The AI revolution has begun
AI is changing how work is done, and people are taking notice.
According to a recent Gallup poll, 22% of employees in the U.S. are concerned that they will lose their jobs to generative AI. Four years ago, it was 15%.
Globally, AI is expected to transform the workforce by 2050. Experts estimate that up to 60% of current jobs will require significant adaptation due to AI, and Goldman Sachs predicts that up to 50% of jobs could be fully automated by 2045.
How AI will change jobs
A 2024 study showed that 60% of administrative tasks can be automated, particularly those that are highly repetitive and involve data entry, like bookkeeping, scheduling, financial modelling, basic data analysis, medical administrative tasks, and customer service.
However, many other job duties are harder to automate. Empathy based roles, such as nursing, therapy, and social work, need emotional intelligence to be successful. High level management jobs also rely on emotional intelligence as well as discretion and adaptability, which AI currently cannot offer. AI also lacks the ability to do high-level analysis and decision making, traits that are important in fields like legal advocacy.
The field of human resources is likely to change significantly, as AI is now offering HR managers tools to help hire and manage employees. If you're a hiring manager or employer wondering how to navigate this shift, check out our previous blog post: AI in Recruitment: What Every Hiring Manager Needs to Know, where we explore the risks, benefits, and legal considerations of using AI tools in the hiring process.
How to adapt your business
Change, no matter what kind, can be daunting for many employees. The key to maintaining a trusting relationship with your employees is to be transparent with them about how you plan to implement AI. Be clear with your workers about how you plan to train and support them along the way.
Experts recommend performing a workforce analysis. Find out what changes your workforce has undergone in recent years. Identify areas where you'll have a greater need in the future, along with trends affecting your industry. Examine which positions will need to change, and whether new positions will have to be created.
In terms of where to implement AI, consider breaking down jobs into sets of tasks to determine which can be automated and which can't.
Experts caution that it's short-sighted to look at reducing your workforce as a first resort. Instead, look to reskill and upskill your employees. Remember, your employees have knowledge that AI does not, for example, of organizational culture and client relationships. Leverage your existing workforce to produce better results. Remember, the key is to balance AI's power with human potential. You can do this by encouraging and requiring ongoing learning. Enroll employees in company-wide AI training programs, or offer them a yearly budget for AI learning.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
