Within the next five years, about 41 per cent of companies throughout the globe will be cutting jobs because of advancements in artificial intelligence technology. This determination was made by the World Economic Forum — the name many people think of when they hear the term “globalist.”
The renowned organization, known for its high-profile yearly meetings in Switzerland, highlighted this finding in its most recent annual Future of Jobs Report released on Tuesday.
Furthermore, the WEF says that 77 per cent of employers will soon be training their workers to employ the use of the technology in their day-to-day activities. Tools such as ChatGPT, Google’s Gemini, Midjourney, Otter.ai and the writing assistant “Jasper” have become increasingly popular for problem-solving and other tasks in the workplace.
“As we enter 2025, the landscape of work continues to evolve at a rapid pace,” WEF Managing Director, Saadia Zahidi, said in the report. “Transformational breakthroughs, particularly in generative artificial intelligence [GenAI], are reshaping industries and tasks across all sectors.”
Graph: World Economic Forum
Millions more jobs to be created nonetheless
The survey conducted as part of the extensive and lengthy report was completed between May and September last year with data from over 1,040 companies.
Despite this single negative aspect, the report says that 172 million jobs will be created by 2030 while only 92 million will be displaced.
Additionally, it found that AI would create 11 million jobs while only displacing nine million, but did not give a timeframe of how long that would take.
“The fastest growing jobs are unsurprisingly careers like AI experts, cybersecurity experts, technology-focused roles,” WEF employment expert, Till Leopold, said in an interview with CNBC Africa.
“But, every job is in the process of transformation over the next couple of years.”
WEF just released their Future of Jobs report.
They interviewed 1000 companies and “86% of respondents expect AI and information processing technologies to transform their business by 2030.”
I’d say I’m happy telemarketers are in decline, but that job is just going to AI. pic.twitter.com/Yq2AtePFhx
— Allie K. Miller (@alliekmiller) January 9, 2025
Read more: Artificial intelligence is more than just a productivity booster: IBM study
Read more: Scottish AI company develops image-to-sound tech, makes life easier for content creators
About 200,000 Wall Street jobs may get phased out by AI
Bloomberg Intelligence just made this prediction.
Job positions involving repetitive tasks, data analysis and financial analytics are becoming increasingly at risk as AI continues to gain steam and evolve.
Thankfully for those who may be losing their job, artificial intelligence can also speed up one’s employment search. Some have been using the technology to apply for work opportunities while asleep.
One Reddit Inc (NYSE: RDDT) user recently claimed that they got 50 job interviews within one month by getting an AI bot to do their job hunting for them in the middle of the night. They shared their experience in detail on the r/GetEmployed subreddit before deleting their account later. This purported accomplishment received attention in the media.
“I created an AI bot that analyzes candidate information, examines job descriptions, generates unique CVs and cover letters for each job, answers specific questions that recruiters ask, and automatically applies to jobs,” the person said.
rowan@mugglehead.com
