The fear of artificial intelligence (AI) replacing human jobs is not new. However, recent advancements in the field of AI have intensified these fears. A report by PwC states that up to 30% of jobs in the UK could be at risk of automation by the mid-2030s. Moreover, a survey conducted by Gartner found that 85% of executives believe that AI will significantly change the way work is done in their organizations.
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However, experts believe that AI will not completely replace human jobs, but rather augment and enhance them. As per a report by the World Economic Forum, while AI has the potential to displace 75 million jobs by 2025, it is also expected to create 133 million new jobs. Furthermore, a report by Accenture states that AI has the potential to add $14 trillion to the global economy by 2035.
“AI has the potential to revolutionize the way we work and live, but it’s important that we also consider its impact on employment,” says John Koetsier, a contributing editor at Forbes. “The truth is that AI will likely create more jobs than it replaces, but it will also change the nature of work and the skills that workers need.”
Moreover, the integration of AI in the workforce requires a significant investment in reskilling and upskilling the current workforce. As per a report by the McKinsey Global Institute, around 375 million workers will need to switch occupational categories and learn new skills by 2030.
A study by MIT Sloan Management Review and Boston Consulting Group found that companies that embrace AI and focus on upskilling their workforce are more likely to see a positive impact on their bottom line. “Companies that invest in AI and reskill their employees will reap the benefits in the long term,” says Michael Chui, a partner at McKinsey Global Institute. “Those that don’t risk being left behind.”
In conclusion, while the fear of AI replacing human jobs is not unfounded, it is important to understand that AI has the potential to augment and enhance human jobs. By investing in reskilling and upskilling the current workforce, companies can leverage the power of AI to drive growth and create new job opportunities. As futurist and author, Kevin Kelly, says, “AI will make most jobs better, easier and more productive.”