A recent study by investment group Jarden has shed light on the potential impact of artificial intelligence (AI) on the job market. While previous technological revolutions mainly threatened manual labor jobs, the next-generation AI revolution is expected to have a more significant impact on white-collar jobs.
The study suggests that the media industry is particularly exposed to job losses, with North Sydney predicted to experience a higher proportion of job dislocation due to AI. However, the exact number and types of jobs that will be lost remain unclear.
The list of occupations at risk includes web developers, actuaries, advertising and marketing professionals, call center workers, debt collectors, and accountants. On the other hand, blue-collar workers such as concreters, handymen, railway track workers, cleaners, butchers, and fast food cooks are expected to be relatively safe.
According to the study, the inner rings around CBDs of capital cities, where many office workers are located, will be the most affected by the AI revolution. However, the study also emphasizes that being exposed to AI disruption does not necessarily mean that an occupation will be replaced. In some cases, AI can augment productivity, allowing workers to focus on higher-order tasks.
Other studies on the impact of AI suggest that higher-educated workers may be safer in the white-collar space, as tasks that require higher levels of education and complexity are less likely to be automated. However, Jarden’s research found a strong correlation between higher-paid workers and the level of disruption.
While the impact of AI on jobs is still uncertain, it is clear that productivity is at the heart of the excitement surrounding AI for companies and governments. The Australian government estimates that adopting AI and automation could add an additional $170 billion to $600 billion to the country’s GDP by 2030.
Although Australia may not have as many direct players in the AI industry as companies like Nvidia and Microsoft in the US, Jarden points out that local businesses such as Brambles, Telstra, Orica, and Goodman Group could benefit from the first wave of AI adoption. However, early adopters may initially face a hit to their earnings due to the additional investment required.
While the potential for job losses is a concern, it is important to recognize the opportunities that AI brings. By augmenting productivity and automating repetitive tasks, AI has the potential to revolutionize industries and drive economic growth. It is crucial for policymakers and businesses to find the right balance between regulating AI and embracing its transformative power.
The source of the article is from the blog be3.sk