DEATH OF JOBS!!!

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AI Replacing Humans

Dropbox laid off 500 employees which is about 16% of the company’s entire workforce and replaced them with AI. IBM pauses hiring and plans to replace 7,800 jobs in the next 5 years with AI. There is a pretty good chance your employer is planning to do the same. If not today, then tomorrow they might. Not trying to scare you, just telling you the truth.

According to a report by Accenture, large language models (LLMs) like GPT-4 could replace 40% of working hours. This means that many clerical, secretarial, or admin roles may soon see a rapid decline as automation takes over the job market. We are screwed ser! 🫡

_{report by Accenture}

The World Economic Forum's - Future of Jobs Report 2023 echoes this sentiment, predicting that these types of jobs will be among the first to be affected by AI. Also, Goldman Sachs predicts 300m jobs will be lost or replaced by AI in the upcoming years. Not shocking at all!

Jobs Are Dying

Technology has revolutionized the way we live and work. For good or bad, I don't know, but now we can do things that weren't possible 100 years ago. However, with every innovation comes the risk of disruption. In recent months, the rise of generative AI, particularly ChatGPT & Midjoruney, has led experts to predict the destabilization of hundreds of millions of white-collar jobs by 2025. This would mean mass job loss for the highly educated & skilled workers.

Automation has negatively impacted lower-paid workers until now. Generative AI will impact knowledge workers and creatives. According to a study by OpenAI, OpenResearch, and UPenn, the jobs most impacted will be:

• High wage
• Requiring college degrees or higher
• Routine, and repetitive work such as writing, programming, and information processing
• Individuals with Bachelor’s, Master’s, and professional degrees are more exposed

Moreover, exposure to generative AI is highest for salaries above $75k, and exposure to language models is highest for occupations that require higher levels of education. Exposure to image and language models is highest for more creative occupations. These findings suggest that the impact of generative AI will be severe, affecting the self-declared “best and brightest” among us. 💁

Companies are already implementing AI-powered tools and workflows, slowing or stopping hiring. Some experts believe AI will have an overall positive impact on the job market but then, on the flip side, there are others who think that generative AI will destroy entire industries, not just jobs. I don't know who is right or wrong but the purge is coming.

Conclusion

Businesses are not going to stop using AI. And they shouldn't. So what can you do as a professional who is at risk of losing your job to machines? Stay sharp & up to date. Learn technology with an open mind and use it to make your life easier. Focus on boosting creativity and your emotional quotient cuz, in a world filled with machines, that's going to be a superpower.

Welcome to the death of jobs!

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_{Not financial advice. For infotainment purposes only.}