Wed, 22, May, 2024, 1:52 am

Artificial Intelligence and Job Market

Artificial Intelligence and Job Market

Shawdesh desk:

Artificial intelligence can function like human brains and simplify our everyday tasks. Today, numerous AI solutions have been developed to make our lives easier and more dynamic. On the other hand, its arrival is changing the nature of work. Nowadays, many traditional professions are becoming less common while it is creating room for new ones. Some industries have already started relying more on artificial intelligence than on the human workforce in order to deal with their financial crises. Consequently, there has been a global decline in the employment market.

According to a recent assessment of the World Economic Forum (WEF), about one crore and forty lakh individuals may lose their jobs in the next five years. So, it indicates that artificial intelligence poses a threat and offers a significant opportunity to the future labour market at the same time.

More dependence on artificial intelligence may lead to the loss of different types of occupations. For example, creative jobs such as creating digital materials are one of them. Within a short time, AI tools can produce a large number of videos and designs. In addition, there will be a loss of other employment like cashier, banker, and taxi driver.

Undoubtedly, artificial intelligence will cause the loss of many jobs. But, it is a matter of hope that it has the potential to create some new work opportunities as well.  For example, many researchers, data analysts, experts in digital transformation, and cyber security experts may rise thanks to the arrival of artificial intelligence in the workplace. According to a report released by the World Economic Forum (WEF), there will be a 40% increase in the number of specialists in artificial intelligence and machine learning by 2027.

Bangladesh, like a lot of other nations, is sensing the effects of the fourth industrial revolution. With the assistance of a2i (access to information), a survey focused on employment in 16 sectors was carried out in 2023.

The industries included ready-made clothing, textile furniture, agro-food, leather, tourism and hospitality, light engineering, health care, information and communications technology etc.

The survey result indicated that by 2041, around 7 million workers in these industries will lose their jobs while someone crore and ten lakh people will be able to find work in new fields. Impressive future careers include those in artificial intelligence (AI), blockchain, 3D design, customer experience management, AR and VR development, autonomous vehicle maintenance, drone surveying, cyber-physical control system operators, robot physicians, virtual house assistants, and more.

Under such circumstances, we should be ready to deal with the impending situation. Our government should be aware of it and take timely steps to adapt to it. It should ensure people’s employment accordingly. It expressed its desire to guarantee work opportunities in the election manifesto. This manifesto indicates that by 2028, the percentage may drop to 3% from 10.6% and that by 2030, over 1 crore jobs will be available. Therefore, to make this happen, not only the government but also the private institutions and development associates should make collective efforts.

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