A new, grim piece of research from UN Trade and Development forecasts that artificial intelligence (AI) will affect 40% of the world’s jobs. Without some form of regulation among leading nations, the likelihood of this occurring will rise. And the world’s largest countries will be substantially affected.
This UN research shows that the global AI market will be worth $4.8 trillion in 2033, about the size of Germany’s gross domestic product. The primary reason for rapid growth by this measure is productivity. The study’s authors write, “AI could impact 40% of jobs worldwide, offering productivity gains but also raising concerns about automation and job displacement.” These experts are trying to forecast whether these jobs can migrate into employment sectors different from the ones they are in today.
The world’s wealthiest economies will benefit from AI’s growth because of its effect on infrastructure, data, and skills. The capacity of poor nations to make necessary changes to participate in this is very low. It will be up to wealthy nations to determine if underdeveloped countries can benefit from the advances.
There are two schools of thought about how AI will change the world’s employment picture. One is that it will create 78 million jobs by 2030, according to the World Economic Forum’s analysis. Another is that AI will simply replace workers in some industries.
What artificial intelligence will do to the jobs market is little more than an educated guess. What is not is that millions of people face employment disruption.
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