Artificial intelligence (AI) is changing the global labor market and offers both opportunities and challenges. According to a PwC study from 2024, AI is expected to significantly increase productivity in several sectors, but job creation in these areas is lagging behind.
The PwC report analyzed 500.000 job openings in 15 countries and identified several critical points. Firstly, sectors that are heavily influenced by AI, such as finance, customer service, software development and administration, have seen an almost five-fold increase in productivity. This improvement is attributed to the efficiency and advanced capabilities offered by AI technology in these areas.
Despite the productivity gains, employment growth in the sectors affected by AI is slower. The study shows a 27% lag in job creation compared to other industries. This discrepancy suggests that while AI improves efficiency, it can also reduce the need for certain tasks traditionally performed by humans.
In addition, there is a growing demand for AI-related skills. The number of job openings requiring AI skills has grown 3.5 times faster than other skills since 2012. Workers with AI skills earn 25% more than their counterparts without these skills, underscoring the value of AI skills in today's job market.
The impact of AI varies by industry. Financial analysts, call center operators, software developers and administrative managers are the hardest hit. Conversely, areas such as education and information technology are experiencing slower job growth due to the impact of AI.
The integration of AI into different industries is a double-edged sword. On the one hand, it increases productivity and opens up new avenues for innovation. On the other hand, it disrupts traditional job roles and requires workers to change their skills to stay relevant.
Workers can take advantage of the growing demand for AI skills by participating in retraining and upskilling programs. Companies and educational institutions are increasingly offering courses and training in AI and related technologies. While AI may reduce the need for some jobs, it is also creating new roles. For example, jobs for AI ethicists, data scientists and machine learning engineers are becoming more common.
However, some professions are at risk of becoming obsolete due to AI automation. Workers in repetitive and routine occupations, such as call center operators, could see their positions replaced by AI-driven systems. The wage premium for AI skills could widen the economic gap between workers with and without these skills and exacerbate existing inequalities.
