Jobs Most Likely to be Impacted by AI:

AI has the potential to automate repetitive and mundane tasks, enabling businesses to be more efficient and cost-effective. While this leads to increased productivity, it also results in a shift in the job market. Some positions that involve predictable and repeatable tasks may become obsolete as AI systems can perform them faster and with fewer errors. Therefore, it is crucial to adapt and acquire new skills that complement or are difficult to automate.

Professions associated with clerical work in finance, legal, and business management are most susceptible to AI impact. Management consultants, business analysts, accountants, psychologists, and teaching occupations are highlighted. 

The finance & insurance sector is the most exposed, along with information & communication, professional, scientific & technical, property, public administration & defence, and education sectors.

The UK Department of Education's methodology, analysing 365 professions and their characteristics, reveals that more professional roles associated with clerical work are at higher risk. Professionals like purchasing managers and directors, economists, and statisticians are among those vulnerable to AI takeover. Jobs involving finance and investment analysts, legal professionals, and supporting roles are also listed. Education advisers, human resource administrators, bookkeepers, payroll managers, and administrative government officials are among the top 10 to 20 occupations most vulnerable to AI. The assessment includes generative AI models like OpenAI's ChatGPT and Google's Bard, as well as other large language models, talk-to-text applications, and image recognition AI.

What human skills are essential for the future.    

Jobs that require creativity, critical thinking, emotional intelligence, and problem-solving are less susceptible to AI disruption. These skills are inherently human and difficult to replicate. Additionally, roles involving AI development, data analytics, machine learning, and automation are expected to witness significant growth. Gaining expertise in these areas can provide future-proof job prospects.

Microsoft reports that globally, 82% of leaders and 85% in Asia Pacific believe employees will need new skills in an "AI-powered future." According to the study, leaders consider analytical judgment, flexibility, and emotional intelligence as the top three essential skills. 

Core Competencies:

• Analytical judgment 
• Flexibility
• Emotional intelligence
• Intellectual curiosity 
• Bias detection and handling 
• AI delegation (prompts)

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Microsoft emphasizes that these skills are not just crucial for technical roles or AI experts but are becoming new core competencies across various professions.

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Conclusion 

While AI disrupts the work market by automating certain job roles, it also creates opportunities for individuals to establish their own online businesses. By identifying niche markets, utilizing AI tools, building a strong online presence, adapting to technological advancements, and continuously learning, entrepreneurs can leverage the power of AI to thrive in the digital economy. Embracing AI and understanding its potential impact on the work market is key to unlocking success in the ever-evolving business landscape.

Want to start your own online business and don't know where to start?

How will AI create jobs

AI development relies heavily on human involvement to train and improve algorithms, resulting in the emergence of new roles. Machine learning engineers are responsible for designing and overseeing AI systems, while AI ethics specialists ensure responsible deployment of AI.

According to Sean Chou, co-founder of AI startup Catalytic, the demand for human workers in advancing technology is significant. The growth in technology requires more people to contribute to its development. Instead of worrying about the negative impact of technology, individuals can actively participate in creating and maintaining it. The continuous need for training, data, maintenance, and addressing exceptions in AI creates new job opportunities, such as monitoring AI and ensuring responsible use.

Contrary to the fear of AI eliminating jobs, it is reshaping job roles and the nature of professional work. This shift is comparable to the impact the internet had when it was introduced. Chris Nicholson, CEO of Skymind.AI, draws parallels to historical changes, stating that while certain jobs may disappear with technological advancements, new jobs are created. The analogy to the Industrial Revolution highlights that, historically, changes in technology led to the disappearance of certain jobs but also gave rise to diverse types of work, contributing to increased employment.

Embracing Entrepreneurship and Online Businesses

With the changing job landscape, many individuals are opting to establish their own online businesses, leveraging advancements in technology and the increasing accessibility of the internet. AI can play a crucial role in enhancing the efficiency and success of these ventures.

Identify a niche: 

Start by identifying a market gap or a specific niche that can be addressed through your online business. Conduct market research and analyse trends to understand the demand and potential competition. This process can help you refine your business idea and differentiate yourself from others.

Utilize AI tools: 

AI-based tools can support various aspects of your online business, such as market research, customer profiling, data analysis, and automation. Utilize these tools to gain insights, make informed decisions, streamline processes, and optimize your operations. They can help you gain a competitive edge and focus on value-adding tasks.

Build a strong online presence: 

Establish a compelling online presence through a website or social media platforms. Leverage AI-powered algorithms to craft engaging content, optimize search engine rankings, and personalize user experiences. AI can help you understand your target audience better and tailor your online presence to meet their needs effectively.

Adapt and innovate: 

As AI technology evolves, regularly evaluate how it can benefit your online business. Stay updated with the latest AI trends and advancements, and be open to incorporating them into your operations. AI can help automate routine tasks, provide personalized recommendations to customers, and enhance decision-making processes.

Continuous learning:

In a rapidly changing digital landscape, it is essential to continuously learn and acquire new skills. Stay updated with AI-related developments through online courses, forums, and industry events. Gaining knowledge about AI technologies will enable you to make informed decisions and stay relevant in the market.

Written by Lasse Sorensen - Wake Your Skills