The current headlines around AI are not reassuring if you’re considering your employment position and particularly not if you are trying to enter the job market, with the technology linked to fears that it is ahead of people in the queue for entry-level jobs.
In a complex economy it is not clear yet what is AI and what is hiring caution in an environment where economic growth is generally weak, but our latest study has revealed a more buoyant outlook across a number of sectors. This was led by professionals working in IT and manufacturing, who have predicted that they would see future job growth as AI evolves.
In IT, the report found that 50% of IT professionals felt that AI would cause job losses over the next five years, with 59% of those working in IT commenting that they were most likely to have seen job losses already.
Of the same group, 55% said that they thought AI would drive considerable job creation, with 72% adding that they were confident that their skills would remain relevant in their sector in the next five years.
In manufacturing, the sector was the least affected so far by AI, with 26% of those asked predicting job losses over the next five years. Thirty-seven percent believed that AI would create jobs over the next five years.
Whether directly affected – as with IT – or less impacted so far – as in manufacturing – it is clear that all professionals believe that AI will affect their sector, with some more positive than others.
What is apparent is that, in those sectors which are seeing more upheaval, there will be a need for re-skilling and upskilling. The broad influence of AI means that we will need to see an equally broad response to ensure that no one is left behind.
Looking at the wider economy, the study found that young adults (18 to 34 years) were notably more likely to have experienced job losses, with 49% affected compared to the average of 34%. The top three industries most affected by AI were tech, finance and customer service.
Job losses seem to be felt more strongly lower down the chain of command, as 32% were selected administrative/support staff and 18% entry level.
Young people seem to have experienced more job losses, and entry-level and support staff are most impacted. Although the sample doesn’t suggest the people in our sample are the same group, it might be people entering the job market who are disproportionately impacted.
Individuals aged 18 to 34 were significantly more likely (28% compared to the average of 18%) to believe that education would be impacted, although only 31% of those asked said that they expected AI to cause job losses in the sector over the next five years. Only 16% in education said that they expected AI to create jobs over the same period.
Education is one area where AI is not expected to have an impact on the volume of the workforce involved, but is likely to change how, rather than who is teaching. It is here that the workforce of tomorrow is likely to be most influenced by AI itself.
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