Fig.1 Self-driving truck AI visualization
As we move further into the age of artificial intelligence (AI), it's becoming increasingly clear that this technology will have a profound impact on the job market. Unlike earlier types of automation, which tended to affect more routine, middle-skill jobs, AI has the potential to impact virtually every occupational group. This is because AI is a very different technology that can be applied in a wide range of ways, from automating repetitive tasks to performing complex analysis and decision-making.
According to research by Brookings Institute [1], better-paid, white-collar occupations may be the most exposed to AI, along with some positions in agriculture and manufacturing. Industries such as business, finance, and tech are also likely to be heavily impacted by AI, as are natural resource and production industries. This means that individuals working in these fields may need to adapt their skills and knowledge to remain competitive in the job market.
One thing that's certain is that AI will substitute some well-paid human prediction work. This means that jobs that involve predicting outcomes based on complex data sets, such as financial analysis, marketing, and risk assessment, may be at risk of being automated. However, it's not yet clear exactly how these changes will play out in the labor market, and whether AI will lead to increased inequality and wage polarization as previous waves of automation did.
What is clear is that AI is different from earlier types of automation, and will affect a different part of the workforce. As such, it's important for individuals, organizations, and policymakers to start preparing for the impact of AI on the job market. This means investing in education and training programs that help workers acquire the skills they need to succeed in an AI-powered world. It also means investing in new technologies and business models that can help organizations adapt to the changing landscape.
If we take as an example the transportation, shipping and warehousing data, we notice that these jobs represent around 8-10% of the total number of people employed in the EU and USA while they are at high risk of being impacted by AI and automation. As self-driving technology is gradually becoming more common, we could soon start to see self-driving trucks in our roads, which would mean millions of people could be left unemployed. Thus, policymakers need to start thinking about how they can support workers affected by AI. This might include creating new policies to make sure AI improves civilization, which may include well-defined boundaries, help workers transition to new jobs, providing financial assistance to workers who lose their jobs due to automation, or implementing regulations to ensure that the benefits of AI are distributed fairly across society.
Ultimately, the impact of AI on the job market is a complex issue that will require a multifaceted response. While it's impossible to predict exactly how these changes will play out, one thing is clear: the age of AI is here, and we need to start preparing for it now. By taking action today, we can help ensure that the benefits of AI are realized by all, and that the future of work is one that is both productive and equitable.
[1] Muro, M., Whiton, J., & Maxim, R. What jobs are affected by AI? Better-paid, better-educated workers face the most exposure. Brookings Institution (November 2019).
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