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

AI is poised to transform the workforce, with Goldman Sachs predicting a 1.5% productivity increase globally. While AI may create 69 million jobs, it could also displace 83 million in the next five years. Jobs in Australia like telemarketers, educators, and insurance workers may be significantly impacted. However, AI is not expected to replace jobs entirely but rather to automate mundane tasks, enhancing productivity and allowing workers to focus on more creative and innovative aspects.

Takeaways

• 📉 Australia's productivity has declined by 3.5% despite a record number of people in jobs, highlighting a productivity problem in the economy.
• 🤖 Proponents of AI believe it can assist with menial, routine, and administrative tasks, freeing up workers to focus on other activities.
• 🚀 AI is expected to create new jobs, similar to past technological revolutions, with Goldman Sachs predicting a 1.5% increase in global productivity and a $10 trillion GDP boost.
• 🔍 Statista analysis suggests AI could create 69 million jobs but also potentially eliminate 83 million in the next five years.
• 🏆 Mandala has identified the top 10 jobs in Australia most likely to be impacted by AI, including telemarketers, educators, insurance workers, judges, and clerks.
• 📚 The report author believes jobs won't be entirely replaced by AI, but rather certain tasks within them will be altered, not signaling the end of those jobs.
• 👩‍💼 Accountant Fiona Dixon's team exemplifies AI's impact, saving 2,700 hours in six months by automating quarterly report creation.
• 🤔 While 31% of Australian bosses think AI will improve productivity, 16% believe it will reduce headcount, and nearly 50% of workers are concerned about job replacement by AI.
• 🌀 The shift and transformation of roles due to AI is inevitable, but it can enhance creativity and innovation in job functions.
• 📞 Call centers are expected to be major adopters of AI technology, improving understanding and interaction with humans to the point of being indistinguishable from human communication.

Q & A

What is the current issue with productivity in Australia despite a record number of people in jobs?

The productivity in Australia, which is measured by what we produce for a given amount of hours worked, has slumped three and a half percent in the year to March. This indicates a productivity problem in the economy.

What is the potential impact of AI on menial, routine, and administrative tasks?

AI has the potential to assist with menial, routine, and administrative tasks, freeing up workers to engage in other activities. This is similar to the impact of technological revolutions in the past, where new jobs were created, some jobs disappeared, and others became more productive.

What does the AI tools modeling by Goldman Sachs predict for global productivity?

The AI tools modeling by Goldman Sachs predicts that AI will deliver a 1.5% lift in productivity across the global workforce in the next decade, contributing to a 7% rise in GDP worth more than 10 trillion dollars to the world's economy.

How many jobs existed in 1940 that don't exist today?

Around 60% of today's jobs did not exist in 1940, illustrating the impact of innovation and technological advancements on job creation.

What does the analysis by Statista reveal about the impact of AI on job creation and displacement?

Statista's analysis reveals that while AI could lead to the creation of an estimated 69 million jobs, it could also result in the disappearance of 83 million jobs in the next five years.

Which jobs in Australia are most likely to be impacted by AI according to Mandala?

Mandala has identified the top 10 jobs in Australia most likely to be impacted by AI, which include telemarketers, educators, people working in insurance, judges, and their clerks.

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

The report author does not believe that jobs will be entirely replaced by AI. Instead, some tasks involved in these jobs will be affected, but not necessarily leading to the end of work or the end of those jobs.

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

AI has significantly reduced the time taken to create quarterly reports for clients by Fiona Dixon's team. Previously, this task took two weeks every quarter and involved three or four staff members. Now, it is completed overnight, saving approximately 2,700 hours in the last six months.

What benefits have arisen from the use of AI in Fiona Dixon's team?

The use of AI has allowed Fiona Dixon's team to handle more tasks and focus more on technical and client service aspects. The AI co-pilot handles low-level tasks and common problems, such as scaffolding new code and APIs.

What do Australian bosses think about the impact of AI on productivity and job displacement?

A Microsoft survey found that 31% of Australian bosses believe AI will lead to better productivity, while 16% think it will reduce headcount. However, nearly 50% of workers are worried that 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. With AI's improved understanding of human language, it can now respond more naturally in conversations. In some cases, customers may not even realize they are interacting with a robot.

Outlines

00:00

🚀 Productivity Challenges and AI's Potential Impact

The paragraph discusses the current productivity challenges faced by Australia, despite a high employment rate. It highlights the decline in productivity and emphasizes the service-based nature of most jobs. The proponents of AI argue that it can improve efficiency by taking over menial and routine tasks, thus freeing up workers for other roles. The script mentions a Goldman Sachs prediction that AI could increase global workforce productivity by 1.5% and contribute to a 7% rise in GDP. It also notes that while AI may create jobs, it could displace 83 million jobs in the next five years. The paragraph concludes by suggesting that AI will not entirely replace jobs but will change the nature of work, with a focus on more creative and innovative tasks.

Keywords

💡AI

AI, or Artificial Intelligence, refers to the development of computer systems that can perform tasks typically requiring human intelligence, such as visual perception, speech recognition, decision-making, and language translation. 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. The video discusses how AI could both create new job opportunities and displace certain roles, reflecting the dual nature of technological advancements.

💡Productivity

Productivity refers to the efficiency with which goods and services are produced in an economy. It is often measured by the amount of output per unit of input, such as the value of goods produced for a given number of hours worked. In the video, Australia's productivity is highlighted as a concern, with a slump of 3.5% in a year, indicating a need for improvement. The proponents of AI argue that it can enhance productivity by automating routine tasks, allowing workers to focus on more complex and value-added activities, which is exemplified by the prediction from Goldman Sachs that AI could lift global productivity by 1.5% in the next decade.

💡Services

Services refer to the intangible products offered to customers, as opposed to physical goods. They include a wide range of activities such as receptionists, accountants, lawyers, and journalists, which are mentioned in the video. The majority of jobs in Australia are service-based, and these roles often involve routine and administrative tasks that AI proponents believe can be automated. This has implications for the future of employment in these sectors, as AI could potentially take over some of these tasks, leading to increased efficiency and altered job roles.

💡Technological Revolution

A Technological Revolution refers to a significant change or shift in the way technology is used, leading to profound effects on society and the economy. The video discusses the current era of technological revolution, particularly focusing on AI, and compares it to historical technological revolutions that have led to the creation of new jobs and the obsolescence of others. It suggests that, as with past revolutions, AI will lead to both job creation and displacement, transforming the workforce and the nature of work.

💡Job Creation

Job Creation refers to the process by which new employment opportunities are generated, often as a result of economic growth, innovation, or technological advancements. In the context of the video, it is suggested that AI will lead to the creation of new jobs, as has been the case with previous technological revolutions. This implies that while some jobs may be lost to automation, new roles requiring different skill sets will emerge, reflecting the dynamic nature of the labor market and the adaptability required by workers.

💡Telemarketers

Telemarketers are individuals who promote products or services over the telephone. The video identifies telemarketers as one of the jobs most likely to be impacted by AI. This is because AI-powered systems can automate many aspects of telemarketing, such as making calls and delivering scripted messages, which could reduce the need for human telemarketers. However, the video also suggests that AI will not entirely replace these jobs but may change the nature of the tasks involved, potentially requiring telemarketers to focus more on relationship building and complex sales strategies.

💡Educators

Educators are professionals who provide education and instruction, typically in a school or university setting. The video mentions educators as being among the jobs likely to be affected by AI. While AI can assist in administrative tasks and provide personalized learning experiences for students, the role of educators remains crucial for tasks that require human interaction, such as mentoring, critical thinking, and emotional support. The video implies that AI will not replace educators but may transform their roles, allowing them to focus more on teaching and less on administrative duties.

💡Insurance

Insurance is a sector that provides financial protection against various types of risk and potential loss. The video identifies jobs in insurance as being particularly susceptible to AI's impact. This is because AI can automate many aspects of the insurance process, such as claims processing, risk assessment, and underwriting. However, the human element in insurance, such as building customer relationships and understanding complex coverage needs, remains vital. The video suggests that AI will not replace insurance workers but may change the nature of their work, with a focus on more strategic and customer-oriented tasks.

💡Judges and Clerks

Judges and clerks are legal professionals who play key roles in the judicial system. Judges make decisions in court cases, while clerks assist in administrative tasks. The video suggests that these roles may be impacted by AI, particularly in areas such as case research, legal document analysis, and routine administrative duties. However, the video also implies that the critical thinking, judgment, and human touch required by judges and the personal interaction with clients will still be necessary, indicating that AI will not entirely replace these jobs but may assist in making their work more efficient.

💡Boring Work

Boring work refers to tasks that are repetitive, monotonous, and often lack intellectual stimulation. In the context of the video, AI is presented as a solution to automate such work, freeing up human workers to focus on more engaging and complex tasks. For example, the video mentions how an accountant's team uses AI to automate the creation of quarterly reports, which used to be a time-consuming and tedious process. This highlights the potential of AI to improve job satisfaction by reducing the need for employees to perform mundane tasks.

💡GitHub Copilot

GitHub Copilot is an AI platform developed by GitHub that assists developers in coding by providing suggestions and automating certain programming tasks. The video mentions a survey by Microsoft, the creator of GitHub Copilot, which found that 31% of Australian bosses believe AI will lead to better productivity. This suggests that AI tools like GitHub Copilot can enhance the efficiency of software development by handling low-level tasks and common problems, allowing developers to focus on more creative and innovative aspects of their work.

💡Call Centers

Call centers are establishments that handle a large volume 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. AI can improve call centers by understanding customers better and responding in a more natural and human-like manner, potentially making interactions with customers more seamless and efficient. This indicates a shift towards more advanced AI-driven customer service, which could change the traditional role of call center workers.

Highlights

The world is experiencing a technical revolution with AI.

Despite record employment, Australia's productivity has dropped significantly.

AI proponents argue it can handle menial and routine tasks, freeing up human workers for other activities.

Goldman Sachs predicts AI will increase global workforce productivity by 1.5% in the next decade.

AI is expected to contribute to a 7% rise in GDP, adding over 10 trillion dollars to the world's economy.

Historically, innovation has led to job creation, with 60% of current jobs not existing in 1940.

Statista analysis suggests AI could create 69 million jobs while eliminating 83 million others in the next five years.

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

AI is not expected to replace jobs entirely but rather some tasks involved in them.

Accountant Fiona Dixon's team uses AI to automate time-consuming tasks like quarterly reporting.

AI has saved Fiona's team approximately 2,700 hours in the past six months.

AI allows employees to focus more on technical and client service aspects of their roles.

Microsoft survey indicates 31% of Australian bosses believe AI will improve productivity.

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

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

AI advancements aim to eliminate boring work and enhance creativity and innovation.