What’s going on:
Artificial intelligence (AI) continues to permeate various sectors, threatening to automate numerous jobs across different industries. According to a World Economic Forum (WEF) study, AI could automate approximately 83 million jobs globally by 2027. Other estimates from Goldman Sachs suggest an even higher potential for job losses (up to 300 million), according to Chamber of Commerce.
Analysis of U.S. Bureau of Labor Statistics data by Chamber of Commerce reveals that administrative roles, record-keeping, cashiers, and traditional security roles among the most vulnerable occupations. Further analysis reveals that the Metropolitan areas with the highest number of at-risk jobs include:
- Las Vegas, Nevada
- Miami, Florida
- Louisville, Kentucky
- Orlando, Florida
- Grand Rapids, MIchigan
- San Antonio, Texas
- Phoenix, Arizona
- Salt Lake City, Utah
- Detroit, Michigan
- Nashville, Tennessee
Why it matters:
The increasing prevalence of AI puts millions of jobs at risk due to automation. Many experts believe that employees will need to upskill or reskill to stay competitive in the evolving job market. The increased adoption of AI might contribute to income inequality, and lead to social and economic challenges if the technology is not managed effectively.
How it’ll impact the future:
The increased adoption of AI across numerous industries is estimated to lead to the displacement of millions of jobs but it also opens opportunities for new roles. In the future, data analysts, machine learning specialists, and cybersecurity experts may see their professions grow by up to 30%, according to Chamber of Commerce. This transformation sheds light on the importance of continuous learning of the technologies that are shaping the future of work. The switch to AI-dependent roles may require training and education programs to better prepare workers for future opportunities.
