In a recent World Economic Forum article, Boston Consulting Group economists suggest that AI's impact on employment may resemble past technological revolutions.
Although AI might significantly affect certain jobs, it is believed to ultimately create more opportunities than it eliminates. However, this outlook may be overly simplistic, as AI's capacity to handle cognitive tasks could lead to unprecedented and widespread job displacement. While past changes, like the transition from horses to automobiles, were driven by broader social and technical factors, AI introduces unique challenges due to its cognitive outsourcing capabilities.
Surveys indicate widespread concern among IT professionals about AI making skills obsolete, and many companies plan to use AI to reduce their workforce. In contrast, some reports show AI as primarily augmenting productivity, not replacing workers. Although AI hasn't drastically altered employment numbers yet, its influence is evident in fields such as call centers and software engineering, where AI-enhanced new employees match the performance of seasoned workers.
This shift could democratize job access but may also lead to wage pressure and skill gaps. The financial services sector exemplifies potential job automation and augmentation, with new roles, such as AI managers and interface designers, emerging.
An "AI orchestrator" might become vital for integrating AI tools effectively. As AI advances, the employment landscape will evolve in complex ways, with both job creation and displacement occurring simultaneously, marking a departure from historical patterns.