AI Eating Away Jobs: Artificial Intelligence Will Take More Jobs From Women Than Men by 2030 in US, Reveals Study
According to a recent report by the McKinsey Global Institute, the advent of generative artificial intelligence (AI) and automation technology is anticipated to lead to a concerning trend: a greater number of women facing job losses in the next decade.
Mumbai, July 27: According to a recent report by the McKinsey Global Institute, the advent of generative artificial intelligence (AI) and automation technology is anticipated to lead to a concerning trend: a greater number of women facing job losses in the next decade. This is likely to occur as certain industries contract due to the rapid progress in AI. The report predicts that approximately one-third of working hours in the US economy could be automated by 2030. Sectors such as customer service, office support, and food services are expected to experience further shrinkage. At the same time, there will be an increased demand for professionals in STEM fields, construction, creative industries, legal services, and business-related occupations. Artificial Intelligence Based Technologies Will Snatch Away 8 Lakh Jobs in Hong Kong by 2028, Predicts Study.
The report further sheds light on evolving landscape of AI and automation is set to reshape the job market and may present both challenges and opportunities for workers in various sectors, particularly affecting women in the workforce. It is projected that around 12 million individuals will be compelled to leave shrinking occupations by the year 2030. The transformation driven by AI and automation could lead to an economic shift that favours higher-paying jobs. Workers engaged in lower-paying positions are anticipated to be 14 times more likely to undergo career transitions compared to those in higher-paying roles. AI Triggering Layoffs? Artificial Intelligence Cost Nearly 4,000 Employees Their Jobs in May in US, Says Report.
According to the McKinsey report, women are 1.5 times more likely than men to switch jobs, primarily because they are overrepresented in industries like customer service, office support, and food service, which are rapidly shrinking due to AI and automation. The report also highlighted that these occupational changes could be attributed to the impact of the Covid-19 pandemic, during which approximately 8.6 million individuals in the US labour market decided to change their employment situations.
(The above story first appeared on LatestLY on Jul 27, 2023 07:36 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).