The AI-driven digital era has created fear and worry among people as they are concerned about losing their jobs.
The tech giants and ordinary users alike are engaged in debates about the potential job losses caused by AI.
A recent study by McKinsey Global Institute called "Generative AI and the Future of Work in America" sheds light on how Artificial Intelligence (AI) could impact the job market in the United States.
The report suggests that AI and changing consumer habits will lead to a significant shift in employment opportunities across various industries, requiring workers to find new jobs.
According to the report, AI has the potential to greatly replace jobs by 2023, especially those involving automation and repetitive tasks, like data collection.
This could make work more efficient but might lead to job displacements.
Several employment sectors are expected to be more impacted by this AI transformation, including office support, customer service, and food service industries.
The report estimates that around 12 million occupational transitions may be needed in the US alone by 2030.
This means that many workers will have to switch to different job sectors to adapt to the changes.
Low-wage workers are likely to be hit the hardest by these job shifts due to AI.
The report emphasises that they will need to acquire new skills to move into other occupational sectors.
However, the report clarifies that the job shift will not happen immediately; it will gradually enhance job opportunities in STEM (Science, Technology, Engineering, and Mathematics), creative, business, and legal professions.
STEM jobs are expected to see a 23 percent increase in demand by 2030.
In conclusion, the ongoing transition caused by AI is likely to create more job opportunities for roles that require complex problem-solving, critical thinking, creativity, and advanced technical skills.
Although there will be challenges, it also offers possibilities for workers to find meaningful and fulfilling roles in the changing job landscape.