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What industries will be affected?

by SuperiorInvest

Artificial intelligence (AI) has been growing at an unprecedented pace in recent years and is being integrated into a number of industries. But its rapid growth has raised fears of job losses as many tasks previously performed by humans could soon be automated by artificial intelligence.

For example, IBM CEO Arvind Krishna told Bloomberg on May 1 7,800 jobs could be replaced in the company AI and automation in the next five years, representing around 30% of its workforce.

While AI has the potential to improve efficiency, increase productivity and reduce costs, the rapid progress seen with tools such as ChatGPT-4 – which is a huge improvement over its predecessor ChatGPT-3.5 — many people fear that their industry will be one of the hardest hit by the associated job losses.

ChatGPT and other large language models (LLMs) can already be used to perform various tasks such as smart contract code generationcommunity management, market analysis and more.

Research message from professional services firm Accenture in March referred to ChatGPT’s “explosive popularity” as “the first real inflection point in public acceptance of AI,” adding:

“Almost every job will be affected – some will be eliminated, most will be transformed, and many new jobs will be created.”

Research by Accenture found that 40% of working time across industries could be affected by LLMs and identified banking as the industry most likely to be affected as 54% of tasks were found to have a high potential for automation, closely followed by age insurance 48 years old. %.

The potential for AI to augment or replace tasks from various industries. Source: Accenture.

Substitution and synthesis

Cointelegraph asked Dr. Gary Marcus, an AI entrepreneur and author of the book Rebooting AI: Building Artificial Intelligence We Can Trustwhat he thought about the impact of AI on different industries.

Marcus suggested that commercial artists may be most at risk, which relates to branding, logos, advertising and graphic design – generally just art used for commercial purposes.

This is different from fine art, which involves paintings, sculptures and photographs – art that is more likely to be displayed in art museums such as the Louvre and is much more difficult for artificial intelligence to create.

Marcus played down the prospect of job losses in the short term, but noted that “in many cases, people will be working alongside machines, at least for [the] next few years.”

When asked how humans can best future-proof their jobs so that they are not replaced by artificial intelligence, Marcus said: “It’s hard to know for sure, but I think creative problem-solving skills and good critical thinking will remain valuable for a long time . “

The prospect of job losses due to artificial intelligence has also been closely watched by the World Economic Forum (WEF). On April 30, it released “The Future of Jobs Report 2023,” which predicts that clerical or secretarial roles such as bank tellers and data entry clerks would be most affected.

Top 10 Fastest Growing and Falling Jobs Based on a Survey of Organizations. Source: WEF.

Echoing Marcus, the report said higher-level skills such as analytical and creative thinking will be most in demand over the next five years, noting that the number one training strategy for companies with more than 50,000 employees is training their employees. employees to effectively use AI tools.

Job creation by AI

While the WEF report highlights that AI is likely to replace many jobs, it noted that it would also create jobs and only contribute to the overall trend towards automation.

Accenture made similar claims in its report, stressing that many of the “language tasks” that could be automated by the LLM could be “transformed into more productive activity through augmentation and automation.”

And working paper Released on March 27 by ChatGPT creator OpenAI and researchers at the University of Pennsylvania, it suggests that more hands-on professions such as chefs, mechanics and bricklayers are highly unlikely to be replaced by AI tools in the near future.

The paper also predicted that jobs that involve data or information processing, such as those in the healthcare industry, were much more at risk of automation because programming and writing skills are more in line with those of an LLM such as ChatGPT.

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While the healthcare industry will still require many people for more hands-on roles such as nurses and surgeons, providers are increasingly using AI to analyze patient data, so many healthcare workers involved in data analysis could have their roles automated.

Overall, the consensus seems to be that the jobs most affected in the next few years will be clerical and other administrative roles, and workers who are able to hone their creative/analytical thinking and become adept at using AI tools. their productivity will give them the best possible chance of not being replaced.

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