A recent report from the World Economic Forum (WEF) forecasts that advancements in artificial intelligence (AI) will displace 92 million jobs, equivalent to 8% of the global workforce, by 2030. However, the report also predicts a brighter outlook, with AI creating 170 million new roles, leading to a net increase of 78 million jobs, or 7% global job growth.
Job Displacement Across Industries
The report highlights that 41% of employers worldwide expect workforce reductions as AI continues to automate various tasks. Among the most at-risk roles are graphic designers and legal secretaries, as generative AI tools replace human-driven tasks in these fields.
AI’s growing capabilities are reshaping industries, with automation and big data playing pivotal roles. The displacement of jobs underscores the need for workers to adapt to rapidly evolving roles.
Fast-Growing Skills and Challenges
Despite the anticipated job losses, the demand for skills related to AI, big data, networks, cybersecurity, and technology literacy is surging. These areas are identified as the fastest-growing skill sets globally.
However, a significant skills gap remains among workers, posing a challenge to adaptation. Many workers may struggle to transition into new roles without proper training and support.
AI-Driven Job Creation
The report provides a positive perspective on AI’s potential to create opportunities. By 2030, AI is expected to generate 170 million new roles, outpacing the number of jobs displaced. This net growth reflects the creation of entirely new industries and the expansion of existing ones.
Workforce Retraining and Employer Plans
To address the shifts in the job market, 77% of employers are planning to retrain their workforce with AI-related skills. The focus on upskilling is seen as critical to preparing employees for the changing demands of the workforce.
The WEF emphasizes the need for a proactive approach, stating, “While technology will enhance productivity, it’s essential that workers are equipped with the skills to adapt. Without proper support, millions may face job displacement.”
Recommendations for the Future
The report stresses the importance of strategic policymaking, skill development, and retraining to ensure workers are ready for the future of work. A collaborative effort between governments, industries, and educational institutions is necessary to support workers through the transition.
“As AI reshapes the global workforce, a focus on skill development, retraining, and strategic policymaking will be critical to preparing workers for the future of work,” the report concludes.
The findings underscore the dual impact of AI: while it poses significant challenges to traditional job roles, it also offers immense opportunities for growth, innovation, and workforce transformation.
