The Impact of AI on the Job Market – Advantage and Disadvantage of AI tools
Everyone is talking about AI these days, and since 2021, it has been making its way into every marketplace. Some people are worried about losing their jobs, but AI cannot replace all jobs entirely.
AI-Powered Content Creation
Before AI, people hired freelancers for small tasks like creating social media descriptions and content writing. However, nowadays, AI-powered assistants like ChatGPT and Google Bard can do these tasks effortlessly.
Editing videos using AI for podcasts and speeches. Speech recognition and auto-trimming were time-consuming before AI, but now it’s just a matter of a few clicks.
AI Tools for Content Creators
Adobe has introduced impressive AI tools like Adobe Firefly, Generative Fill, and Generative Expand. However, these tools are only available for Adobe users and require additional knowledge to use effectively. AI is not replacing content creators but helping speed up their processes.
Atif provides comprehensive video guides on AI-powered tools for UI/UX designers, showcasing top features and test results. Designers can broaden their skill set and stay up-to-date with technological advancements.
Percentage of people lost the Job In USA
The exact percentage of people who have lost their jobs in the USA because of AI is unknown, but estimates vary from 9% to 47%. This is a vast difference, and AI will likely take over a few of their tasks for many people, freeing them up to do more creative work.
According to a recent Challenger, Gray & Christmas report, AI was responsible for 3,900 job cuts in May 2023, or roughly 5% of all jobs lost. This is a relatively small number, but it’s important to note that AI is still a relatively new technology, and its impact on the job market will likely grow.
Another study by the McKinsey Global Institute found that up to 800 million jobs worldwide could be lost to automation by 2030. The study also found that the US is likely to be one of the hardest-hit countries, with up to 47% of jobs at risk of being automated.
It’s important to note that these estimates are just that: estimates. The number of jobs lost to AI is difficult to predict, and it will depend on various factors, such as the rate of technological development, the pace of adoption by businesses, and government policies.
However, there is no doubt that AI has a major impact on the job market. Businesses increasingly use AI to automate tasks, leading to job losses in some industries.
It’s important for workers to be aware of the potential impact of AI on their jobs and to take steps to upskill and reskill themselves to remain competitive in the changing job market.