The AI revolution could render your skills less useful in an AI-driven labour market. To remain relevant, you need a career rejig now.
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Artificial Intelligence (AI) is currently driving an era of technological revolution. It’s also changing the nature of work and how we think and live. The AI revolution is transforming many industries, including healthcare, finance, education, manufacturing and services.
AI technology is reshaping the economy and creating new opportunities for workers across industries and occupations. AI impacts careers and drives the quest for advancement in all human activities.
A new work order driven by the AI revolution is emerging. So, job functions will change, new career opportunities will arise, and some existing ones will become obsolete. To remain relevant, everyone requires a career rejig. This article explains why and how.
1. The AI Revolution will disrupt the labour market.
Artificial Intelligence will impact your work, but you are not alone. Research by Goldman Sachs estimates that AI tools such as DALL-E and ChatGPT could automate 300 million full-time jobs. Imagine how this will affect your current tasks.
According to The New York Times, researchers at Open AI, the maker of DALL-E and ChatGPT, and the University of Pennsylvania found that 80% of US workers could experience a minimum effect of 8% in their tasks. You may be in that category.
Here’s why.
AI-powered machines are performing repetitive tasks better than humans. Accordingly, Companies are integrating AI into their operations to increase efficiency and reduce costs.
Tech geeks have predicted continued momentum in AI investments in the coming years. Investment in AI technology has already resulted in using chatbots to replace customer service representatives.
AI systems are improving accuracy and aiding fraud detection in financial services. They are also helpful for credit scoring and portfolio management. Furthermore, automated AI systems are now handling repetitive tasks in accounting and finance. They are also improving the efficiency of previously time-consuming reporting procedures.
AI technology is now used in healthcare to analyse large data sets and provide insights for diagnoses, treatment plans, and patient outcomes. It’s also developing new occupations and enhancing productivity across industries.
So, the AI revolution has arrived and is causing significant disruptions in the labour market.
2. AI revolution is creating new jobs and career paths requiring new skill sets.
The AI revolution drives the emergence of industries, job roles, and businesses. AI consultants, data privacy specialists, and AI ethics experts are among the new set of professionals in the AI technology field.
These AI specialists are responsible for developing and using AI across industries and businesses. For example, AI trainers have emerged as professionals who can train AI systems to recognise patterns and improve performance.
Tech companies need AI ethicists to ensure AI systems’ development and responsible use. AI auditors are crucial for ensuring that AI systems function correctly and not causing harm.
As AI technology advances, the new set of professionals will provide the most in-demand skills required to:
- Train and implement AI Systems.
- Integrate and Interpret AI Systems
- Manage AI Systems
3. The AI Revolution will increase competition for workers with AI-related skills.
As companies embrace the efficiency and lean production mantra, the demand for workers with AI-related skills will increase.
Yes, AI is disrupting traditional job roles, but it’s also developing new jobs requiring creativity, critical thinking and emotional Intelligence. Accordingly, those who have the needed skills will benefit in the future job market.
The new job roles will require new skills and necessitate significant investment in developing the skills needed. A 2021 World Economic Forum report suggests that half of the world’s workforce will need upskilling and reskilling by 2025 to prepare for a labour market driven by AI.
However, the rapid pace of technological change requires new models for training that prepare employees for an AI-based future. While these processes are taking shape, the competition for workers with AI-related skills will increase. Thus, rejigging your career in line with the emerging new work environment is helpful.
Why you should care.
The use of robots and automation leads to job losses.
As AI technology advances, job losses due to automation are anticipated across many sectors. A few examples are worthy of note.
Famous AI-Language modellers like CHATGPT have become the subject of recent research about their effects on occupations, industries and geographies. The study shows that dramatic advances in AI modelling capabilities will significantly affect teaching, marketing and legal services careers.
Furthermore, AI researchers have listed other critical job roles that may be at risk due to the AI revolution. These include:
- Customer service representatives
- Financial analysts
- Data entry clerks
- Travel agents
- Manufacturing workers
- Bookkeepers and accountants
- Doctors and radiologists.
As the nature of work changes due to the gradual integration of AI, more occupations will be impacted. Thus, only workers who can rejig their career strategy will remain relevant.
The AI Revolution will impact skilled, unskilled and high-tech knowledge workers.
What is the connection between technology and jobs? Many think it’s about robots and automation taking over relatively unskilled factory jobs.
They may be right.
However, the above answer suggests the AI revolution would mainly affect workers in the manufacturing and agricultural sectors.
Unfortunately, research by the Brookings Institution suggests otherwise.
According to Brookings’s research, recent developments in AI technology may impact high-skilled jobs and high-tech knowledge workers more than thought. The study concluded that “better-paid, better-educated workers face the most exposure” from AI.
The AI technology will automate many tasks and processes requiring specialised skills. So, those who can’t adapt may need help in the job market, regardless of their qualifications. Thus, the effects of the AI revolution will go beyond workers who lack specialised skills.
The emergence of new job roles
The AI revolution will create new jobs that require new skills. The following tech skills are beneficial for working in an AI-focused environment: programming, machine learning, data ethics and analysis, coding and cyber security. If you possess these skills or are willing to invest your resources to obtain them, your job prospects are very bright.
Here’s why.
According to Indeed, the world’s leading employment website, these tech skills are in high demand. Despite the big tech layoffs of 2022-2023, Indeed’s list of the best jobs for 2023 indicates that eight of the top ten job positions are technology related. Thus, now is the time to adjust your career strategy to benefit from the new work order.
What to do
The old work order is fading. Accordingly, those who work in at-risk occupations now face a new reality. To adapt, they must get skills relevant to the AI revolution. Here’s how to rejig your career to adjust to an AI-focused work environment.
- Learn at least one of the most popular programming languages: Python, Java, C++ and R.
- Enhance your Mathematics skills. Knowledge of statistics and probability is essential.
- Enhance your business skills: Leadership, communication, team building, marketing and negotiation.
- Keep track of developments and opportunities in your field as the AI revolution unfolds.
- Commit to continuous learning and be flexible in your career choice. Continuous learning keeps you relevant and competitive in the job market.
- Network productively. Here’s how.
The Last Word
The AI revolution will transform our work and lives in ways that remain the subject of research. As AI technology evolves, the impact is being felt across various fields. The old work order is now automated for efficiency and productivity. Furthermore, new job roles are emerging, and professions are changing.
Finally, the revolution in AI technology necessitates reskilling and upskilling. As old notions of work and employment fade away, those who wish to remain relevant must make strategic adjustments to their career paths.
Now is the time.
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