How Job Automation is Impacting the Workforce: Statistics and Insights

Artificial intelligence (AI) has been transforming the way businesses operate for years now, with many organizations implementing automation to improve efficiency, lower costs, and streamline processes. While the benefits of automation are numerous, there's also a significant downside: job loss.

According to a recent study by Zippia Research, AI could take the jobs of as many as one billion people globally and make 375 million jobs obsolete over the next decade. Here are some key insights from the study and other sources that show how job automation is impacting the workforce:

1. About half of all companies currently utilize AI in some fashion. This means that many workers are already interacting with automation in some way, whether through chatbots, automated customer service systems, or other tools.
2. As many as one billion people could lose their jobs to AI over the next decade, and 375 million jobs are at risk of becoming obsolete. These jobs are primarily in industries where soft skills aren't a significant part of the job description, such as manufacturing, customer service, and data entry.
3. Newer, better-paying jobs likely won't replace those lost to automation. Without widespread retraining and reskilling, ordinary people will have significant difficulty finding new work. These transitions could be as challenging as the U.S. shifts out of agriculture and manufacturing.
4. AI could create 97 million jobs and generate $15.7 trillion for the economy by 2030 while eliminating mundane tasks and helping workers enjoy more creativity. While there are concerns about job loss due to automation, there are also many potential benefits to implementing AI in the workplace.
5. Between 400 million and 800 million individuals could be displaced by automation and need to find new jobs by 2030 around the world. If displaced workers are reemployed within one year, it could lift the overall economy. However, if it takes workers years to find work, unemployment could rise, and the economy could dip.
6. By 2030, 45 million Americans could lose their jobs to AI automation, representing about one-quarter of the workforce. This is an increase from a 2017 estimate that signaled 39 million Americans would be automated out of their work.
7. Workers have mixed feelings about AI. 27% of employees have anxiety over the possibility of new innovations, robots, or artificial intelligence making their jobs obsolete in the next five years. However, 19% of workers agree that AI can help alleviate the drudgery of their jobs, and nine out of ten tech executives agree that AI-powered machines will handle mundane tasks, thereby freeing up workers to enjoy more creative work.

The future of work is changing rapidly, and it's clear that automation will play a significant role in that future. As AI becomes more widely used, businesses must consider the impact on their workforce and develop strategies to retrain and reskill employees for the jobs of tomorrow. With the right approach, AI can be a force for good, creating new jobs and unlocking greater efficiencies, while also ensuring that workers are prepared for the challenges ahead.

Sources:

https://www.zippia.com/research/artificial-intelligence-and-job-loss-statistics/

https://www.pewresearch.org/internet/2018/12/10/americans-fears-about-automation-are-particularly-pronounced-among-low-skilled-and-older-workers/

https://www.mckinsey.com/featured-insights/future-of-work/what-jobs-are-today-at-risk-of-being-automated

https://www.cio.com/article/3564514/the-pros-and-cons-of-ai-in-the-workplace.html

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