Demand for AI and machine learning specialist will increase: By 2027, machines will do 42% work,

Demand for AI and machine learning

In the coming five years, most of the work related to business will be done by machines. That’s why demand for AI and machine learning specialist will increase. And the use of AI in companies will increase, as well as women and youth will get priority in jobs. Many such important facts have come to the fore in ‘The Future of Jobs Report 2023’. The World Economic Forum has recently released. If you want to know about the future job trends then the facts of this report will prove to be helpful in your career. In this report, a survey was conducted on 803 companies around the world, in which it has been told that there will be major changes in the workforce in the next five years. For example, technology will change the way manpower works. 85% of organizations will use new technology and also strengthen their digital reach.

The expansion of technology will strengthen the career of professionals. Big data, cloud computing and AI features will be used the most in technology. By the year 2027, 75% of companies will use these technologies. Apart from this, 86% of the institutions will be connected to digital platforms and apps. At the same time, 81 percent companies will adopt education and workforce technology.

Most companies will give priority to women

79% companies will give priority to women. Education and agriculture sector is growing continuously. In such a situation, you can find job opportunities in this field. Jobs in the education industry will increase by 10%. 30 lakh jobs of university and higher education teachers will be created. Along with this, 30 lakh new jobs will also come in the agriculture sector. Apart from this, by 2027, 79% of companies will give priority to women in the job, while 68% of companies will hire youth below 25 years of age.

Demand for clerk, data entry and cashier will reduce

By 2027, 75% of companies will start using AI. Apart from this, most of the work will be done by machines. Till now 34% work is being done by machines but in next five years 42% work will be done by machines. Technology related roles are one of the fastest growing job roles at the moment. For example, the demand for AI and machine learning specialists is on the rise and will accelerate in the future. Apart from this, the demand for Sustainability Specialist, Business Intelligence Analyst, Information Security Analyst and Solar Energy Installation and System Engineers will also increase. On the other hand, the demand for clerk, data entry and cashier will decrease.

Skills Required

In future, companies will invest in learning and on- the- job training. Analytical thinking and creative thinking are the most important skills right now. At the same time, employers also consider attention and leadership skills as important because they believe that these skills are very useful in making important decisions. Before 2027, 6 out of 10 employees will need training. Training increases the job satisfaction of the employees.

  • 75% Companies will adopt e- commerce and digital trade
  • 40% Companies will develop leadership skills in workforce
  • 40 Lakh new jobs will come for e- commerce specialist

How AI and machine learning will affect work

Automation will displace some workers. About 400 million workers, could be displaced by automation in the period 2016–2030. This reflects midpoint scenario in projecting the pace and scope of adoption. Under the fastest scenario, figure rises to 30 percent, or 800 million workers. In slowest adoption scenario, only about 10 million people would be displaced, close to zero percent of the global workforce.

The wide range underscores the multiple factors that will impact the pace and scope of AI and automation adoption. Technical feasibility of automation is only the first influencing factor. Other factors include the cost of deployment; labor-market dynamics, including labor-supply quantity, quality, and the associated wages; the benefits beyond labor substitution that contribute to business cases for adoption; and, finally, social norms and acceptance.

Benefit of AI and machine learning

In the same period, jobs will also be created. Even as workers are displaced, there will be growth in demand for work and consequently jobs. a range of additional labor demand of between 21 percent to 33 percent of the global workforce (555 million and 890 million jobs) to 2030, more than offsetting the numbers of jobs lost. Additional economic growth, including from business dynamism and rising productivity growth, will also continue to create jobs.

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