With the advent of technology and remarkable advancements like artificial intelligence (AI), several jobs and industries in the United States are expected to face a downturn.
The convergence of technological progress is laying the groundwork for a change in the employment landscape, putting some occupations at risk of extinction.
In particular, the data acquired by Fineball highlighted the occupations that are expected to see changes in employment in the United States between 2021 and 2031. As of Q3 2023, the role of cashier is projected to be the most decreasing position, with 355,700 fewer positions by 2031. Secretaries and administrative assistants rank second, with a projected decline of 207,600 positions by 2031, while office clerks rank third, with 130,800 jobs expected to decline.
Elsewhere, customer service representatives rank as the fourth fastest shrinking job, with a drop of 105,300 positions. Executive secretaries and administrative assistants cap the top five spots at 102,600 jobs which are expected to decline.
Other roles expected to decline include miscellaneous assemblers and manufacturers (96,400), frontline supervisors of retail workers (78,200), bookkeeping, accounting, and auditing clerks (77,200) and fast food cooks (69,100).
Reduced labor force participation
The research pointed to notable reasons that may lead to a decrease in participation in the highlighted occupations. According to the research report:
“The decline in these highlighted jobs can be attributed to a myriad of factors, with one of the main concerns being the impending decline in labor force participation. The economy is grappling with the challenges posed by an aging population as the baby boomer generation reaches retirement age, leading to a decline in the labor force.
At the same time, technological innovation, automation, and the growth of disciplines such as ChatGPT are also expected to lead to lower participation in some jobs. Indeed, several business leaders are already using the tool to manage certain jobs.
In particular, data presented by Finbold indicates that a survey of 1,000 US business leaders in Q1 2023 found that 66% of them use ChatGPT to write code, while writing and content creation follows closely at 58% and customer support at 57%. Additionally, 52% of respondents indicated that they use ChatGPT to create summaries of meetings or documents.
Other notable areas where ChatGPT is deployed include search (45%), to-do list generation (45%) and others (3%).
Impact the ChatGPT
The research highlighted the possible implications of AI products such as ChatGPT on the broader employment sector. The report notes that:
“The impact of AI on the labor market should be significant. However, most jobs and industries will be supplemented rather than replaced by AI, as they are only partially exposed to automation. Workers in these occupations are likely to use their liberated capacity to engage in productive activities, thereby increasing production.
Overall, in shaping the future of industries, finding the delicate balance between innovation and accountability will be paramount to supporting the labor market and embracing emerging technologies.
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2023-07-22 12:53:38
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