Artificial intelligence will boost up job-market after the transition period: certainly not a destroyer
By 2025, Artificial intelligence will create more job opportunities, than it snatches, says a report from “Gartner”. Innovation is likely to take place, to be considered a spontaneous process since the dawn of human civilization. Many epoch-making innovations in the past had ransacked the job market first, though showed a quick recovery afterward, likely to experience the same scenario even this time as per many researchers.
All the industries won’t get hit evenly by the job loss, on the contrary, the job loss will vary by the type of the industry. The public sector, education, and healthcare will show us a continuous upward-tending job demand, against a reverse scenario of downward job demand in the manufacturing industry, fears most of the market analysts.
The market analysts and researchers are expecting to have more than two million new jobs opening by 2025, indeed a positive signal. Job-loss is most likely to experience what we have discussed in our previous article, but we can say this is a temporary situation that can be balanced with the reskilled training program in advance to let the dropped employees to coup up with the changed situation, of course, along with many more precaution steps.
It’s a brave new world ahead of us. Obviously, hard days are very near. Let’s make the fear is the key to unlock the solution. In this topic, we are sure to find out that the rise of AI will create and set a new course to the job market to its highest potential, after creating a short-lived landslide first.
So, we are expecting positive growth in the job market. But, by 2025, machines are likely to perform more current tasks than human workers compared to 70% being performed by human workers as of today. To make the balance and maintain steady job growth, leading companies all over the globe are making the contingency plan to fight back with the situation.
Companies are trying to reskill or up-skill their workforce, with few to train more than half of their workforces while rest to train up-skill only the key employees. Nearly 30% of all the companies, across the globe, have taken a bold decision to extend their workforce, while 50% are cautious enough to shrink their workforce and nearly 20% are thinking to depend upon automation to maintain the steady growth.
However, this article is trying to establish and stand the fact that the rise of artificial intelligence will not create havoc in the job market permanently, though we must face a short transition period of job elimination. As per the famous accountancy firm PwC, there will be a generation of 7.2 million new jobs between 2017 and 2037, though near about 6 million jobs to be displaced.
Let’s find out how the PwC is so certain to speculate on new job creation.
Few facts why the rise of artificial intelligence will create more job vacancies than it claims!!!!
More profit-gain leads to increase job opportunities:
If companies get AI implemented effectively, performance-graph will rise that ensures more profit. More profit can make the policymakers go for bold decisions. Companies can think to expand the business means investment in more diversified fields and increase in the workforce.
AI can boost up marketing and sales: through the implementation of artificial intelligence, companies can boost up their marketing and sales wing. AI can help companies to redefine sales and marketing more effectively through the development of smart-database. Effective, smart, and accurate marketing research will raise the profit graph, hence more expanse of the business will be ensured. So, more job vacancies are well assured.
Artificial –Intelligence & its maintenance:
AI can well boost up the marketing and research section, sales, customer service, etc. Even a few companies are thinking one step ahead to implement Artificial Intelligence in the high-risk prone crucial system. One by one company is taking the positive decision to embrace AI to facilitate their business.
So, the maintenance of the AI system is in high demand. Companies are developing the support team by recruiting AI developers and engineers to support the AI-related systems, hence new types of job vacancies are increasing.
Automated transportation: Gift of AI:self-driven transportation is not only limited to Sci-Fi movies, but semi-automated cars have also become reality now. The rise of AI has ensured a large profit and business possibilities in the automated transportation sector.
The futuristic technology has already attracted big players like “Google” and “Uber”. These companies are investing millions of dollars in automated self-driving technology. So, no need to say, within a couple of years there will be plenty of job vacancies for AI & machine learning technicians.
Education industry: the rise of Artificial intelligence:
The education sector is transforming itself towards e-learning, the gift of AI. The education sector is grabbing futuristic technologies like “smart-content”, “personalized-content”, “e-learning Apps” and many or data-driven software, taking the education beyond the old classroom concept. The participation of AI-driven applications in the education sector will increase more than 47% by 2025, says an “e-school” report. So, the industry will hire more professionals in the field of AI and machine-learning, near about two million jobs opening as per the PwC report.
AI in banking and financial services: with the increase of digital transactions, banks, and financial sectors need to implement a futuristic security system to block frauds. With the rise of AI and machine language-based applications, banks and the financial sector easily track down fraudulent activities and security breaches. No need to say, the dependency upon AI-based App, is increasing exponentially every day in the banking and financial sectors, as well as the job vacancies.
Digital Assistance platform and AI: the Bixby, Siri, Alexa, Google assistance, and many more digital assistance applications are now inseparable parts of our daily life. Our daily routine and schedule are quite dependent on all these AI-driven applications and will be more dependent in the coming days.
The IT titans like Samsung, Amazon, and Google are injecting billions of dollars into these applications, improving the accuracy and performance. The global market of Virtual-assistance will cross $20 billion by the end of 2025, says a report from Zion market research, quite assuring news of more job vacancies.
Embrace AI as the ultimate technology.
So, the rise of AI will open a new era in our civilization. There will be a drastic change in our socio-economical system, but it will be a quite positive change that AI will ensure. Certainly, we cannot blame AI and avoid implementing “Artificial Intelligence” in our civilization.
Rather if we change the angle of our analysis, we will see the positive impact of AI in our daily life, certainly an uplift in every aspect. If we plan carefully to reskill and enhance our skill sets, the impact on the job market during the transition period can be eased. AI is our future, the creator of a new era, certainly not a destroyer in the true sense.
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