Over 97 Million Jobs Set to be Created by AI

World Economic Forum Predicts AI to Create New Job Opportunities, Contrary to Doom and Gloom

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Talent Insights 12th May 2023

Jobs Set to be Created by AI

AI Job Boom? 97 Million New Roles to be Created

Although there is a lot of current press around that the potential that automation and AI diminish job prospects, new studies show that AI could in fact lead to the creation of around 97 million new jobs by 2025.

The World Economic Forum's report, foresees a scenario where the creation of "jobs of tomorrow" will outpace the number of jobs that are expected to be lost. While it seems fairly certain that low-skilled positions may be threatened by AI-driven automation, it is important to recognize that new roles requiring different types of skill sets may begin to emerge; ones of which necessitate training and development programs. AI will likely be highly valuable in the manufacturing sector, optimizing processes, facilitating product development, improving logistics, enabling predictive maintenance, and supporting robotics.

Where AI is more likely to replace jobs, is with those involving tasks such as copying, pasting, transcribing, and typing. It has already surpassed human performance in areas such as medical diagnosis, speech translation, and accounting. However, human judgment remains irreplaceable, and AI represents just the latest stage in the ongoing evolution of the workplace. The responsibility of determining what knowledge and skills should be imparted to AI will always rest with humans. While AI can assist in problem-solving, complex strategy development, and critical thinking in intricate scenarios still require human intuition. Ultimately, humans will make the final decisions.

Upskilling Will Be Critical

One potential remedy involves intensifying subsidized training initiatives for occupations that are less susceptible to automation or AI, and directing displaced workers towards these programs. As artificial intelligence (AI) continues to advance and reshape industries, concerns about job displacement have been at the forefront of discussions. However, recent data and reports indicate that upskilling workers for AI can play a pivotal role in not only mitigating job losses but also unlocking new and diverse job opportunities.

It is crucial to invest in upskilling initiatives that empower workers with the necessary skills to thrive in the evolving job market. Upskilling programs can help individuals adapt to the changing demands of AI-driven industries and ensure their continued employability.

Job Creation and Transformation

While AI adoption may lead to some job displacements, it also brings forth a wave of job creation and transformation. A study by McKinsey Global Institute estimates that as early as 2030, AI could contribute to the creation of 20 million to 50 million new jobs globally. These jobs will encompass a wide range of sectors, including healthcare, technology, finance, and more.

Emerging Roles and Skill Sets

As AI technology evolves, new roles and skill sets are emerging, demanding a proactive approach to upskilling. Occupations that require a blend of technical expertise and uniquely human skills, such as creativity, critical thinking, and emotional intelligence, are expected to witness significant growth. AI-related roles like AI specialists, data scientists, machine learning engineers, and robotics engineers are becoming increasingly essential in various industries.

Building Resilient Workforces

To prepare for the AI-driven future, organizations and governments must prioritize upskilling initiatives. By investing in comprehensive training programs, workers can acquire the skills necessary to work alongside AI technologies and leverage their potential. Upskilling employees for AI enables individuals to adapt, take on new roles, and contribute to the development and implementation of AI systems, ensuring a smoother transition and reduced job displacement.

Collaboration between Stakeholders

Creating successful upskilling programs requires collaboration between governments, educational institutions, and businesses. Governments can establish policies and provide funding to support reskilling initiatives. Educational institutions should adapt their curricula to incorporate AI-related subjects and promote lifelong learning opportunities. Businesses must actively invest in upskilling their workforce, recognizing that their employees are their most valuable assets in the AI era.

The Role of Continuous Learning

Upskilling is not a one-time event but a continuous process. As AI technology advances, workers must embrace a culture of lifelong learning to stay relevant. Micro-credentialing, online courses, and workplace training programs are essential tools that enable individuals to acquire new skills and stay updated with the latest AI developments. Embracing a growth mindset and fostering a learning culture within organizations will be instrumental in building resilient workforces.

Supporting Upskilling: The Role of Recruiting Firms

Recruiting agencies play a crucial role in connecting job seekers with employers and can contribute significantly to supporting upskilling initiatives in the AI era. Tech recruiting company, Edison & Black is comitted to supporting offer personalized guidance and career counseling to job seekers interested in upskilling for AI-related roles.Our team further plays a key role in assessing candidates' existing skill sets, identifing areas for improvement, and recommending suitable upskilling programs or training courses. By understanding the evolving job market and the skill requirements of AI-driven industries, recruiters can provide valuable guidance and resources to both candidates and employers. Here's how recruiting agencies can support upskilling efforts:

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