The Revolution of AI: 300 Million Jobs at risk of Automation 

A report published by Goldman Sachs in 2023 has estimated that generative AI, such as ChatGPT, could potentially automate 300 million jobs globally in the near future, affecting approximately one fourth of the current workforce. This translates to approximately 27 percent of occupations facing the risk of automation. Cecily Josten and Grace Lordan, in their article published on December 14th, have addressed the increasing concerns surrounding job displacement, shedding light on the need new approaches to education and workforce. 

Traditionally, experts believed that AI and automation would not affect occupations requiring inherently human skills, such as creativity. However, recent developments in AI technology, particularly in natural language processing and image generation, have allowed AI systems to mimic human-like performances and create original content. Consequently, professionals in creative fields, such as Hollywood actors and writers, are now expressing apprehension about the potential threat of AI replacing their jobs, the article noted. 

In the past decades, automation has been observed to displace jobs in industries that involve routine tasks, resulting in reduced demand for human labor in those sectors. As technology takes over repetitive tasks, there is an increasing need for human workers to perform complex problem-solving, creativity, and social interaction. High-skill workers who can complement automation and collaborate with machines tend to experience increased demand and higher wages, while low-skill workers face decreased job opportunities and stagnant wages as their roles are easily replaceable by machines.

The OECD (2023) also warns of a potential AI revolution, driven by advancements in generative AI, reduced costs of utilizing AI, and the growing availability of workers with AI skills. Meanwhile they also acknowledge that AI has the potential to complement the work of individuals with disabilities and low-skilled workers, it may also pose challenges to those lacking digital skills, particularly women, older workers, and low-skilled individuals.

In the context of Ethiopia, a low-income country with a high illiteracy rate, it is crucial to prioritize upskilling and education to mitigate the potential adverse effects of AI on diversity and inclusion. Fostering reskilling and adult learning becomes essential to ensure that individuals from all backgrounds can benefit from AI without facing significant disadvantages.

Full article:
https://blogs.lse.ac.uk/businessreview/2023/12/14/how-the-most-recent-ai-wave-affects-jobs/