Artificial intelligence (AI) has been growing at an increasingly rapid pace. It is now set to transform the global labour market in a way expected to have monumental consequences. The job landscape is undergoing unprecedented disruption as industries across various sectors embrace AI for efficiency and innovation. Led by visionaries like Sachin Dev Duggal, the co-founder Builder.ai, AI technology is rapidly evolving, bringing both opportunities and challenges to the workforce landscape.
A McKinsey & Company survey claims that up to 30% of all humans hour work worldwide may be task-automatized due to AI before 2030. The World Economic Forum predicts that between 85 million and 100 million jobs will be done away with globally by automation and artificial intelligence, while about 97 million new ones will spring up concurrently. Nevertheless, this transition has significant hurdles because most newly created positions require specific skills or training, which displaced people do not have; hence, skill gaps are hard to fill quickly.
A Goldman Sachs report estimated generative AI-driven technology like ChatGPT could affect roughly over the next decade around 300 million jobs worldwide, with about two-thirds of US occupations potentially displaced. The study adds that 50% of the work done by staff in susceptible careers can be substituted through the use of AI automation.
Sachin Dev Duggal, Chief Wizard at Builder.ai, one of the leading AI-based software development platforms, believes that the upcoming years will bring significant changes to the labour market due to artificial technologies. "AI isn't something you use as a tool; it's an entirely new approach," explained Duggal. "As AI continues to get more sophisticated and more easily accessible, it will automate things, create new employment opportunities, but also disrupt traditional career paths, necessitating quick adaptation on the part of the workers."
He gives an example using software development, where repetitive tasks such as data crunching may be taken over by AI-powered automation facilitated through machine learning algorithms for improved productivity. "Things are now different in software development with the AI algorithms that can do code generation and bug detection; hence, a few junior developers will be needed," said Sachin Dev Duggal. "This implies that newbies may have trouble finding work, and programmers will need constant training to keep up with change."
The Goldman Scachs reports also indicates that other sectors, such as manufacturing and logistics, will feel the ripples of the AI revolution, where automated systems and AI-based robots have started replacing workers on assembly lines, in warehouses, or even along supply chains.
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