Artificial intelligence (AI) and the Fourth Industrial Revolution are poised to significantly transform the world of work. The World Economic Forum has revealed some of the jobs that could soon be replaced by AI in their Future of Jobs Report 2023.

The Future of Work

According to the report, the number of AI and machine learning specialists is anticipated to increase by 40% by the year 2027.

Moreover, there is a projected increase of 30-35% in the demand for data analysts and scientists, while the demand for information security analysts is expected to rise by 31%.

Accenture, a professional services company, states that large language models (LLMs) such as ChatGPT-4, have the potential to impact up to 40% of all working hours.

"This is because language tasks account for 62% of the total time employees work," the company said.

According to Accenture, even though the potential impact of large language models on language tasks could be a cause of concern, it is possible to convert 65% of the time spent on these tasks into more productive activities by using augmentation and automation.

Accenture said that companies must ensure that their employees are developing the new skills that will be required in the age of AI. 

It adds that effective implementation of generative AI demands equal attention to technology and human resources. This includes imparting training to employees in technical skills like AI engineering and enterprise architecture, as well as educating individuals throughout the organization on how to work efficiently with AI-based systems. 

The Future of Jobs Report states that although artificial intelligence is anticipated to be implemented by almost 75% of the companies surveyed and result in high turnover, with half of the organizations predicting job expansion and a quarter expecting job loss, certain roles such as bank tellers and data entry clerks, which are predominantly clerical or secretarial in nature, are likely to decrease rapidly due to AI. 

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Fastest Growing vs. Declining Jobs

Here are the top 10 jobs that could be replaced by AI as they decline over time, according to the World Economic Forum's recent report: 

1. Bank Tellers and Related Checks 

2. Postal Service Clerks 

3. Cashiers and ticket Clerks  

4. Data Entry Clerks  

5. Administrative and Executive Secretaries 

6. Material-Recording and Stock-Keeping Clerks 

7. Accounting, Bookkeeping and Payroll Checks 

8. Legislators and Officials  

9. Statistical, Finance and Insurance Clerks  

10. Door-To-Door Sales Workers, News and Street Vendors, and Related Workers 

Meanwhile, here are the top 10 fastest growing jobs: 

1. AI and Machine Learning Specialists

2. Sustainability Specialists  

3. Business Intelligence Analysts  

4. Information Security Analysts  

5. Fintech Engineers  

6. Data Analysts and Scientists 

7. Robotics Engineers  

8. Electrotechnology Engineers  

9. Agricultural Equipment Operators 

10. Digital Transformation Specialists 

According to the Future of Jobs Report, AI adoption by 75% of surveyed companies will lead to high churn, with 50% expecting job growth and 25% anticipating job losses.

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