AI and Digitization to Reshape Job Landscape: Opportunities and Challenges for the Future Workforce
By Nate Dillard
The big picture: The World Economic Forum predicts that AI, digitization, and other economic factors will change nearly a quarter of all jobs over the next five years, potentially eliminating 26 million positions while creating opportunities in big data analytics, management technologies, and cybersecurity, reports Bloomberg.
By the numbers: 75% of surveyed companies plan to adopt AI technologies in the next five years, automating jobs in record-keeping and administrative roles.
Between the lines: While AI will significantly disrupt labor markets, it remains a smaller threat to job prospects compared to macroeconomic factors such as slow economic growth, supply shortages, and inflation.
What's next: Job creation opportunities are expected to arise from investments in the green transition, wider application of ESG standards, and a reorientation of global supply chains.
The bottom line: The impact of AI and digitization on the labor market is inevitable, but these technologies will also create opportunities in various sectors.
The community angle: In Dayton, Ohio, the BIPOC and underrepresented communities of color may face challenges as the labor market evolves. These communities must have access to education and training programs that equip them with the skills needed for in-demand positions in technology and green industries to ensure that they're not left behind in the rapidly changing job landscape.