Generative AI is about to disrupt the job market.
By 2030, there will be a new set of opportunities and challenges created in the job market.
Opportunities include Healthcare and STEM occupations.
1. Healthcare: Already grappling with 1.9M unfilled positions as of April 2023, the sector is poised for explosive growth. By 2030, we are looking at a demand surge for 3.5M jobs in health aides, technicians, and wellness roles, and an additional 2M for healthcare professionals.
2. STEM: Despite the tech layoffs making 2023 headlines, the long-term demand remains robust. By 2030, a whopping 23% increase in STEM jobs is on the horizon. Industries across the board, from banking to healthcare, are undergoing digital transformations, amplifying the need for advanced tech talent.
On the Decline:
3. Office Support, Customer Service, & Food Services: Automation is reshaping the job landscape. Estimates point to a dip in demand for clerks (1.6M jobs), retail salespersons (830K), administrative assistants (710K), and cashiers (630K) by 2030. The reason? These roles involve tasks that automated systems excel at.
4. Production Jobs: Even with a US manufacturing sector upswing, traditional production roles are seeing a decline, making way for skilled technical and digital roles.
The Big Transition:
Approximately 11.8M workers in shrinking demand occupations might need to pivot by 2030. Roughly 9M workers may wind up moving into different occupational categories altogether. That’s a seismic shift, with occupational transitions 25% higher than previous estimates.
Education & Skills:
The trend is clear: a growing demand for jobs requiring higher education and skills, while roles typically not requiring college degrees face a decline.
What are your thoughts on job market transitions due to AI?
#FutureOfWork #GenerativeAI #Disruption #STEM #Healthcare
Data: McKinsey Global Institute’s Sept 2023 report ‘Generative AI and the future of work in America’
