AI will eliminate 1.4 crore jobs in the next 5 years: Future of Jobs in the Age of AI

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Wherever you are and whatever job you are doing, if you sleep peacefully every day without worrying that your job will remain the same, then you are not ready for this change. Wake up! Many of the jobs you are working today will disappear in the next 5 years.

The impact of AI on employment is significant, transforming industries and redefining job responsibilities. Automation technologies driven by AI are progressively taking over tasks, resulting in job displacement within sectors.

This is the time to wake up. If you are looking for a job, giving an interview or have been doing a job for 10-15 years, then turn this change into your advantage. Because in the new era, only those employees will survive who have learned new skills.

17 lakh jobs lost from 2000 to 2023

AI has eliminated about 17 lakh jobs in India since 2000. These jobs have been replaced by automation. That is, the work that employees were doing is now being done by computers and machines.

These technologies will affect about thirty percent of tasks in many existing jobs. Nearly all will have to modify their work processes to make room for new technologies.

Employees must take the initiative to accommodate these changes by focusing on competencies that are less amenable to automation. Machines cannot replace human creativity, critical thinking, or emotional intelligence.

By 2030, the labor market is likely to undergo significant upheaval, requiring millions of workers to move into new positions.

However, there are challenges to consider as well

  1. Job Security: The rapid deployment of AI can threaten jobs, especially in sectors like manufacturing, where automation is most prevalent. Organizations need to prepare for this disruption by redesigning job roles or integrating AI training to ensure employees can work alongside AI.
  2. Skill Evolution: The demand for new skills is accelerating. Continuous learning is crucial, emphasizing upskilling in AI literacy and problem-solving to ensure teams remain adaptable and competitive.
  3. Privacy and Ethical Considerations: As AI becomes more integrated into workplaces, concerns over data privacy and ethical decision-making will continue to intensify. Strict data protection guidelines and ethical standards are essential to ensure responsible AI use.

Future of Jobs in the Age of AI

The Future of Jobs Report 2023 released by the World Economic Forum gives information on how jobs are being affected by the impact of AI.

  • Nearly a quarter of jobs (23%) worldwide will change in the coming five years.
  • Across 45 economies, involving 673 million workers, 69 million new jobs will be created, while 83 million jobs will be lost. This will result in a total loss of 14 million jobs (about 2% of current employment).
  • New job opportunities will increase due to investments in green transition and consumers’ awareness of environmental protection.
  • Roles related to new energy, solar installation, sustainability and environmental protection will be in greater demand, adding about one million jobs.
  • While the application of AI continues, there has been a shift in attitudes.

Conclusion

There are a list of jobs which may get replaced by AI till 2030 because of repetitive tasks, no creativity, etc. Such jobs include drivers, copywriters, graphic designers, etc.

Among the current employee counts from the workplace, there are around 70% jobs expected to be replaced by AI till 2030 as per the report from Forbes.

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