AI Reshaping Job Markets Amid Downsizing Concerns
A new survey conducted by the World Economic Forum indicates that 41% of companies worldwide are planning to downsize and automate various tasks using artificial intelligence over the next five years.
The survey, which included responses from hundreds of large companies, revealed that 77% of employers aim to reskill existing workers to work alongside AI technologies between 2025 and 2030.
AI’s Mixed Impact on Job Landscape
Unlike previous years, the report acknowledges a potential decline in job numbers due to technology like AI. The WEF commented, ‘Advances in AI and renewable energy are reshaping the labor market — driving an increase in demand for many technology roles while driving a decline for others.’
Positions at Risk
Certain job categories such as postal service clerks, executive secretaries, and payroll clerks are on the chopping block. Conversely, there is a growing demand for AI skills, with 70% of companies planning to hire workers skilled in AI tool design and 62% looking for individuals adept at collaborating with AI.
Expert Opinions on AI and Employment
Experts remain cautious yet optimistic about AI’s role concerning employment. The White House Council of Economic Advisers noted a lack of evidence indicating a negative impact on overall employment due to AI. ‘Technology destroys but also creates,’ commented economist Nick Bunker from the Indeed Hiring Lab. ‘There will be new jobs that come about.’
Conclusion
As companies ramp up their use of AI, they face the dual challenge of integrating this technology while preserving employment — a balancing act that will define the future workforce.
