With the rise of sites like ChatGPT and other computer-based assistance throughout all industries, 2023 seemed to be “The Year of AI.” The sudden burst made many people concerned about whether artificial intelligence would take over our jobs. Researchers acted quickly and found interesting results. Here are some of the facts presented by McKinsey Global Institute in their report, “Generative AI and the future of work in America“:
Due to advancements in AI, robotics, and other technology, at least 14% of employees worldwide will likely need to shift careers by 2030.
KGI expects a decline in positions that do not require college degrees, with the growth of jobs requiring hiring levels of education and skills. Those without formal higher education most often fill low-income positions. Because of this, those who are in the two lowest wage ranges – those earning less than $30,800 per year and those earning $30,800-$38,200 per year – are “10 to 14 times more likely, respectively, to need to change occupations by the end of this decade than the highest earners.”
AI and other automation are expected to drastically increase the manufacturing industry. Even though a decline in production jobs is most likely, machinery automation can leave people with “more interesting work that requires creativity, problem-solving, and collaborating with others.”
Employers should examine their hiring process to keep up with career changes and the growth of job opportunities in fields such as technology and education. Assessment is particularly important regarding college requirements. “Some 60 percent of US workers have skills gained through experience but lack four-year college degrees.”
The most considerable job losses due to AI and other technology center around office support, customer service, and food services. However, “there could be demand for 3.5 million more jobs for health aides, health technicians, and wellness workers, plus an additional two million healthcare professionals.”
Ultimately, KGI has expressed that AI will create a shift. “One of the biggest questions of recent months is whether generative AI might wipe out jobs. Our research does not lead us to that conclusion, although we cannot definitively rule out job losses, at least in the short term. Technological advances often cause disruption, but historically, they eventually fuel economic and employment growth.”
