Artificial intelligence has evolved itself over recent decades while it has brought out numerous innovations and brought digital disruption to many industries. It also changed the job market forever. AI has indeed replaced some jobs, however, it has also brought new roles for human workers. As per a 2017 research conducted by IDC and released by Salesforce says that AI is projected to create 823,734 jobs by the year 2021 which will surpass the number of jobs lost to AI technologies such as machine learning, Deep Learning, and automation. The report had also predicted that AI would increase global business revenues by USD 1.1 trillion in the same time frame. So, AI and its related segments will continue to be the big game-changer in the global economy, with much of the value additions.
This year, while the COVID-19 pandemic had brought a hard-hit impact on the job market as a whole, AI still manages to continue its upward curve. Further, it is asserted that from 2021, the Field of AI will undergo significant changes to diversify beyond the current machine learning and natural language processing capabilities.
Demand for New Skills and Roles
The World Economic Forum’s reports mention that 5 million jobs will have been lost to automation. But it also pointed out that job positions like systems analyst, software developer, market research, and marketing specialist jobs are set to grow fivefold between 2020 and 2024. This indicates the scope that with the rise in new job roles in AI, there will also be a similar rise in the need for relevant AI skills. One example is that LinkedIn witnessed around a 190% increase from 2015-17 in terms of skills required for AI-based jobs. It also indicates that unskilled jobs are under threat. Hence the need for AI-skilling to operate, utilize, and manage AI technologies will remain unequivocally necessary.
With the AI and its subset spectrum are expanding, it is also predicted that the job roles will continuously change every ten years. In 2017 Cognizant whitepaper has proposed that 21 such jobs will emerge over the next ten years and create mass employment. Some of these are data detective, AI-assisted healthcare technicians, AI business development managers, and man-machine teaming managers. Simultaneously, jobs like business analysts, financial analysts, and cybersecurity roles will also multiply as a result of AI.
A recent survey conducted by Burning Glass which collected and analyzed millions of job postings from across the country of how many technology jobs request machine learning skills reveals significant growth for 2021. These job roles include Software Developer / Engineer, Network Engineer / Architect, Data Scientist, Data Engineer, Database Architect, Data Mining Analyst, and so on. It is very important to note that AI has also helped create jobs where man and machine can work together through collaboration.
