In recent years, Artificial Intelligence (AI) has gained a lot of momentum. This is due to the fact that it has broken the human productivity bottleneck, minimised manual labour, and increased work efficiency. As a result, nearly every company in the world is expecting to use artificial intelligence (AI) or has already done so.
However, introducing AI could result in the abolition of many human workers. In reality, AI has outperformed humans in every way conceivable in fields like medical diagnosis, voice translation, and accounting. As a result, there is an overarching concern that AI will one day take up the majority of the world’s employment.
Around 2017 and 2037, over 7 million jobs will be replaced by AI, according to accounting company PwC. It would, however, result in the creation of 7.2 million employees, a net increase of 200,000 jobs.
The future of work will be determined by how effectively humans and AI work together to form augmented composite teams. An AI’s strengths include things like speed, precision, computing, and so on. Humans have abilities such as empathy, judgement, cognition, and so on. This role would bring together the talents of both AI and humans to improve market results. According to a study published by Accenture last year, new AI-human partnership applications could increase jobs by 10% by 2020.
Companies can do well if AI and machine learning algorithms can effectively exploit vast volumes of big data. It would also improve staff satisfaction and aid in the addition of new customers. As businesses scale up and expand, this will result in new employment openings, which will help the sector as a whole.
According to a recent World Economic Forum (WEF) survey, corporations’ full-time workforces will decline by nearly half in the next few years. About the fact that AI will remove jobs, it will generate a market for new ones. Humans would be required to verify, upgrade, and handle AI in order for it to perform properly.
AI is assisting companies in being more effective, particularly in areas such as customer support, automation, and other areas. Any businesses have gone so far as to incorporate AI into all of their critical processes. The market for AI maintenance workers will skyrocket as AI is introduced across all industries. To retain their programmes, businesses will need a significant number of AI developers and engineers.
In the coming years, the field of robotics will expand dramatically. Companies around the world are showing a lot of interest in AI-based robotics including stationary robots, non-humanoid ground robots, and fully autonomous aerial drones. This increased demand would undoubtedly result in a large number of work openings for AI robotics engineers.
If AI becomes more widely used in industries, there will be a need for AI facilitators that can help organisations develop their own AI ecosystems. This role would include creating automated environments as well as developing applications like virtual assistants. Employees would be able to function more efficiently in AI-based systems while maintaining stability, governance, data control, and enforcement.
Healthcare is one field where AI implementations have a lot of potential. According to PwC, it will be one of the largest beneficiaries of AI, with almost 1 million new work openings. AI-powered healthcare will be widely accessible and on-demand in the near future.
The gaming sector is one field where AI has a lot of potential. From game design and production to in-game activities and repair, AI plays a critical role for gaming firms that is paying off handsomely. Companies are likely to spend a lot more money on AI-based systems as virtual reality games become more common. As a result, game AI developer positions will be in high demand.
In the automated transportation market, AI is now playing a significant role. Companies like Uber and Google are pouring millions of dollars into self-driving vehicles and trucks powered by artificial intelligence. As this form of transportation becomes more common in the future, it will produce a large number of job openings for AI.
Companies in the financial services industry, such as banks, need AI engineers to create solutions that can detect and prevent fraud. They’re also monitoring transaction requests and detecting unusual behaviour with machine learning-based anomaly detection models. Aside from defence, artificial intelligence is increasingly being used in financial marketing. Financial institutions are working on technologies that can orchestrate consumer experiences on their chosen networks and at the appropriate times. As a result, the career outlook for AI in the Financial Services industry is very promising.
According to a recent report by PwC, the education sector is expected to gain almost 200,000 new jobs. The education sector is gradually moving into e-learning.
e-learning is short for electronic learning. AI is heavily used in concepts like smart content, customised learning, and other data-driven operations. According to an eSchool News survey, the use of AI in education will rise by 47.5 percent by 2021. To support this expansion, the industry would need to employ a large number of AI and machine learning specialists.
In the film industry, AI and machine learning have enormous promise. Companies that provide streaming services, such as Spotify, Amazon Prime, Netflix, and Hulu, are now incorporating AI into their business models. AI algorithms assist in suggesting media that matches the consumer’s tastes by detecting their online activity.