI-powered system was able to predict the outcome of Supreme Court cases with an accuracy rate of 79%. Additionally, the system used machine learning algorithms to analyze case law and other legal data. AI-powered systems can also help to improve the speed and accuracy of legal research and document review, potentially reducing the time and cost associated with these tasks. For example, a system developed by researchers at the University of Michigan was able to identify relevant cases for legal research with an accuracy rate of 90%.
Taxi and Truck Drivers
With advances in computer vision and autonomous vehicle technology, self-driving taxis and trucks can efficiently navigate roads, reduce accidents, and increase productivity. This, thus, can ultimately lead to significant cost savings for businesses and consumers alike. Over the next decade, LA Times predicts that robots will replace 1.7 million truck drivers in the United States.
Jobs AI can’t replace
1. Creative jobs
Jobs that require creativity which include that of artists, writers, and musicians, are currently difficult to replace with AI. AI can generate written content, artwork, and music. However, it cannot replicate the unique human experiences and emotions that inspire truly original creative work.
2. Healthcare jobs
Jobs that require human interaction and empathy, such as doctors, nurses, and therapists, are also difficult to replace with AI. AI can assist with diagnosis and treatment recommendations. However, it cannot provide the same level of care and emotional support as a human healthcare provider.
3. Social work jobs
Jobs that require a deep understanding of human behavior and emotions, such as social workers and counselors, are also difficult to replace with AI. These jobs require a high level of emotional intelligence and the ability to connect with clients on a personal level.
4. Event Planning Jobs
To ensure a perfect event organization, there are numerous aspects that require attention. Firstly, event planners need to coordinate with various third-party entities such as contractors, vendors, and freelancers. Secondly, they need to conduct market research for the success of the event. Also, every detail must be meticulously planned and carried out in accordance with the client’s individualized specifications. This is an area that cannot be automated through the use of artificial intelligence.
5. Education jobs
Jobs that require teaching and mentoring, such as teachers and tutors, are also difficult to replace with AI. While AI can provide personalized learning experiences, it cannot replicate the human connection and motivation that comes from a trusted mentor or teacher.
6. Counseling and psychiatry jobs
This job requires emotional intelligence, empathy, and human connection, which AI currently cannot replicate. Therefore, they cannot be replaced by AI. In addition, counseling and psychiatry jobs require critical thinking and decision-making, which involves complex ethical and moral considerations that AI is not equipped to handle.
In-demand AI jobs
With the pervasive buzz surrounding AI and the rapid advancements occurring in the field, IT professionals are poised for an exhilarating period. The emergence of AI has created a surge in demand for various job roles, including the following:
- Data Scientist – A data scientist analyzes and interprets complex data using advanced analytical tools and techniques.
- Machine Learning Engineer – A machine learning engineer works with data scientists to design and implement machine learning algorithms and models.
- AI and Robotics Specialist – An AI and robotics specialist is responsible for designing and building AI and robotics systems that can perform complex tasks with minimal human intervention.
- Data Analyst – A data analyst is responsible for collecting, analyzing, and interpreting large amounts of data to help organizations make better decisions.
- Cybersecurity Specialist – With the growth of AI, cybersecurity threats are also increasing. A cybersecurity specialist is responsible for protecting an organization’s digital assets from cyber-attacks and other security threats.
- Human-Machine Teaming Specialist – Human-machine teaming specialists ensure that humans can effectively collaborate and work alongside machines.
- AI Ethicist – AI ethicists work with organizations to develop ethical frameworks for AI.
- Autonomous vehicle operators and maintenance personnel: Self-driving cars will open new job opportunities for operators and maintenance personnel.
- Virtual reality designers and developers: AI technology will create new job opportunities for designers and developers who can create immersive virtual experiences using AI and VR technologies.
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The World Economic Forum estimates that by 2030, around 85 million jobs may be replaced by artificial intelligence. As new industries emerge, they are likely to adopt the latest AI and robotics technologies as soon as they become available. The industries of the future will likely be based on digital technology, data science, and artificial intelligence.