The jobs most likely affected by AI | The Business | ABC News

ABC News (Australia)
5 Jun 202304:00

TLDRAI's impact on jobs is a double-edged sword, with potential to both create and displace employment. While AI could lead to the creation of 69 million jobs, it may also cause 83 million jobs to vanish by 2029. Sectors like telemarketing, education, insurance, and even the judiciary could be significantly affected. However, AI is not expected to entirely replace jobs but rather transform certain tasks, eliminating routine work and allowing humans to focus on more creative and innovative aspects. This shift is seen as a natural progression of technological evolution, akin to past industrial changes.

Takeaways

  • 📉 Australia's productivity has declined by 3.5% despite a record number of people in jobs, highlighting a productivity problem in the economy.
  • 🤖 AI proponents argue that it can assist with menial, routine, and administrative tasks, freeing up workers to focus on other activities.
  • 🚀 Technological revolutions, including AI, have historically led to the creation of new jobs while phasing out others, increasing overall productivity.
  • 🌐 Investment bank Goldman Sachs predicts AI will boost global workforce productivity by 1.5% and increase GDP by more than 10 trillion dollars in the next decade.
  • 📈 AI could create an estimated 69 million jobs but may also cause 83 million jobs to disappear over the next five years, according to a Statista analysis.
  • 🏆 Mandala has identified the top 10 jobs in Australia most likely to be impacted by AI, ranging from telemarketers to educators and judges.
  • 🔄 The report suggests that AI won't entirely replace jobs but will change some tasks involved, potentially ending boring work aspects.
  • 👩‍💼 Accountant Fiona Dixon's team exemplifies AI's impact, saving 2,700 hours in six months by automating quarterly report creation.
  • 💡 AI's ability to handle low-level tasks and assist in coding can lead to better productivity and focus on creative and innovative work.
  • 📊 A Microsoft survey indicates that 31% of Australian bosses believe AI will improve productivity, while 16% think it will reduce headcount.
  • 🤖 AI's presence in call centers is expected to grow, with AI becoming more natural and less detectable in interactions.

Q & A

  • What is the current issue with productivity in Australia?

    -The productivity in Australia has slumped three and a half percent in the year to March, indicating a productivity problem in the economy despite a record number of people in jobs.

  • What types of jobs are predominantly affected by AI?

    -Most of the jobs affected by AI are service-based, such as receptionists, accountants, lawyers, journalists, and educators.

  • How does AI proponents argue its impact on the workforce?

    -Proponents of AI argue that it can help with menial, routine, and administrative tasks, freeing up workers to do other things and potentially creating new jobs, similar to past technological revolutions.

  • What does Goldman Sachs predict about AI's impact on global productivity?

    -Goldman Sachs predicts that AI will deliver a 1.5% lift in productivity across the global workforce in the next decade.

  • How many jobs are estimated to be created or disappeared due to AI?

    -Statista analysis reveals AI could lead to the creation of an estimated 69 million jobs but also see 83 million jobs disappear in the next five years.

  • Which jobs are identified to be most likely impacted by AI in Australia?

    -The top 10 jobs in Australia most likely to be impacted by AI include telemarketers, educators, insurance workers, judges, and their clerks.

  • What is the report author's view on the complete replacement of jobs by AI?

    -The report author doesn't believe jobs will be entirely replaced by AI, but rather some tasks involved in those jobs will change, potentially leading to the end of boring work.

  • How has AI impacted the work of accountant Fiona Dixon's team?

    -AI has saved Fiona Dixon's team about 2,700 hours in the last six months by automating the creation of quarterly reports, allowing the team to focus more on technical and client service aspects.

  • What does the Microsoft survey reveal about Australian bosses' views on AI?

    -The Microsoft survey found that 31% of Australian bosses think AI will lead to better productivity, while 16% think it will reduce headcount, and almost 50% of workers are worried AI will replace their jobs.

  • How might AI change the call center industry?

    -Call centers are likely to be one of the biggest adopters of AI technology, improving understanding of customers and making interactions sound more natural, to the point where customers may not even realize they are talking to a robot.

  • What is the overall sentiment towards AI in the workplace?

    -The overall sentiment is that artificial intelligence in the workplace is here to stay, bringing changes to job roles and the nature of work, with a focus on enhancing creativity and innovation.

Outlines

00:00

🚀 The Productivity Paradox and AI's Potential

This paragraph discusses the current productivity paradox where despite a record number of people employed, Australia's productivity has declined. It highlights that most jobs are service-based and suggests that AI could help by taking over menial and routine tasks, thus freeing up workers for other roles. The paragraph mentions that AI has the potential to create new jobs and increase productivity, as predicted by Goldman Sachs, and that historical innovation has led to job creation. However, it also notes that AI could lead to the disappearance of some jobs, as analyzed by Statista.

Mindmap

Keywords

💡AI

AI, or Artificial Intelligence, refers to the simulation of human intelligence in machines that are programmed to think and learn like humans. In the context of the video, AI is presented as a transformative technology that has the potential to significantly impact various jobs by taking over routine and administrative tasks, thereby increasing productivity and efficiency. For example, AI is predicted to lead to the creation of new jobs while also causing certain roles to disappear, as seen with telemarketers and educators being identified as jobs likely to be affected by AI.

💡Productivity

Productivity is a measure of the efficiency of production, indicating the amount of output produced for a given amount of input. In the video, it is mentioned that Australia's productivity has slumped, highlighting a productivity problem in the economy. The proponents of AI argue that it can help improve productivity by automating menial tasks, thus freeing up workers to focus on more value-added activities. The script cites a prediction by Goldman Sachs that AI could boost global workforce productivity by 1.5% in the next decade.

💡Services

Services refer to the action of helping or doing work for someone, which is the primary basis for most jobs in the economy mentioned in the video. Service-based jobs include roles like receptionists, accountants, lawyers, and journalists. The video discusses how AI could impact service-based jobs by taking over routine tasks, which could lead to increased productivity and potentially shift the nature of these roles.

💡Technological Revolution

A Technological Revolution refers to a significant change or a set of changes in technology that has a profound effect on society and its structures. The video likens the current era of AI to a technological revolution, suggesting that just like in the past, new jobs will be created, some jobs will disappear, and others will become more productive with the integration of AI tools. This historical perspective is used to illustrate that technological advancements, including AI, often lead to both job displacement and creation.

💡Job Creation

Job Creation refers to the process by which new positions are established in an economy. The video highlights that AI could lead to the creation of an estimated 69 million jobs. It suggests that with the integration of AI, new roles and opportunities will emerge that did not exist before, much like how 60% of current jobs did not exist in 1940. This concept is central to the discussion on how AI will shape the future of work.

💡Telemarketers

Telemarketers are individuals who make phone calls to potential customers to sell products or services. In the context of the video, telemarketers are identified as one of the jobs most likely to be impacted by AI. This is because AI can automate the process of making calls and delivering scripted messages, potentially reducing the need for human telemarketers. The video implies that AI's ability to handle such tasks could lead to a decrease in demand for human telemarketers.

💡Educators

Educators are professionals who provide education, instruction, or training. The video mentions educators as being among the jobs likely to be affected by AI. While AI cannot replace the nuanced aspects of teaching, such as inspiring and mentoring students, it can automate certain administrative tasks, like grading or creating reports. The impact on educators suggests a shift towards a more technology-integrated teaching environment where AI tools may support educators in their roles rather than entirely replacing them.

💡Insurance

Insurance is a sector of the economy that provides financial protection against various types of risk. In the video, jobs in insurance are identified as being likely to be impacted by AI. This could be due to AI's ability to analyze large amounts of data to assess risk, automate claims processing, and personalize policy recommendations. The integration of AI in insurance could lead to increased efficiency and potentially change the nature of work for those in this sector.

💡Judges and Clerks

Judges and clerks are legal professionals who preside over court cases and assist in the administration of justice, respectively. The video suggests that these roles may be impacted by AI, likely due to AI's potential to analyze legal precedents, assist in evidence review, and automate certain clerical tasks. While AI may not replace the judgment and decision-making abilities of judges, it could change the way they prepare for cases and how clerks manage court records.

💡Boring Work

Boring work refers to tasks that are repetitive, monotonous, and often perceived as unengaging or uninteresting. In the video, the end of boring work is presented as a potential positive outcome of AI integration in the workplace. By automating routine and administrative tasks, AI could free up workers to focus on more engaging and value-added activities, such as creative problem-solving and client interaction, as exemplified by the accountant Fiona Dixon's team that now has more time to focus on technical and client service aspects.

💡GitHub Copilot

GitHub Copilot is an AI platform developed by GitHub that assists developers by writing code and suggesting solutions to programming problems. In the context of the video, it is mentioned as an example of how AI can handle low-level tasks and common problems, such as scaffolding new code and APIs. This illustrates how AI can act as a co-pilot for developers, enhancing their productivity and allowing them to focus on more complex tasks.

💡Call Centers

Call centers are organizations that manage a large number of incoming and outgoing telephone calls, often for customer service or sales purposes. The video suggests that call centers are likely to be one of the biggest adopters of AI technology. This is because AI can be used to understand and respond to customer inquiries more naturally and efficiently, potentially making it difficult for customers to distinguish between human and AI-operated call centers. The adoption of AI in call centers could significantly change the way customer service is delivered.

Highlights

The world is experiencing a technical revolution with AI.

Australian productivity has dropped despite a record number of people in jobs.

AI proponents argue it can help with menial, routine, and administrative tasks.

New jobs will be created, some will disappear, and others will become more productive with AI.

Goldman Sachs predicts a 1.5% productivity increase globally due to AI in the next decade.

AI could lead to a $10 trillion rise in GDP worldwide.

60% of current jobs didn't exist in 1940, showing innovation drives job creation.

AI could create 69 million jobs but may also see 83 million jobs disappear in the next five years.

Mandala identifies the top 10 jobs in Australia most likely to be impacted by AI.

AI won't entirely replace jobs but will change some tasks involved.

Accountant Fiona Dixon's team uses AI to create reports in less than a day, saving 2,700 hours in six months.

AI allows staff to focus more on technical and client service aspects.

Co-pilot handles low-level tasks and scaffolding new code and APIs.

31% of Australian bosses think AI will improve productivity.

16% believe AI will reduce headcount, while 50% of workers worry about job replacement.

Call centers are likely to be major adopters of AI technology.

AI can now understand and sound more natural in interactions.

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