Are you curious about the impact of AI on the job market? We've analysed the industries that will be most and least impacted by AI in the coming years. If you're looking to start or switch careers, this information could be valuable to you.
Jobs Most Impacted
1. Finance and banking
Banks have started using AI in their businesses. They use AI for management and revenue generation. AI can help monitor transactions and give financial advice. The finance division might see job cuts, job creation, and increased efficiency due to AI. In China, it is predicted that 23% of jobs in the financial sector will be replaced by AI.
2. Media and marketing
AI might write 90% of news articles in 15 years. AI tools like ChatGPT are used by reporters to write news stories, although they can sometimes contain false information. Media companies like BuzzFeed use AI to personalize content and enhance quizzes. In marketing, AI is widely used, and the number of marketers using AI has significantly increased. They expect to increase its usage even more in the future.
3. Legal services
Lawyers and legal professionals use AI to help with tasks like creating contracts and developing deposition questions. AI can make legal services more accessible to those who can't afford them. Some legal service providers already use AI to read contracts faster and more accurately than humans.
Jobs Least Impacted
1. Manufacturing and factory workers
Automation has been happening in this industry for a while. Elon Musk has introduced autonomous robots called Tesla Bots to replace humans in dangerous and repetitive jobs. AI is expected to replace millions of manufacturing workers. Robots increase productivity and efficiency in factories.
2. Agriculture
Automation in agriculture is more common in larger farms. Small farms often lack the resources to invest in machinery. The majority of farms in the U.S. are small family farms that make up a significant portion of the agricultural sector. However, AI research is funded in areas related to agriculture.
3. Healthcare
Some administrative tasks in healthcare can be automated, but AI is unlikely to replace actual healthcare providers. Patients prefer human interaction and compassion in healthcare. Jobs like medical transcriptionists, medical records, and health information technicians are more likely to be automated than healthcare providers. AI attempts to create an AI version of psychologist Sigmund Freud have not been successful.
Lingard
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