OECD Says AI Revolution Could Compromise 27% of Jobs

Jace Dela Cruz, Tech Times 12 July 2023, 08:07 am

The Organisation for Economic Co-operation and Development (OCED), an intergovernmental organization with 38 Member countries, revealed that AI could significantly affect jobs as concerns mount about the technology's potential displacement of human workers.

"Increasingly rapid developments in AI are likely to significantly affect jobs. Initial results from a new OECD survey on AI use in the manufacturing and finance sectors show the urgent need to act now, with policies that allow countries, firms, and individuals to benefit from AI while addressing risks," the organization stated in a press release.

(Photo: kiquebg from Pixabay)

On the Verge of an AI Revolution

According to the bloc, OECD countries may be on the verge of an AI revolution, despite the fact that business use of AI is currently relatively low Rapid advancements, especially those made with generative AI like ChatGPT, declining costs, and an increase in the supply of workers with AI capabilities.

OECD notes that it is crucial to obtain more accurate and up-to-date information on AI adoption and application in the workplace, including which positions will change, be added to, or eliminated, as well as how skills requirements are changing.

Various countries around the world have been pushing forward with policies to govern the rise of AI. For instance, the US and the EU have proposed measures to address the most common concerns associated with AI such as copyright, privacy, and job displacement.

27% of jobs are in professions that are very susceptible to automation when taking into account all automation technologies, including AI. The benefits and risks that AI poses are both highlighted in the preliminary results of a new OECD survey on the impact of AI on the manufacturing and financial sectors of seven countries.

When all automation technologies, including artificial intelligence (AI), are taken into account, 27% of jobs are in occupations that are very susceptible to automation.

The initial results of a new OECD assessment on the effects of AI on the manufacturing and financial sectors of seven nations emphasize both the advantages and concerns that AI poses.

"Yet there are also risks around privacy, work intensity, and bias. The survey revealed a clear divide between what workers think about AI use in their jobs today and their fears for the future. The results highlight the urgent need for policy action now, to ensure that no one is left behind," OECD noted.

Need for Safeguards

The intergovernmental organization also highlighted the need for safeguards. It said that countries must consider concrete policy actions to enforce the trustworthy use of AI.

OECD adds that governments around the world must ensure that AI will support inclusive labor markets instead of hampering them.

"Increasingly rapid AI development and adoption means that new skills will be needed, while others will change or become obsolete. Training is needed for both low-skilled and older workers, but also for higher-skilled workers," the organization stated.

Furthermore, governments are encouraged to provide more training to workers, integrate AI skills into the education sector, and ensure diversity in the AI workforce.