As AI accelerates faster than anyone anticipated, experts say its impact on the workforce could be devastating.
The growing influence of platforms such as OpenAI’s ChatGPT raises urgent questions about the role such systems will play in shaping our lives, particularly the workforce.
Sadly this tech innovation could lead to the job market becoming even more dreadful by potentially wiping out millions of roles by 2035. Expect to see a major overhaul of the global workforce, with one AI expert suggesting that only five jobs would be safe from AI by 2030.
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A separate report suggested that AI likely to replace up to three million jobs in certain sectors over the next decade.
The research, published by the National Foundation for Educational Research (NFER), suggested that developments in AI technology would see jobs in sectors such as customer service, machine operations and admin vanish.
NFER's report echoes grim research from the Chartered Institute for Personnel and Development (CIPD), which suggested one in six employers (17 percent) were planning to cut jobs and replace them with AI over the next year. This includes admin, which is predicted to shrink by 62 percent as employers replace staff with AI.
The report does conclude that 2.3 million jobs would also be created in the next 10 years; however, the distribution would be uneven.
"The additional jobs that we’re getting in the labour market tend to be professional and associate professionals," Hillary explained. "Displaced workers, the one to three million that we talk about in our report, face significant barriers to get back into the labour market."
He continued: "The projected changes are dominated by growth in higher-skilled, generally better-paid occupations.
“Meanwhile, despite growth in overall employment, most low- and mid-skilled occupations are projected to decline."
These findings differ from recent research by King’s College London, which indicated that even higher-paid sectors have experienced job losses. A separate UK government report also noted that roles such as sports players, bricklayers, and plasterers are among the least vulnerable to AI.
Elon Musk recently shared his more optimistic vision of the future and the improvements AI could bring to the workforce.
Speaking at the recent Saudi-US Investment Forum, Musk outlined the benefits that AI advancements, such as humanoid robots, would bring to the economy as a whole:
"I also think it unlocks an immense amount of economic potential, because when you think about it, what is the output of an economy? It is productivity per capita times population or capita. Once you have humanoid robots, the actual economic output potential is tremendous. It's really unlimited," Musk explains.
"Potentially we could have an economy 10 times the size of the current global economy, where no one wants for anything. Sometimes in AI they talk about universal basic income. I think it's actually going to be universal high income, where anyone can have any goods or services that they want."