Title: Over 40% of Global Employers Predict Staff Reductions by 2030 due to AI Advancements
The World Economic Forum's latest bi-annual report sheds light on the future of businesses, drawing significant attention to generative AI. A majority of the 1,000 surveyed employers worldwide plan to train their current staff to work with AI, but 41% anticipate reducing their workforce due to AI automating tasks.
One of the report's main concerns is the skills gap. Employees lack the necessary competencies to adapt to technology advancements. AI, big data, cybersecurity, technology literacy, and creative thinking are among the top skills employers expect to see in high demand through 2025-2030.
The report paints a challenging picture for specific roles, such as graphic designers and legal secretaries, which might face a decrease in demand as AI begins to handle more knowledge-work tasks.
Generative AI tools can now produce elaborate graphics with minimal input, though its ethical implications are a topic of contention, as it essentially functions as a plagiarism tool.
Employers predict that there will be a net increase in job growth over the next five years, inspired by the benefits of AI verticals. The report predicts a 22% labor market transformation, implying the creation of 14% new jobs and displacement of 8% existing roles due to AI advancements.
However, the report emphasizes that productivity will increase globally as a result of AI, with both machines and humans performing more high-value tasks in less time. Although graphic designers may struggle with these advancements, other occupations may experience a similar growth in productivity.
Enrichment Data:
- Fastest-Growing Skills: Employers are prioritizing AI, big data, and cybersecurity, along with analytical thinking, creative thinking, resilience, flexibility and agility, multilingualism, and other socio-emotional skills.
- Declining Job Roles: The report predicts significant declines in positions like postal service clerks, executive secretaries, legal secretaries, graphic designers, cashiers, administrative assistants, and data entry clerks, among others, due to AI and technology evolutions.
As the World Economic Forum's report highlights, AI and technology literacy are among the top skills expected to be in high demand in the future. Embracing this tech revolution, employers plan to retrain their staff to work harmoniously with AI, recognizing that automation might lead to a reduction in certain roles.
