AI tools like ChatGPT created waves in the business world and threatened a few jobs. There is no denying that several industries are embracing the advantages of AI. From cost savings to increased efficiency, companies lean towards Artificial Intelligence to improve their bottom line.
However, many AI jobs are already available on the market, but other industries are also reaping their maximum benefits. As per the report of PWC, the productivity of different sectors will increase by 40% by 2035.
So, this article will discuss which 4 industries are at high risk of being replaced by AI. It will help you prepare yourself for the upcoming business scenarios.
The Massive Impact of AI on the Current Job Market
The effect of AI on different sectors has already become a hot topic, and many are wondering which industries will get the hardest hit. Well, there are four sectors that will be highly affected by AI, including Media and Marketing, Banking and Finance, Legal Services, and Manufacturing.
As per a survey of DataProt, the AI industry will be worth beyond $15 trillion by 2030. So, you can assume the severity of its impact on different business sectors. However, you can opt for an Artificial Intelligence career if you need an ever-demanding job.
AI has completely revolutionized the entire job market and has made people worried as well. Apart from the sectors most-affected other industries will receive its benefits like healthcare, customer services, transportation, trading, art and design sector, etc.
Now, not only companies but people also realize that AI can make our lives safer, easier, and more sufficient But, it may lead to increased unemployment, social unrest, and income inequality. Therefore, it will be helpful if we start thinking about policy measures and job retaining that can help reduce the negative impact of AI and automation.
4 Sectors that AI Will Most Likely Replace in Coming Years
AI scientists had long before said that it would bring a massive change to the business market. It will minimize human intervention with its automation, leading to increased productivity. But it has a flip side which creates tension among employed people.
Now, with automation, it is taking over the job market rapidly. So, if you wish to know which sector will get the massive effect, you have landed on the right page. Here, we will reveal the 4 industries that must be ready to face the change that AI will create in the future.
1. Manufacturing
You already know the impact of automation technology in the industry of production or manufacturing. Earlier, manufacturing companies were looking for ways to enhance their work efficiency and streamline business processes that AI brought to their table. Therefore, we have seen that people are only thinking about Artificial Intelligence careers to be on the safe side.
The use of robotics and machine learning has become crucial in factories where machines are performing every task. It resulted in job losses, and many workers felt helpless. A Chinese factory in Dongguan City replaced 90% of its workers with machines and experienced increased productivity.
The AI can also reduce the repetitive tasks that are dangerous for humans in the factory. It helped them concentrate on other creative and complex tasks.
2. Media and Marketing
Media and marketing jobs, including advertising, journalism, technical writing, and content creation, will experience the impact of AI. Therefore, many people look forward to doing Artificial Intelligence courses to handle the effect without losing their jobs. As AI can write, read, and interpret vast text-based data, it can produce content in seconds.
Now, many media-based companies are producing dozens of articles and advertisements with the help of AI. They are even using AI tools like ChatGPT to produce new forms of content.
3. Legal Services
Another industry that can get benefits from AI is the legal industry. Now, lawyers do not need to spend much time producing legal papers as AI can take care of it. The technology can effortlessly generate 10- to 20-page legal papers with a few inputs.
Therefore, people are searching for ways to become prepared for the automation future. The best part of AI is that it has the potential to raise questions about access to justice to make legal services available to everyone who cannot afford them.
4. Banking and Finance
The banking and finance sector is another area that AI will replace in the future. The job roles like financial advisors, financial analysts, market research analysts, etc., are at a high risk of losing jobs. This is because these individuals need to gather information to predict market conditions and business outcomes that require time and energy.
AI can read a vast database within a few seconds and generate possible outcomes. This cutting-edge technology can easily identify market trends and help individuals to make informed financial decisions. It will help you understand where the investors should invest their money.
Conclusion
The rise of AI will have a strong impact on the job market in the future. Therefore, it will be best to gain more knowledge about AI by opting for the best AI certifications to develop new competencies that can help you stay in the business market. Companies must also become proactive in their existing skills and train their workers so that they can adapt to the new technology.
